ASX to edge higher, Wall St lifts on tech earnings and bets on rate cut

  • 📰 abcnews
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 83%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Australian shares are likely to edge slightly higher at the open, after Wall Street was boosted by technology stocks and expectations of a US interest rate cut.

AUD: 70.34 US cents, 56.37 British pence, 62.74 euro cents, 75.88 Japanese yen, $NZ1.04Europe: FTSE 100 +0.1pc at 7,515, DAX +0.2pc at 12,289, CAC +0.3pc at 5,567, Euro Stoxx 50 +0.3pc at 3,490

But the Nasdaq was the best-performing US index, lifting 0.7 per cent to 8,204, driven higher by technology stocks. Second-quarter earnings have been mixed so far, with major banks raising concerns about profit growth in a low interest rate environment.About 30 per cent of S&P 500 companies are set to report their earnings this week, with overall profits now estimated to rise about 1 per cent, according to Refinitiv IBES data.The European Central Bank meets on Thursday and markets are pricing in a relatively high chance of a 10 basis point cut in interest rates.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines