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ASX to slip; oil drops; chipmakers gain

The Australian Financial Review (AFR) •
November 03, 2026 • 04:22 PM
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Wall Street cautious ahead of midterm election results; US job postings jump sharply; AMD to report. Follow live updates.

ASX to slip; oil drops; chipmakers gain

AMD needs a huge outlook to avoid Intel’s fate as AI fears rise

US job postings jumped sharply in September, a sign hiring could pick up

Australian shares are set to open slightly lower, as investors await early results in the United States midterm elections.

S & P/ASX 200 futures were down 5 points, or 0.1 per cent, to 8892 near 3am AEDT.

Falling oil prices boosted Wall Street ahead of crucial election results. Tech stocks led gains, with the Philadelphia chip index climbing almost 3 per cent. Apple bucked the trend, falling 2.7 per cent as investors digested its quarterly report.

Brent Crude fell 1.6 per cent to trade at around $US103, after US President Donald Trump said Washington would stop billions in funding to Israel after the end of this year.

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