ASX 200 LIVE: Shares set to gain as analysts expect strong US earnings; Wall Street rise on tech rally; bitcoin up 2.5 per cent; copper near $US10,000, Tesla down

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ASX 200 LIVE: Shares set to gain as analysts expect strong US earnings; Wall Street rise on tech rally; bitcoin up 2.5 per cent; copper near $US10,000, Tesla down
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Shares set to gain as analysts expect strong US earnings; Wall Street rise on tech rally; bitcoin up 2.5 per cent; copper near $US10,000, Tesla down. Follow updates here.

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The stock market rebounded after a $US2 trillion selloff, with investors hanging their hopes on whether big tech will meet the lofty expectations for artificial intelligence during the busiest week of the earnings season. About 180 S&P 500 companies β€” more than 40 per cent of its market capitalisation β€” are due to report their results this week.

Lower rates had earlier appeared to be on the horizon after inflation cooled sharply last year. But a string of reports this year showing inflation has remained hotter than expected has raised worries about stalled progress. Worries about β€œsticky” inflation are one of the reasons strategists at Stifel are encouraging investors to stay cautious. Stocks generally look more expensive, in part because of a frenzy on Wall Street around anything related to artificial-intelligence technology.

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