Australian shares are set to open higher, taking direction from overseas. Techs fuel Wall Street rebound. $A resets lower. Oil set to take out $US85 barrel.
Sydney’s Pacific Equity Partners has been a money-making machine for 25 years. It lifts the lid on the firm’s culture, and how it is changing with the times.AUD -0.8% to 66.50 US centsIn New York: BHP -1.1% Rio -1.4% Atlassian +2.1%Spot gold +0.7% to $US1959.49/oz at 4.59pm in New York10-year yield: US 3.95% Australia 4.07% Germany 2.49%warns on US equities: “Near-term, an SP 500 4500-4620 range still looks important, and upside looks limited before SPX starts to turn lower to test 4500.
“My short-term call might have ‘jumped the gun’ a bit, but I do not expect that US Equities have much near-term upside, and should be on the verge of turning lower. In my experience, bearish engulfing patterns following a period of lacklustre breadth following a run-up normally extend lower. However, Friday’s recovery certainly might have postponed this by a few days.
“We anticipated firms would exceed the low bar. So far 55 per cent of reporting firms have beaten consensus estimates, above the historical average, and the aggregate year/year EPS decline of 7 per cent is tracking 200 bp better than feared. However, investors have not rewarded stocks posting positive surprises. On the day after releasing results, stocks beating consensus expectations underperformed by a greater amount than almost any time during the past 18 years.
writes on monetary policy, equities, commodities and currencies. He is the overnight markets editor and writes Before the Bell.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Four feared dead after Australian military helicopter crash in WhitsundaysFour people are feared dead after a military helicopter crashed near Hamilton Island in the Whitsundays during a training exercise involving Australian and US forces.
Read more »
Four military personnel missing, feared dead after Australian helicopter crashes into Queensland oceanFour military personnel are missing after an Australian Army helicopter ditched into the ocean off North Queensland. AislinKriukelis 9News DETAILS:
Read more »
Four feared dead in Australian Defence Force helicopter crashDefence Minister Richard Marles has confirmed four crew members of an Australian Army helicopter are missing after the aircraft crashed into waters off Hamilton Island during joint military exercises. Read more:
Read more »
Four military personnel missing, feared dead after Australian helicopter crashes into Queensland oceanFour military personnel are feared dead after an Australian Army helicopter crashed into the ocean off Hamilton Island overnight. DETAILS: WATCH LIVE at 6pm for a FULL report. 9News
Read more »
Four feared dead after Australian military helicopter crash in WhitsundaysAustralia and the United States’ top defence and foreign policy officials have paid tribute to the four defence personnel who are feared dead after a military helicopter crashed near Hamilton Island.
Read more »