Australian shares are poised to rise, with a positive lead from New York. US markets closed for a holiday. China data set for Tuesday.
The annual World Economic Forum meeting is about to get underway in Davos. European correspondent Hans van Leeuwen and special contributor Peter Holmes a Court go to head-to-head on whether the world should care.On Wall St: Dow +0.3% SIn Europe: Stoxx 50 +0.6% FTSE +0.6% CAC +0.7% DAX +0.2%10-year yield: US 3.50% Australia 3.59% Germany 2.16%P 500 is expected to report a year-over-year decline in earnings of -3.
However, FactSet notes that the actual earnings growth rate has exceeded the estimated earnings growth rate at the end of the quarter in 38 of the past 40 quarters for the SBank of America sees the SP 500 trading in a range of 3600 to 4200 – with the index currently positioned for the low end. [The index ended last week at 3999.]
In its big picture view, BofA said slowing inflation and falling unemployment claims are two huge positives with consensus paring rate rises this year to just 0.5 per cent and then forecasting 2 per cent of cuts over the next 18 months.
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