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 rally this morning with ASX futures pointing 1% higher. This comes as global equities gained overnight, while the US dollar and bond yields rose, whilst precious metals came under further selling pressure.
On Wall Street the S&P 500 rallied to a record-high buoyed by gains in AI related companies, while smaller companies also rose sharply with the Russell 2000 index retracing the previous session's losses.
US factory activity grew for the first time in a year in January, with new orders rebounding sharply, but import tariffs raised raw material prices and strained supply chains. New orders, employment and prices paid indicators all rose.
On the geopolitical front, Iran said talks with the US over a new nuclear deal could get underway in the coming days. Gold slid 5% to its lowest in more than two weeks, to be down 17% since Friday, meanwhile silver has fallen a further 7%.
The US dollar index is up 0.7% on the day, whilst the Australian dollar is currently trading at US69.5 cents.
