1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Australian shares are set to rise at the open, after European markets climbed, and US indices closed higher.
The S&P 500 reversed earlier losses, and the Dow led Wall Street higher, boosted by gains in Cisco, Amgen, and Coca-Cola, which helped offset another sharp drop in UnitedHealth.
The US President was in the UAE pledging to strengthen ties with the Gulf state and signing deals totalling over US$200 billion. The two countries ultimately agreed to deepen cooperation in artificial intelligence.
Amazon shares fell after rival retailer Walmart warned that it will have to start raising prices this month due to the high cost of tariffs. Deere & Co’s shares surged after its results beat analysts' estimates, though it warned of softer demand for tractors ahead, as farmers opt to rent machines instead of buying.
Oil fell sharply on talks between Iran and the US, and Brent fell 2.1% to $65 per barrel. Copper rose 0.6% and iron ore fell 0.2% to $102. Gold staged a comeback rising 1.8% on the softer dollar and economic slowdown.
The Australian dollar dropped slightly, currently trading at US64.03c, and in New Zealand an RBNZ survey of inflation expectations for Q2 are due.
