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 slightly lower to begin the new quarter with ASX futures off by around 5 points. This comes as global equities initially fell overnight ahead of a likely US government shutdown, but then recovered to finish in the green.
In a choppy session on Wall Street the major indices closed higher, marking quarterly and monthly gains. For the month the S&P 500 gained 3.5%, for its biggest September gain since 2010 while for the quarter it was up 7.8%. The Nasdaq was up more than 5.5% for the month to be up 11.25%, the best third-quarter gain in 5 years. And the Dow was up 1.9% across the month, climbing more than 52% for the quarter.
Meanwhile, the US government looks to shut down on Wednesday if lawmakers do not reach an agreement to extend government funding. Democrats want to modify the must-pass spending bill to extend health benefits for millions of Americans that are due to expire at the end of the year. Republicans say they must tackle that issue separately.
The US dollar index was down 0.2% on the day, whilst the Australian dollar climbed back above US66 cents after the Reserve Bank decision to leave rates on hold.
