ASX to slip, techs pace US stocks lower

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Australian shares are set to edge lower as Apple, Amazon and the other major US techs retreat. $A eyes US67¢.

Workers holding out for a real pay rise in 2023 are likely to be disappointed after most employers revealed in a survey that they would not offer above-inflation salary bumps next year.Local: RBA’s Jonathan Kearns, head of domestic markets, speaks at the 2022 Australian Securitisation Conference in Sydney at 11am AEDT; Third quarter construction work done, building approvals October, private sector credit October and CPI indicator October all at 11.

The Conference Board’s consumer confidence index fell to 100.2, the lowest reading since July, from 102.2 in October. In Spain, inflation abated for a fourth month and by more than anticipated, driven by declines in electricity and fuel costs, though a gauge of underlying prices quickened. The headline number in Belgium, meanwhile, slowed to 10.6%.

 

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