US equities traded sideways to end the week, however, optimism about the outlook has the S&P 500 on a path to far more record highs this year yet.
Already a subscriber?The Federal Reserve is slashing interest rates, oil is crashing, China is finally moving more determinedly to bolster growth and global stock markets are poised to reset their record high.
The latest American Association of Individual Investors’ survey confirms the continuing optimism for US equities; the S&P 500 reset its closing high record for a 42nd time on Thursday. Vanda Research, however, is seeing some hesitation emerge among individual stock investors, saying its data shows that they are no longer chasing the rally, and“To be clear, retail flows into capital markets are still robust and currently sit at the three-year average of $US1.12 billion a day,” Vanda senior vice president Marco Iachini and vice president Lucas Mantle said in a note. Vanda provides tactical and market strategy advice to institutional investors.
“Nevertheless, we expect retail trading to stay broadly uneventful until the start of the upcoming earnings season. And importantly, semis’ results will likely determine whether individuals will continue to pile in or start taking profits,
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Coast police officer dies near Glen Innes during motorcycle Wall to Wall Ride for RemembranceA 58-year-old Gold Coast police officer has died during an annual police remembrance ride from Brisbane to Canberra.
Read more »
ASX set to rise as economic data boosts Wall Street; Nvidia slumpsThe Australian sharemarket is set for a positive start to the session after stocks rose on Wall Street as markets shift their focus back to the US economy.
Read more »
The $48 billion ‘disappointment’ that sent a shiver through Wall StreetNvidia had a meteoric rise to become one of the world’s most valuable companies, but we just got a snapshot of the AI powerhouse’s vulnerability.
Read more »
ASX set to fall after Wall Street’s tech darlings dive againUS stocks fell sharply again, weighed down by a jobs report that showed a continued labour market slowdown but left traders uncertain about how far the Federal Reserve will go in cutting interest rates.
Read more »
Wall Street faces a lot of pain if the Fed has got it wrongThe start of a Fed rate-cutting cycle is a huge moment for the international financial system. Whether it has come too late remains to be seen.
Read more »
Live: ASX set to edge higher after Wall Street hits new record highsThe Australian share market is set to open higher after Wall Street hit new record highs overnight. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Read more »