ASX to fall as tech stocks weigh on Wall Street

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 90%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Australian shares are set to open slightly lower as tech stocks dragged Wall Street, G7 ponders a cap on Russian oil prices, follow for live updates.

Australian shares are set to open slightly lower as tech stocks dragged Wall Street down and the G7 pondered a cap on Russian oil prices and a ban on gold imports.P 500 -0.2% Nasdaq -0.7%Russia defaulted on its external sovereign bonds for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors.

Wall Street analysts are sticking with their bullish earnings forecasts for this quarter, and Morgan Stanley’s Lisa Shalett says they need a reality check. “Economists have begun to cut their top-down economic forecasts for GDP, and yet fundamental company analysts are sitting there like deer in headlights not knowing what to do with numbers,” the Morgan Stanley Wealth Management chief investment officer said on Bloomberg TV.

“We just don’t see how we don’t get a recalibration here from the analysts that take the E in P/Es down.” Michael Burry, the founder of Scion Asset Management who was made famous by “The Big Short,” suggested on Twitter that the “Bullwhip Effect” happening in the retail sector may lead to the Federal Reserve reversing rate increases and its quantitative tightening policy.

 

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:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX set for flat start, tech stocks drag on Wall StreetAustralian shares are set for a sluggish start on Tuesday, after a sell-off on Wall Street as tech stocks dragged. wallst warst poverty classwar occupy occupywallst wallstreetbets WallStreet wallstreetfinance homeless starvation grifters StocksToBuy StockMarket scam cryptocurrecy StopPutinNOW eattherich fascism bank bankers
Source: abcnews - 🏆 5. / 83 Read more »

ASX to nudge downward as tech stocks weigh on Wall StreetAustralian shares are set to open slightly lower as tech stocks dragged Wall Street down and the G7 pondered a cap on Russian oil prices and a ban on gold imports.
Source: FinancialReview - 🏆 2. / 90 Read more »