Business
ASX to slip, Wall St rallies on earnings, data – The Australian Financial Review
Australian shares appear set to edge lower even as earnings and economic data helped the S&P 500 and Nasdaq reset record highs. $A slips.
Of the 265 companies in the S&P 500 that have reported so far, 86.8 per cent have topped analysts earnings estimates, with Refinitiv IBES data now predicting a 44.7 per cent jump in profit growth.
The Nasdaq Composite reset its record high shortly after the open, and while it was down on the day at noon, it recovered to end up 0.2 per cent.
US economic growth accelerated in the first quarter, fuelled by massive government aid to households and businesses, while a labour market report showed 553,000…
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