Australian shares are set to open lower following a lacklustre trading day in Europe. US markets closed. Bitcoin hovers near $US25,000.
Bendigo Bank war-games the profit versus growth conundrum, why NIB’s profit drop is a good thing, and Reliance Worldwide thinks small.AUD +0.5% to 69.14 US centsStoxx 50 -0.1% FTSE +0.1% CAC -0.2% DAX -0.03%Brent crude +1.1% to $US83.93 a barrelReporting season so far: UBS’ view“Earnings beats are still outnumbering misses , while analysts have consistently been cutting their forward earnings estimates.
“For these companies the bar they have now set for 2H earnings looks challenging in light of a domestic economy which is already losing momentum, and has significant challenges over the coming six months via: 1) further RBA hikes, and 2) a record amount of fixed rate mortgages to be repriced upwards.”Market strategist BCA Research: “We believe the equity rally remains intact and still see the SP 500 peaking in the mid-4000s before eventually revisiting last year’s lows.
United Airlines said it will introduce a seating policy that would make it easier for adults to book adjoining seats for children under 12 without charges after President Joe Biden vowed to outlaw such fees in his State of the Union address this month.
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