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 modestly higher with traders hopeful the start of a new financial year will spur gains across the ASX. ASX futures are up 0.2%.There are reports this morning Iran and the US have agreed to halt recent strikes in the Gulf, and renew peace talks. A return to diplomacy would follow several days of strikes and counterstrikes since an Iranian projectile hit a cargo vessel in the Strait of Hormuz on Thursday, with both the US and Iran accusing the other of breaking an interim ceasefire that was agreed to on June 17. The S&P 500 ended marginally lower on Friday, with a steep drop in AI-related chip stocks and sharp gains in Moderna and other healthcare stocks. The chip index lost 7.9% for the week, its worst week since early April. Crude prices fell by more than 3% on Friday as oil tankers kept exiting the Strait of Hormuz, easing supply concerns the day after a cargo vessel was hit near Oman. Bitcoin has dropped below 60-thousand US dollars, and is 52% off its all time high.Locally this week, Tuesday brings RBA’s June meeting minutes along with private sector credit data, followed by Wednesday's commodity prices and May building approvals. On Thursday the trade balance is set to be released.
