Australian shares are poised to open higher, as America’s tech leaders rebounded. JPMorgan and Citibank stumbled to start the latest reporting season.
The lavish yearling sale on the Gold Coast hit a record $229.2 million, but co-owner Gerry Harvey tested positive to COVID-19 on Saturday.Lifestyle buyers are pushing median prices in east coast beach destinations to levels that in some cases are higher than the homes they left.P 500 earnings expected to climb 23.1 per cent, according to Refinitiv IBES. Technology sector earnings are expected to rise by 15.
Tightening monetary conditions will bring an end to pandemic-era liquidity measures, which had flushed the market with cash and driven stocks to record highs through 2021. Petershill, which acquires minority stakes in alternative asset managers, has prevailed in an auction process to invest in Arsenal Capital, the sources said.China stocks closed lower on Friday, as real estate sector woes continued to weigh on investor sentiment, while recent COVID-19 outbreaks in the country added to worries about the effect on the economy.
In Hong Kong, the Hang Seng Index fell 0.2 per cent to 24,383.32, while the China Enterprises Index lost 0.6 per cent to 8554.79. As for the $US, Capital Economics is bullish: “We continue to think that the greenback will strengthen again before long, as we expect strong cyclical price pressures in the US to mean the Fed tightens by more and for longer than investors currently discount. This view was reinforced by [chairman Jerome] Powell’s comments, that the FOMC wants to move interest rates ‘to a place that is more neutral, and then perhaps tight’, which implies the policy rate could eventually rise above 2.5 per cent.
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