{
  "id": 18012165,
  "title": "Live: US midterms in sharp focus, oil price eases",
  "url": "https://urgent.news/2026/11/03/live-us-midterms-in-sharp-focus-oil-price-eases",
  "topic": "world",
  "section": "World",
  "published": "2026-11-03T19:58:32.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-11-04/asx-markets-business-live-news-nov-4/107343406"
  },
  "original_language": "en",
  "account": "As the US midterms loom on the horizon, the financial markets are bracing for volatility. Investors have taken a cautious approach, shifting back into big tech stocks. However, the NASDAQ continues to struggle, currently in correction territory. Oil prices have also dipped, as have the Australian dollar's valuations.\n\nIn yesterday's market, the Nasdaq experienced an overnight rally as AI-focused companies saw a rebound ahead of the US midterm election outcomes. Notably, Apple's stock dipped slightly after the company revealed that its iPad sales in the fiscal fourth quarter fell short of analysts' expectations.\n\nWall Street's fear index, the VIX, experienced a 2% drop overnight. This decrease indicates that investors are feeling more at ease regarding both the AI market and the recent drop in oil prices. Nevertheless, some analysts are concerned about the overall resilience of the market.\n\nThe current economic climate is fraught with uncertainty. Factors such as US President Donald Trump's unpredictable trade policies, the ongoing Iran war, and the prospect of further interest rate hikes have all contributed to this state of uncertainty. These elements have combined to push borrowing costs to their highest levels in decades.\n\nFormer Goldman Sachs chief economist, Jim O'Neill, warned that rising interest rates often expose the most vulnerable times and entities within the global economy. Those who are excessively exposed to these conditions are likely to suffer the most.\n\nThe ABC's business blog began the day with a discussion of Wall Street's fear index, the VIX, which had fallen by 2 percent overnight. This decrease suggests that a sense of calm is returning to the market. Additionally, the falling oil price appears to be contributing to this positive sentiment.\n\nWhen it comes to specific stocks, there seems to be a rotation of investment capital from industrial stocks to major technology companies. Apple is the exception to this trend, having experienced a 2% decline following the release of disappointing iPad sales figures for the fiscal fourth quarter. These sales figures failed to meet the expectations set by the Street.",
  "summary": "Futures are pointing to a modestly lower open for the Australian share market as the US midterms come into sharp focus. Follow the day's events and insights from our business reporters on the ABC News live markets blog.",
  "key_points": [
    "US midterms approaching, investors cautious",
    "Oil prices drop, Australian dollar weakens",
    "Nasdaq in correction, VIX down 2% overnight"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}