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ASX to drop, US rally runs into inflation worries – The Australian Financial Review
Australian shares are poised to open lower. Wall Street closed mixed. Oil higher, gold lower. Bitcoin tops $US52,500. Jobs data ahead.
At 8.40am AEDT, bitcoin was trading at about $US52,500 on bitstamp.net.
Investors need not be overly concerned about inflationyet.
For inflation to rise meaningfully, we need consumer spending to rebound, companies to start investing in new equipment and buildings to meet the rising demand, and zombie corporations to be replaced by companies that will grow instead of just stomp along, Anu Gaggar, senior global investment analyst for Commonwealth Financial Network, said in a note.
All of these outcomes…
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