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Australian shares are set to open higher. In New York, the Dow rallied to a new intraday record high. The S&P 500 was flat at midday, while the Nasdaq Composite slid. Each of the magnificent seven megacap techs were lower, though modestly so with Meta Platforms leading losses with a 2.2 per cent decline. Republicans in the House of Representatives are expected to approve in a vote on Thursday (AEDT) a funding bill and end the shutdown. “We anticipate that the shutdown’s effects will be temporary and largely reversed when the government reopens,” Vanguard senior economist Josh Hirt said. He does not expect the Federal Reserve to cut rates until sometime in the first half of 2026. Market highlights ASX 200 futures are pointing up 17 points or 0.2 per cent to 8839.All US prices near 12.30pm New York time. AUD +0.2% to US65.42¢Bitcoin -1.8% to $US101,495On Wall St: Dow +0.8% S&P -0.02% Nasdaq -0.6%VIX +0.57 to 17.85Gold +1.7% to $US4,95.14 an ounceBrent oil -3.6% to $US62.84 a barrelIron ore +1.1% to $US102.65 a tonne10-year yield: US 4.06% Australia 4.38% Today’s agenda Results expected on Thursday from Graincorp, Orica, Catapult Sports and Infratil. Companies scheduled to host annual meetings include Arena REIT, AUB Group, Computershare, Catalyst Metals, Greatland Resources, Guzman Y Gomez, Ingenia Communities Group, Inghams Group, Nextdc, Pexa Group, SGH, Superloop, Servcorp and Strike Energy. On the data front, Australia’s October labour force report is due at 11.30am. Overseas, the US House of Representatives is set to vote on a bill that would end the federal government shutdown. The vote is expected to take place at about 7pm (11am AEDT). Top stories Labor threatens Meta with $112m yearly tax if it fails to pay for news | The government will begin consulting on its proposal for new laws that would force social media giants to pay news organisations. Proposed high-speed rail needs ‘realistic costing’, Labor | A high-speed rail line between Sydney and Newcastle is moving ahead as a surge in renewable energy projects intensifies competition for infrastructure investment. Waratah super battery ‘failure’ reveals cracks in $1b contract award | Akaysha Energy won the right to develop the massive NSW storage project despite not having delivered a similar asset, a key criterion of the government auction. Woolworths exec claims 120-hour working weeks with no promotion | Miwah Van was the supermarket giant’s chief growth officer and alleges she was discriminated against and overlooked after being diagnosed with breast cancer. Jennifer Hewett: Liberals double down on net zero fiasco | The party’s debate over climate policy can’t obscure the political numbers. Sussan Ley lost control of her party and is scrambling to catch up.
