Business
ASX to edge up, Wall St bulls are back, $A leaps – The Australian Financial Review
Australian shares are set to rise at the open, bolstered by renewed hopes in New York on earnings and more stimulus money. Oil extends rally. Gold rebounds.
Concerns triggered by the surge in some Reddit army shares have faded and concerns about a pending correction have faded too.
In addition to Fundstrat Globals correction rethink (in short, its done for now), JPMorgan is outright bullish.
JPMs cross-asset team sees room for a 20 per cent rally in equities largely because of the de-risking already completed by institutional investors, from the Reddit army uprising, according to The Market Ear.
JPM puts the current implied equity allocation at 43.8…
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