Australian shares are set to rise, tracking gains on Wall Street overnight.
ASX 200 futures were up 74 points or 0.8 per cent to 8826.
Artificial intelligence stocks dragged the Nasdaq down 0.5 per cent, continuing weakness in the sector. CoreWeave fell again as credit investors grew concerned about its risk of failure. But it pared losses after Nvidia chief Jensen Huang said that the cloud provider was “improving every day”. The Philadelphia Semiconductor Index was down 2.5 per cent.
The US dollar retreated from an 18-month peak.
US producer prices rose in September at the fastest pace in more than four years as higher energy costs reverberated through the American economy. The producer price index advanced 1.3 per cent from a month earlier – the most since March 2022 – and 6.3 per cent from a year earlier, according to the Bureau of Labour Statistics.