Consumer staples stocks rose 0.6% at midday Friday.

A US federal appeals court decision allowed the administration of US President Donald Trump to continue collecting tariffs, as the US government pursues an appeal against a trade court ruling that found the president had overstepped his legal authority in imposing the tariffs.

New Zealand King Salmon Investments (ASX:NZK, NZE:NZK) said it revised down its earlier fiscal 2026 pro-forma earnings before interest, taxes, depreciation, and amortization guidance after the board decided to reduce harvest volumes for around four months to rebuild biomass.

On the flip side, the information technology sector struggled, retreating 1.5%. US stock futures slipped, with the Nasdaq-100 futures falling 0.3%.

Dropsuite (ASX:DSE) said that the scheme of arrangement for the acquisition of all the issued shares in the firm by NinjaOne Australia was implemented on Friday. Dropsuite's shares on the ASX were suspended at the close of trading on Wednesday, and it intends to apply for its removal from the official list of the ASX with effect before the open of trading on June 2.