The Australian sharemarket faces a softer open as a technology-led sell-off on Wall Street and volatile commodity markets weigh on investor sentiment.

Furniture retailer Nick Scali has downgraded its profit forecast after suffering a 15 per cent drop in written sales orders amid challenging trading conditions.

Cleanaway shares dropped more than 4% as the market weighs a $9.4 billion takeover proposal from EQT Infrastructure ahead of an impending exclusivity deadline.

Australian markets face a softer open following a Wall Street rally driven by strong AI earnings, while ANZ reports a $1.9 billion quarterly profit.

Greg Ward will become Macquarie Group's next CEO when Shemara Wikramanayake steps down in November 2026. The move follows Wikramanayake's 40-year career at the bank, during which the firm's market valuation grew significantly.

Shemara Wikramanayake is stepping down as Macquarie CEO, with internal veteran Greg Ward appointed to succeed her to provide continuity in the firm's strategy.