Aussie shares dip, ending volatile week on a quiet note

The local share market has finished slightly lower, pulling back from its all-time high ahead of another set of US jobs figures that could shift expectations for US rate cuts.

The benchmark S&P/ASX200 index on Friday dipped 20.9 points, or 0.24 per cent, to 8,511.4 while the broader All Ordinaries lost 4.8 points, or 0.05 per cent, to 8,780.3

Capital.com analyst Kyle Rodda said market participants were treading carefully ahead of the US non-farm report to round out the week on Friday night Australian time.

Economists are essentially forecasting a "Goldilocks print" with moderate jobs growth in January, an unchanged unemployment rate and moderating wage growth, Mr Rodda said.

A number in line with those expectations should support equity strength as markets welcomed solid economic activity, with the door remaining open for a mid-year US rate cut by the Fed, he said.

The ASX200 fell 20.9 points for the week, making up most of Monday's 152.9-point plunge after US President Donald Trump imposed tariffs on China, Mexico and Canada.

The week was also dominated by other announcements by the Trump administration including Elon Musk's DOGE department shedding government workers, the dismantling of USAID and Trump's plan for the US to rebuild Gaza, AMP deputy chief economist Diana Mousina said.

"Some of the initial announcements from Trump can sound absurd and comical but there is always some meaning for US policy in the comments, even if the actual decisions get watered down," Ms Mousina wrote.

Five of the ASX's 11 sectors finished higher and five finished lower, with financials basically unchanged.

Energy was the biggest mover, dropping 1.5 per cent as Brent crude traded close to a five-week low of $US74 a barrel.

Woodside dropped 0.8 per cent and Santos retreated 0.9 per cent.

In the heavyweight mining sector, Fortescue grew 1.9 per cent to $19.72, BHP added 0.6 per cent to $40.48 and Rio Tinto gained 0.5 per cent to $120.77.

In the consumer discretionary sector, Domino's Pizza Enterprises soared 21.3 per cent to a three-month high of $35.93 after announcing it would close 205 money-losing stores, mostly in Japan.

The pizza chain also said its same-store sales in Australia and New Zealand were up 0.6 per cent in the first half - apparently enough to send fast food competitor Collins Foods rocketing 12.7 per cent higher to a two-month high of $8.35

Nick Scali meanwhile grew 10.5 per cent to $18 after the furniture retailer's ANZ business delivered a $36 million half-year net profit after tax, beating guidance of $30 million to $33 million.

Trading has continued to be volatile in the second half, with January sales orders down 8.5 per cent, while rising five per cent in the first week of February.

The big four banks mostly had a quiet day, with CBA basically flat at $162.67, ANZ up 0.2 per cent to $31.01 and Westpac climbing 0.1 per cent to $34.04.

NAB showed more signs of life, rising 0.8 per cent to $40.70

The Australian dollar was buying 62.80 US cents, from 62.68 US cents at 5pm on Thursday.

ON THE ASX:

* The benchmark S&P/ASX200 index on Friday dropped 9.3 points, or 0.11 per cent, to 8,511.4

* The broader All Ordinaries fell 4.8 points, or 0.05 per cent, at 8,780.3

CURRENCY SNAPSHOT:

One Australian dollar buys:

* 62.80 US cents, from 62.68 US cents at 5pm AEDT on Thursday

* 95.28 Japanese yen, from 95.56 yen

* 60.53 euro cents, from 60.34 euro cents

* 50.56 British pence, from 50.20 pence

* 110.68 NZ cents, from 110.64 NZ cents