The ASX is set to open lower with big tech stocks weighing down Wall Street ahead of a busy US earnings reporting week. Amazon fell 1.6%, Microsoft sank 0.8%, Meta Platforms lost 0.2% and Apple slipped 0.1% - all are set to report this week. The relatively calm trading followed historic swings that have come as hopes rise and fall that Donald Trump may back down on his tariffs, which investors expect would otherwise cause a recession. The S & P 500 fell 0.7% in afternoon trading, coming off a winning week in its whipsaw ride that’s been rattling investors for weeks. The Dow was down 103 points, or 0.3%, and the Nasdaq was 1.2% lower. In Australia, the economic data focus for investors will be CPI data released on Wednesday. Market highlights ASX futures are pointing down 13 points or 0.2 per cent to 7995 All US prices are as of 2pm New York time. AUD - 0.3 % to 64.17US¢ 0.3 to 64.17US¢ Bitcoin -0.3% to $US93,812 -0.3% to $US93,812 On Wall St: Dow -0.6% S & P -0.9% Nasdaq -1.4% -0.6% -0.9% -1.4% VIX +1.94 points to 26.78 +1.94 points to 26.78 Gold +0.6% to $US3338.69 an ounce +0.6% to $US3338.69 an ounce Brent oil -2.3% to $US65.35 a barrel -2.3% to $US65.35 a barrel Iron ore +0.1% to $US98.55 a to +0.1% to $US98.55 a to 10-year yield: US 4.22% Australia 4.16% Today’s agenda Economic data includes US CB consumer confidence; NZ employment index. Earnings season continues on Wall Street - big companies reporting today include Coca-Cola, Visa, Spotify, Booking.com, GM and Starbucks. Top stories Lynas blasts Labor over critical minerals stockpile plan | Australia’s most successful rare earths miner has savaged the Albanese government’s plan to create a critical minerals stockpile. Chalmers raids public sector spending to find $7.2b in savings | Labor is vowing to clamp down on consultants as part of its cuts, while Angus Taylor is promising a mini-budget if the Coalition wins the election. Private equity-backed GP chain a winner from Labor health spending | A large private equity owned and profitable medical centre operator is one of the big beneficiaries of the government’s Medicare policies. Teals ‘underestimated’ enemies and need help, Holmes a Court warns | Climate 200 founder Simon Holmes a Court has launched a “fighting fund” to defend four key teal MPs he says are being outspent and outnumbered by their opponents. Rio warns of ‘material uncertainty’ over Bell Bay smelter’s future | Despite six years of negotiations, the mining giant and Hydro Tasmania have not reached a deal over power supply for the aluminum operation beyond December.