Business
ASX set to jump as tech titans lead Wall Street rebound – Sydney Morning Herald
The ASX is set to surge at the open as Wall Street investors took advantage of a three-day selloff to buy cheaper technology stocks.
“On one level it looks speculative but on another it is almost defensive because we know these companies will survive no matter what COVID throws at us.”
Analysts also said the Nasdaq’s ability to hold its 50-day moving average, a technical support level, was key in reversing the market’s direction.
The Dow Jones Industrial Average rose 1.6 per cent, the S&P 500 gained 2 per cent and the Nasdaq Composite added 293.87 points, or 2.7 per cent. It sets up the ASX for a strong start, with futu…
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