he ASX is set to dip following negative performance from Wall Street overnight. According to the latest SPI futures, the ASX 200 is expected to open 18 points or 0.25% lower on Friday morning. Whilst the ASX is expected to close lower, it finished strongly yesterday. An afternoon materials rally of 2.6% accounted for the ASX finishing 0.5% higher at the close on Thursday. Record high inflation in the US is set to reek havoc with S&P 500 companies to raise the cost of their products as Joe Biden’s approval rating plummets.