Australian shares are poised to fall, extending their losses amid a tech-fuelled sell-off in New York. Tesla was lower as investors awaited its third-quarter results after the closing bell.
Apple paced losses among the megacaps, paring some of the week’s earlier advance after AT&T’s chief executive said while demand for the latest iPhone was “strong”, it was not record-breaking.
The tech sector also was hit by a Reuters report that the Trump administration is considering a plan to curb a dizzying array of software-powered exports to China.
Netflix plunged 10 per cent, its biggest intraday drop in more than three years, after it reported a tax dispute with Brazil had cut into its third-quarter earnings. It reported the news after the previous day’s closing bell.
Market highlights
ASX 200 futures are pointing down 40 points or 0.4 per cent to 8995.
All US prices near 1.25pm New York time.
AUD -0.03% to US64.87¢Bitcoin -4% to $US108,031On Wall St: Dow -0.8% S&P -1% Nasdaq -1.6%VIX +1.45 to 19.32Gold -1.8% to $US4050.77 an ounceBrent oil +2.3% to $US62.71 a barrelIron ore +0.6% to $US104.15 a tonne10-year yield: US 3.95% Australia 4.11%Today’s agenda
Companies set to report on Thursday: Alcoa, Coronado Global Resources, Fortescue, Insignia Financial, Northern Star Resources and Regis Resources.
Annual meetings to be held on Thursday: Auckland International Airport, ASX, Bapcor, BHP, Brambles and Cochlear.
There is no local data scheduled for Thursday.
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