ASX to rise; Apple notches record quarter; ResMed earnings up 9pc

Australian shares are set to open modestly higher, with futures paring earlier gains as US equities turned lower in late trading.

Futures indicate the S&P/ASX 200 index is set to open up 13 points or 0.2 per cent at the start of trade.

Overnight on Wall Street, Facebook parent Meta slumped, dragging down most of the magnificent seven mega-cap technology stocks, the S&P 500 Index and the Nasdaq Composite. The Dow slipped.

Meta was 11.3 per cent lower at 4pm in New York. The drop came after it tipped plans to invest significantly more than expected into artificial intelligence.

Source: https://www.afr.com/markets/equity-markets/asx-to-rise-meta-slump-drags-down-s-and-p-500-20251031-p5n6o9