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 down 0.3%. This comes as stocks on Wall Street turned negative as declining financial shares and simmering trade tensions between the United States and China dampened investor enthusiasm, while gold prices surged.
The major US indices reversed earlier gains with the absence of data prompting investors to consider the implications of a protracted trade war between the US and China, while weakness in regional bank earnings further spooked the market. Salesforce jumped after the business software seller forecasted a revenue of more than $60 billion for 2030, above Wall Street estimates.
China has accused the US of stoking panic over its rare earth controls and rejected a White House call to roll back the curbs. This is after US negotiators suggested China could avert President Trump's threat to impose 100% tariffs on Chinese goods by scrapping the measures set to take effect on November 8th.
The US dollar is down 0.5% on the day, whilst the Australian dollar has also fallen, currently trading at US64.8 cents.
