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 open marginally higher with ASX futures up 0.1%. This comes as global equities ended in the red overnight with European shares at three-week lows.
On Wall Street the main indices fell on data showing the economy grew faster than previously estimated in the second quarter, amid strong consumer spending and business investment and with more Fed members urging caution about cutting interest rates too quickly.
The US economy grew faster than previously estimated in the second quarter, though momentum appears to be slowing as the effects of tariffs become evident. Gross domestic product increased at an upwardly revised 3.8% annualised rate last quarter, the fastest pace since the third quarter of 2023. Meanwhile, the number of Americans filing new applications for unemployment benefits fell last week, but the labor market has lost its luster amid an anemic pace of hiring.
The US dollar index is up 0.7% on the day, meanwhile the Australian dollar has fallen to US65.4 cents. And bitcoin has fallen back to $109,000.
