Go to latestPinned post – 4.00AMBefore the Bell: ASX to dropTimothy MooreAustralian shares are set to open lower.ASX 200 futures were down 36 points or 0.4 per cent to 9092 near .. am AEST. In New York, the S&P 500 was 0.6 per cent higher to 7791.38 near 2pm; it reset its intraday record earlier in the session at 7816.70.Real estate, information tech and communications services were powering the S&P 500’s advance on Thursday (Friday AEST).Nvidia extended its recent rally, rising 0.6 per cent and lifting its market cap to $US5.45 trillion. It is fast approaching a 20 per cent rebound from its late July lows.Apple was 0.4 per cent higher, with a market cap of $US5.43 trillion. SanDisk, Western Digital and Micron Technology paced gains in the Nasdaq 100. A key semiconductor index was 2 per cent higher.Market highlightsASX 200 futures are pointing down 36 points or 0.4 per cent to 9092.All US prices near 2pm New York time.AUD -0.04% to US70.59¢Bitcoin -0.4% to $US63,129On Wall St: Dow -0.04% S&P +0.6% Nasdaq +0.8%VIX +0.15 to 14.70Gold -1.1% to $US4358.88 an ounceBrent oil -1.4% to $US87.72 a barrelIron ore +0.1% to $US95.65 a tonne10-year yield: US 4.64% Australia 4.99%Today’s agendaFollow the August reporting season, with dates for all the major ASX companies on the schedule and links to our coverage. Click here.Reporting on Friday are: Abacus Storage King (ASK) and QBE Insurance (QBE).What we learnt on Thursday: You’ll never guess what Telstra’s outage compo cost | The two surprising numbers in Telstra’s earnings; the market operator’s taste of FOMO; Treasury’s American whine.New loan commitments data is scheduled for release at 11.30am AEST. NAB said the second-quarter data will capture the earlier phase of the housing market slowdown. “The data reflects the Q2 average, so is already somewhat dated given the broadening in the housing slowdown seen over recent months. Regardless, it is likely to show a second consecutive fall in new lending commitments, following the sharp acceleration in commitments in H2 last year.”Top storiesChalmers faces heat from states on GST and tax on trusts | East-coast treasurers will press Jim Chalmers to act on a widely expected recommendation to axe Scott Morrison’s special GST deal for WA.Weight-loss subsidies threaten $10b drain on federal budget | The Albanese government is under pressure to make weight loss drugs more affordable but will struggle to do so without breaking the budget.The property downturn is turning into an investor stampede into ETFs | Exchange-traded funds are gathering steam, attracting a record $6.8 billion last month alone amid a scramble for new income-generating opportunities.Canberra Observed: PM’s lewd podcast denials are gaslighting us again | Perception matters in politics and, when it comes to the melons saga, Anthony Albanese’s response has been wanting.Street Talk: Macquarie mulls bid for $25b-plus Stack APAC data centres | While the home-grown infrastructure powerhouse has long been touted as a logical suitor for Stack APAC, its decision to hire UBS shows it is more than just kicking tyres.