US chip stocks slipped in premarket trading: NVIDIA (NVDA.O) -0.8%, AMD (AMD.O) -2.0%, Intel (INTC.O) -1.0%, Marvell (MRVL.O) -2.7%, Applied Materials (AMAT.O) -2.3%, Broadcom (AVGO.O) -1.3%.

People familiar with the matter said an Adnoc logistics subsidiary is negotiating to acquire a significant stake in HEA Energy, valuing the Middle East offshore energy services company at up to $3 billion. If completed, the deal would bolster the UAE’s footprint in offshore oil and gas services. The talks come months after the UAE exited OPEC.

Commonwealth Bank economist Belinda Allen said the Reserve Bank of Australia’s November policy meeting remains highly uncertain. CBA still expects no rate hike but concedes a substantial risk of being wrong. Allen said recent RBA commentary has been noticeably hawkish—focusing on upside inflation risk and paying less attention to downside growth risk—signalling the bank remains worried inflation could persist and may need to maintain a more cautious policy stance.