1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Global markets fell heavily overnight, while oil prices surged higher as hopes for an imminent end to the war in the Middle East faded. This is despite US President Trump saying talks with Iran were going very well, while he said he was pausing attacks on Iran's energy plants for 10 days. The local market is set for another day of selling with ASX futures down 1.1%.
Worries about persistent inflation drove US Treasury yields higher and pushed Wall Street's main indices sharply lower with the Nasdaq now in correction having fallen more than 10% from its record high 5 months ago. The energy sector was the biggest gainer, while tech stocks were sold off.
Crude oil prices have rebounded from the previous session's losses, as hopes for a swift end to the war in the Middle East faded. Gold retreated as the US dollar rose along with oil prices which have stoked inflation fears.
The US 2yr yield rose to 3.98%, while the 10yr yield was up to 4.42%. The Australian dollar is down -0.7% to US69 cents.
