Australian shares have tailed a rebound on Wall Street overnight, but investors remain cautious as a fog of uncertainty hangs over incoming US tariffs.
The Australian share market has finished in the red, following US and European equities lower as fresh tariffs on cars made outside America ended a brief reprieve from White House trade policy unease.
The Australian share market has posted its highest close in nearly three weeks, led by financials as banks continue to bounce off a post-earnings sell-off.
Wall Street stocks ended higher overnight, with Apple rising and Nvidia dipping as investors assessed consumer sentiment data and bet on a more flexible trade policy stance from the Trump administration next week.
Jim Chalmers claims the federal budget is in a better position than when Labor came to power three years ago, but there are economic storm clouds ahead.
Stocks closed broadly higher overnight amid hopes on Wall Street that the Trump administration may take a more targeted approach as it tees up a new round of tariffs on imported goods next week.
The S&P and Dow eked out slight gains, erasing earlier losses after comments from US president Donald Trump provided hope that previously announced tariffs expected to begin in early April may not be as burdensome as feared.
US stocks closed slightly lower overnight after veering between gains and losses as investors gauged the latest round of economic data and the Federal Reserve's policy statement against tariff concerns.
