ASX to fall after US caution on rates

The news: Shares are expected to fall in early trade on the Australian market after Wall Street traded lower and the US Federal Reserve showed no sign of easing rates.

The numbers: The Dow Jones index was down 0.25% to 35,062.06, the broader S&P 500 was lower by 0.24% to 4,536.54 and the technology-focused Nasdaq was down 0.63% to 14,193.94 in late trade. On the domestic market, the ASX 200 futures was lower by 0.11% to 7075.9.

The context: US markets opened lower and stayed that way as traders examined the minutes of the most recent US central bank meeting. Any hopes of interest rates easing were quelled by the minutes showing: "all participants judged that it would be appropriate for policy to remain at a restrictive stance for some time until inflation is clearly moving down sustainably toward the Committee's objective".

Gaming chip manufacturer Nvidia was almost one per cent lower for much of the Nasdaq session. Traders were waiting for its third-quarter earnings due after the closing bell.