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 for a strong opening with ASX futures up 1%. This comes after global equity markets rallied overnight as investors remained optimistic about a US interest rate cut in December.
A raft of disappointing economic data supported the case for the Fed to lower rates when it meets early next month and that optimism saw stocks on Wall Street advance, although weakness in the tech sector limited the Nasdaq's gains, while the Dow was boosted by healthcare stocks.
A number of US economic data releases which had been delayed by the government shutdown have been released showing further signs of weakness. Retail sales in September rose just 0.2%, well short of forecasts, while producer price inflation increased slightly ahead of expectations to 2.7% year on year.
Gold has slipped slightly to be around $4,130 an ounce, meanwhile the US dollar index is down 0.4% on the day. The Australian dollar is at US64.7 cents.
