Brent crude has dropped almost 3 per cent overnight, as oil traders bet on a peace deal in the Middle East.Meanwhile, the ASX is set to trade up today after another strong session on Wall Street overnight.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.PinnedFri 5 Jun 2026 at 7:59amFri 5 Jun 2026 at 7:59amMarket SnapshotBy Emilia TerzonASX 200 futures: +0.5%Australian dollar: flat to 71.30 US centsWall Street: S&P500 +0.4%, Dow +1.7%, Nasdaq -0.1%Europe: FTSE +0.3%Spot gold: +0.8% to $US4,466/ounceOil: Brent futures -2.5% to $US95.38/barrelBitcoin: -1.1% to $US64,195Prices at about 8:00am AEST.Live updates on the major ASX indices:Collapse all postsFri 5 Jun 2026 at 8:11amFri 5 Jun 2026 at 8:11amTariffs could be spooking Australian brandsBy Emilia TerzonWell a day after another Trump tariff twist, we've got a report from a major shipping platform about what brands are doing with international sales.Quick wrap: the US president is threatening a different tariff on Australia and many other nations of 12.5% — which would be a change from the previous 10% shut down by courts.It's the latest saga for exporters, who've been navigating a changing landscape for a year now since "Liberation Day". Shippit's report notes this volatility:"The international expansion enthusiasm of 2025 — when 83% of retailers cited it as important and 66% a top priority — has cooled."Tariff turbulence has left a mark, but retailers haven’t retreated from global trade out of fear. They’ve refocused closer to home."With inflation, domestic competition, and rising delivery costs demanding attention, only 14% now identify international expansion as a top priority (compared to 66% last year.)Fri 5 Jun 2026 at 7:43amFri 5 Jun 2026 at 7:43amAUD around 71 US cents as markets ponder interest ratesBy Emilia TerzonThe Aussie dollar is very marginally up to just above 0.7130.CBA's just put out its morning currency note, where they go over the appearance by the RBA's governor and her team yesterday in the Senate:"Governor Bullock said the central bank has seen signs that its interest rate increases are starting to work through the economy. She also expressed concern about the risk of second‑round inflation effects from the ongoing conflict in the Middle East.Markets continue to price around one more RBA rate hike this year. We expect no further rate hikes by the RBA, with signs of softening activity likely to outweigh lingering inflation concerns. Worth noting, we've got another RBA appearance today: Deputy Governor Hauser will speak in a fireside chat today around 2:30pm Sydney time.Fri 5 Jun 2026 at 7:36amFri 5 Jun 2026 at 7:36amASX to rise after Wall Street tradeBy Emilia TerzonGood morning! Emilia here with you for the next few hours.It looks like the Australian market could rise on Friday, after Wall Street bounced back and recorded another record day. Right now, ASX 200 futures are up 0.5%.Meanwhile, brent crude futures have slipped down almost 3% to near their lowest price all week, at about US$95/barrel. It is as oil traders pin their hopes on a peace deal in the Middle East, and therefore on the re-opening of the Strait of Hormuz.We'll be here all day.