Asian shares pulled back on Friday as worries over renewed Sino-US trade tensions weighed on sentiment ahead of the release of June trade data from China, though expectations of a Federal Reserve rate cut later this month kept losses in check. Those bets remained strong despite a rise in US consumer inflation in June and helped to lift the S&P 500 index to a record closing on Thursday. S&P 500 e-mini futures were last up 0.21% at 3,010.25. Federal Reserve Chairman Jerome Powell indicated on Thursday that a rate cut is likely at the Fed's next meeting as businesses slow investment due to trade disputes and a global growth slowdown.
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