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 higher with ASX futures up 0.4%, whilst global equities have begun the week negatively following five straight sessions of gains.
US stocks were weighed down by rising Treasury yields as the data showed persistent weakness in the manufacturing sector due to the tariff impost. Shares of EV maker Tesla slipped as monthly registrations, which are regarded as a proxy for sales, slumped by 58% in France from a year earlier. And shares of cryptocurrency and blockchain-related companies fell as Bitcoin extended its losses after its steepest monthly decline since the 2021 crypto crash.
US consumers are expected to spend more than $14 billion on Cyber Monday, according to Adobe Analytics, after a strong Black Friday weekend that saw wealthier consumers spend freely and lower-income shoppers hunt for deals.
Gold has risen to a six-week high, supported by growing expectations of US interest rate cuts and a weaker US dollar, while silver struck a record high ahead of key US economic data. The US dollar index is little changed, whilst the Australian dollar is trading at US65.4c.
