US stocks opened lower: Dow -0.64%, S&P 500 -0.43%, Nasdaq -0.47%. NVIDIA (NVDA.O) rose 2.3% after the company raised its share buyback authorization by $150 bln. Meta Platforms (META.O) fell 0.9% following a near-13% gain over the prior week. SpaceX (SPCX.O) was roughly flat as its Starship reached orbit for the first time.

UK Chancellor John Healey said fiscal discipline will be the core of his first budget on Oct. 28, warning that debt-servicing costs are crowding out funding for public services. Speaking at the Labour conference, Healey said the budget’s aim is to create breathing room for households and businesses, support growth and jobs in more regions, and open a hopeful new chapter for the UK. He said high debt levels run counter to Labour values and that he and the prime minister are aligned in sticking to fiscal rules.

Australian treasurer says he expects global interest rates to be broadly higher; will not comment on expectations for tomorrow's Reserve Bank of Australia decision.