1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The local market is set to begin the week positively with ASX futures up 0.3% although volumes are expected to be light with most of the country observing the Labour Day holiday. This comes as global equities finished last week at new record highs despite the uncertainty surrounding the US government shutdown.
On Wall Street both the S&P 500 and Dow closed at record highs in a volatile session as investors remain buoyed by the prospect of further interest rate-cuts. However, tech shares dragged the Nasdaq lower. For the week, the S&P 500 and the Dow gained 1.1% while the Nasdaq rose 1.3%.
A bid to end the US Government shutdown has failed in the Senate, while President Trump has withheld more than $2 billion in funding to Chicago and has now frozen at least $28 billion in funding for Democratic cities and states.
The US dollar index is little changed, meanwhile the Australian dollar is trading at US65.9 cents. And Bitcoin hit a new record high of more than $125,000 over the weekend, but has since fallen back.
