Business
ASX set to edge higher; AMC swings sharply on Wall Street – Sydney Morning Herald
The ASX is set to inch higher at the open after a dour day on Wall Street, with meme stock AMC having another wild day.
Technology companies helped drag stocks lower on Wall Street on Thursday (US time), knocking the S&P 500 into the red for the week.
The benchmark S&P 500 index dropped 0.4 per cent and is now on track for a 0.3 per cent weekly loss. Technology companies, whose pricey valuations make them more sensitive to inflation fears, were the biggest weight on the market. Microsoft fell 0.6 per cent and Apple lost 1.2 per cent. The Australian sharemarket is set for a soft start, with futures at 6.59am AEST…
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