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 set to open lower this morning with ASX futures off by 0.4% as a bout of selling has captured global equity markets despite any significant market moving news.
On Wall Street the S&P 500 and Nasdaq eased back from the previous session's record closing highs, but the blue-chip Dow suffered the deepest decline amid concerns of a bubble forming. Among the megacap tech stocks shares of Tesla fell on news of an investigation into its Full Self-Driving system in the wake of 50 reports of traffic-safety violations and a series of crashes.
Federal Reserve policymaker John Williams, candidate to become the next Fed chair, has advocated further easing this year citing weakness in the labour market, saying, “The risks of a further slowdown in the labour market is something I’m very focused on…if anything, the information suggested that the tariffs effects have been a little smaller than I expected.
The US dollar index is up 0.5% on the day and at a two-month high. The Australian dollar has fallen back to US65.5 cents. Meanwhile, bitcoin is slightly lower at $121,000.
