Business
ASX set for positive start on back of mixed Wall Street session – Sydney Morning Herald
Stocks are drifting lower in afternoon trading on Wall Street on Tuesday, giving back some of their big gains from a day earlier.
Higher rates force investors to rethink how much theyre willing to pay for stocks, making each dollar of profit that companies earn a little less valuable. Thats making Wall Street reconsider the value of technology stocks, in large part because their recent dominance left them looking even pricier than the rest of the market.
Valuations have just become problematic across certain pockets of the U.S. (stock) market and investors are starting to realise that, said Megan Horneman, director of portfolio…
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