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 negative start to the week with ASX futures pointing down 0.25%. Global shares gained mostly higher on Friday ahead of this week's highly anticipated Federal Reserve interest rate decision.
The latest read on US inflation came in line with forecasts, boosting expectations that the Fed will make another cut, and that saw the US dollar weaken further, while stocks rose on Wall Street. All three indices advanced for the second straight week with the S&P 500 up 0.3% for the week, the Nasdaq rising 0.9%, and the Dow up 0.5%.
US consumer spending increased 0.3% in September adding to three straight months of gains, while a lackluster labour market and rising cost of living curbed demand. Meanwhile, annual inflation rose at its fastest pace in nearly 1-1/2 years in September with the Personal Consumption Expenditures Price Index increasing 0.3%.
The US dollar slipped on Friday, whilst the Australian dollar is trading at US66.4 cents.
