AU Morning Wrap: ASX drops 1.4%; Dubber dives 30% on revenue restatement

Wall Street Summary
Wall Street has fallen sharply following a solid jobs report for September that increased the likelihood the Federal Reserve will barrel ahead with an interest rate hiking campaign many investors fear will push the US economy into a recession.

The $Dow Jones Industrial Average (.DJI.US)$ closed down 630.15 points, or 2.11 per cent, at 29,296.79, the $S&P 500 Index (.SPX.US)$ lost 104.86 points, or 2.80 per cent, to 3,639.66 and the $Nasdaq Composite Index (.IXIC.US)$ dropped 420.91 points, or 3.8 per cent, to 10,652.41.

AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ dropped 1.41 per cent, or 95 points, to 6667.5 in the opening minutes of trade, in a broad sell-off dragging all 11 sharemarket sectors lower.

Stocks to Watch
$Tyro Payments Ltd (TYR.AU)$: Tyro Payments has announced a cost reduction program which has led to the company improving its guidance for the 2023 financial year.

$Woodside Energy Group Ltd (WDS.AU)$: Woodside Energy has signalled it will consider using its pre-emption rights against a shock move by Japan's Tokyo Gas to transfer its interest in the Pluto LNG project in Western Australia – part of a broader $US2.15 billion ($3.37 billion) deal announced late Friday – to US private equity firm EIG.

$Gold Road Resources Ltd (GOR.AU)$: Gold Road reported gold sales of 39,524 ounces at an average price of $2380 per ounce for the September quarter.

$Link Administration Holdings Ltd (LNK.AU)$: Link Group says it is engaging with Dye & Durham (D&D) to see if they can strike a deal on the group's proposal to acquire Link's corporate markets and BCM businesses.

$Tabcorp Holdings Ltd (TAH.AU)$: Tabcorp will invest $33 million for a 20 per cent equity interest in socialised digital wagering platform Dabble Sports.

$NRW Holdings Ltd (NWH.AU)$: NRW Holdings subsidiary, Primero, has won a long-term contract for the operations and maintenance of Core Lithium's processing plant and related infrastructure at their Finniss project near Darwin.

$Dubber Corp Ltd (DUB.AU)$: On Friday Dubber said its service income for the financial year would be restated from $35.67 million to $25.34 million. This was adjusted in consultation with the auditor to reflect a "modification in the treatment of platform and foundation based income," it said.

Ex-dividend: None

Dividends paid: $Sequoia Financial Group Ltd (SEQ.AU)$, $Orora Ltd (ORA.AU)$, $EQT Holdings Ltd (EQT.AU)$, $Adacel Technologies Ltd (ADA.AU)$, $Saunders International Ltd (SND.AU)$

Commodities
• Iron ore futures rose 0.1% to US$95.7 a tonne. Prices inched 0.13% higher last week.

• Oil prices rallied for a fifth straight session.