Australian shares are set to open lower, following a decline on Wall Street, where a surprising report from Dutch chipmaker ASML weighed heavily on the US tech sector. Futures suggest the S&P/ASX 200 will fall by 32 points, or 0.4%, by around 8am AEST, after the index reached a new record high on Tuesday.
In commodities, oil prices fell sharply after reports emerged that Israel assured the Biden administration its expected retaliatory strike would focus on Iran’s military rather than its oil infrastructure. West Texas Intermediate dropped over 4%, settling below $US71 a barrel, while Brent crude declined to around $US74 a barrel.
Locally, Rio Tinto’s iron ore shipments came in slightly below expectations, with the company shipping 84.5 million tonnes from Western Australia in the three months to September 30, compared to the 85.1 million tonnes anticipated by analysts. Challenger reaffirmed its fiscal 2025 net profit guidance, which remains between $440 million and $480 million.