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 expected to open positively with ASX futures up 0.2%. Global equity markets finished positively on Friday with European stocks rising from three-week lows, lifted by gains in financials and industrials.
The major indices on Wall Street also rose as the personal consumption expenditures index report for August showed inflation was in line with expectations. However, for the week, the Dow was down 0.2%, the S&P 500 was down 0.3% and the Nasdaq fell 0.7%.
US consumer spending increased slightly more than expected in August with households spending more on holidays and dining out. Personal income rose 0.4% in August after a similar gain in July. The US dollar index closed down 0.4% on Friday, whilst the Australian dollar bounced back from three-week lows, currently trading at US65.5c.
Tomorrow the Reserve Bank will reveal its interest rate decision, and the building approvals data for August along with the private sector credit data will be released.
