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 lower with ASX futures off by 0.2%. This comes as global stocks ended mostly lower overnight and gold extended its losses.
Wall Street's major indices fell, prompted by a sell-off in tech shares amid mixed earnings results, while investor sentiment soured on reports that the Trump administration is considering curbs on exports of US software to China. Tesla has reported a record third-quarter revenue of $28.1 billion, driven by the highest quarterly sales of its EVs. Meanwhile, Netflix shares fell heavily a day after the streaming company missed quarterly profit expectations.
The Trump administration is reportedly considering a plan to restrict software-powered exports to China in retaliation against Beijing's latest round of rare earth export restrictions. Chinese imports currently face US tariffs of around 55%, which could rise to 155% if President Trump follows through on his threatened tariff hike.
The US dollar index is little changed, meanwhile the Australian dollar is trading at US64.9 cents. And bitcoin has fallen to $107,000.
