Australian shares face headwinds on Friday as Middle East peace negotiations between the US and Iran stall, weighing on global markets. Wall Street retreated from record highs as semiconductor stocks pulled back after an extraordinary year. Local earnings from Macquarie, QBE, REA and News Corp will guide the ASX, with the federal budget looming next week.

Join James Gruber, Equity Market Strategist, and Gillian Bowen, Head of Media and Markets at CommSec, as they take you through all the key numbers.

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