1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The renewed threat of war in the Middle East is expected to hang heavy over financial markets again, with ASX futures pointing to a 0.6% drop on the open. US President Trump has declared the ceasefire with Iran “may be over”, before hedging his comments to declare he didn’t think the war would resume.US stocks finished mixed as renewed geopolitical tensions weighed on broader markets, although a rebound in chipmakers helped the Nasdaq outperform. The Dow Jones fell 1%, the S&P 500 lost 0.3%, while the Nasdaq edged 0.2% higher. Technology stocks were mixed. Broadcom surged 4.8% after Apple inked a more than US$30 billion chip supply agreement with the company, while Nvidia climbed 3.7% on reports China may allow leading AI companies to purchase a limited number of its H200 chips. The semiconductor sector rallied more than 2%. The International Monetary Fund cut its 2026 global growth forecast to 3%, citing risks from the ongoing conflict. It also downgraded its forecast growth for Australia to 1.9% from 2%.Elsewhere, minutes from the Federal Reserve's latest meeting showed policymakers remained concerned about inflation. Ahead today, NZ's June manufacturing PMI is due. China's producer price index for June will be released.
