Live: ASX to fall as price of oil rises

The Australian share market is set to open lower when it opens after gains on Wall Street.

The Nasdaq Composite has rallied nearly 2 per cent.

Meanwhile, the price of oil is rising again, trading at $US92 a barrel.

Follow the day's financial news and insights from our specialist business reporters on our live blog.

Disclaimer: this blog is not intended as investment advice.

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Interest rate hikes, falling house prices and major changes to property tax rules have led to a 15% drop in new home lending in the September quarter.

Good morning everyone and happy Thursday,

Business reporter Adelaide Miller here, great to be back with you on this sunny morning.

I'll be taking you through the latest business, finance and economics news from across the globe.

To start with, the ASX 200 is set to open in the red, when the market opens later this morning, with Futures pointing down -0.5% to 9,148 points.

That's as Wall Street wraps the final hour of trading in the green (will provide a breakdown shortly).

The Aussie dollar is also down, trading just under 69 US cents.

But for now, grab yourself a coffee and see you back here soon!