1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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It was a fairly negative session for global equities overnight, as investors rotated out of the tech sector, yet precious metals rebounded after a steep selloff. The local market is set to open lower, with ASX futures pointing down 0.32%.
The Nasdaq dragged 2% lower, following a sell-off in tech stocks due to concerns about AI creating more competition for software makers. Nvidia and Microsoft shares fell heavily, while Alphabet, which reports its earnings tomorrow morning fell along with Amazon ahead of its report the following day.
Oil prices have continued to climb after the US shot down an Iranian drone in the Strait of Hormuz, escalating tensions between the two countries. Meanwhile gold and silver prices rebounded sharply, with silver up more than 7%, and bullion rising more than 6%, marking its biggest daily increase since 2008.
The US dollar index is down 0.2% on the day, whilst the Australian dollar extended its post-RBA rally to and is currently trading at US70.2c.
