Oil jumps to five-month high, passing $US112
Before the bell: ASX to fall as Wall Street slides
Meta credit risk gauge surges to record on AI spending plans
Australian shares are poised to open lower, after Wall Street fell on renewed concerns about the outlook for the artificial intelligence trade and a fresh jump in oil prices.
S & P/ASX 200 futures were down 16 points, or 0.2 per cent, to 8803 near 4am (AEDT).
The Nasdaq sunk more 2 per cent, dragged down by a selloff in Meta stock after the company predicted it would need to raise hundreds of billions of dollars over the coming years to fuel its artificial intelligence business.
The disclosure fanned concerns over the sustainability of the AI boom. Nvidia and Amazon were both down by more than 3 per cent, and Philadelphia Semiconductor Index slipped 5.6 per cent to its lowest level since July.
Oil briefly topped US$113, nearing its war-driven peak from earlier this year, amid fresh Houthi attacks on Saudi Arabian oil facilities and concerns about escalation between the United States and Iran.
