ASX futures dip as global tech selloff hits markets (2 Nov)
- ASX futures are pointing toward a softer opening following a global equity selloff.
- Nasdaq 100 contracts have fallen by approximately 3.5% amid rising volatility.
- The Reserve Bank of Australia is expected to announce an interest rate decision on Tuesday.
- 4DMedical shares dropped 25.61% after a proposed constitutional amendment failed to pass.
- ASX 200 technical support is identified at 8,800 with resistance near 9,000.
Australian share market futures are pointing toward a softer opening as global equities experience a selloff and a shift toward risk-averse trading. SPI 200 futures reached a seven-week high overnight as they moved toward the 9,000 level.
This follows earlier reports from 29 October that ASX 200 futures were trading near the 9,000 level. Market data from the London Stock Exchange is delayed by at least 15 minutes and should not be used for trading or investment decisions.
Global tech selloff triggers market volatility
E-mini S&P 500 futures have declined by approximately 1.8%, while Nasdaq 100 contracts have fallen by roughly 3.5%. Volatility gauges have risen, with VIX futures increasing by more than 12%.
The S&P 500 index declined by more than 2.00% over the two trading sessions prior to the latest report. Earlier, on 29 October, Nasdaq 100 futures fell by about 1% after giving up gains from the previous night.
RBA interest rate decision looms on Tuesday
The Reserve Bank of Australia is set to announce an interest rate decision on Tuesday, 3 November 2026. The cash rate is currently at 4.6%.
The Reserve Bank of Australia is anticipated to announce an interest rate hike next Tuesday.
ASX 200 technical levels and pivot points
SPI 200 futures have broken back above the 200-day simple moving average. Resistance for the ASX 200 is identified at 9,000, with additional high-volume nodes located at 9,050.
Options positioning on the cash ASX 200 suggests 8,900 is a potential pivot level, with heavy call positioning between 8,925 and 8,950. Support for the ASX 200 is identified at the 8,800 level.
Retail sector performance and moving averages
JB Hi-Fi reported Q1 FY27 comparable sales declines of 1.4 per cent for Australian stores, 0.4 per cent for The Good Guys, and 4.5 per cent for e&s. Super Retail Group reported like-for-like sales growth of 0.2 per cent, with BCF down 1.1 per cent, Macpac down 11.7 per cent, and Supercheap Auto up 2.5 per cent.
Wesfarmers reported that Bunnings sales growth has moderated, while Kmart and Officeworks maintained steady performance.
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Corporate movements and recent share price shifts
4DMedical (ASX:4DX) shares dropped 25.61% after a proposed constitutional amendment failed to pass at the annual general meeting. The company previously saw shares fall 4.99% on 28 October following updates regarding commercial scaling costs and higher operating expenditure.
BMC Minerals (ASX:BMC) shares declined 6.59% after a quarterly spending update and a large shareholder block trade. Meanwhile, Ampol (ASX:ALD) shares fell 3.75%.
Market sector trends and economic data
Financials gained 1.9% and Real Estate increased 1.8% during the session. Consumer Discretionary fell 2.0% and Staples shares declined 1.8%.
Australia's Q3 Producer Price Index was released on Friday, 30 October, with a consensus expectation of 1% growth.
Frequently Asked Questions
- Australian Stock Market Today: ASX Futures Dip On US Tech Selloff And RBA Decision (finance.yahoo.com)
- Australian Stock Market Today: ASX Futures Edge Up On Stubborn Inflation And RBA Risk - Simply Wall St News (simplywall.st)
- ASX 200 Outlook: Retailers Signal Consumer Strain Ahead of RBA (forex.com)
- ASX (tavily.com)
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