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ASX to edge up, Wall St ends higher after wild swings – The Australian Financial Review
Australian shares are set to open modestly higher to end a volatile week. The Dow fell at the open, surged, fell, surged higher, turned negative and then positive.
The Dow then went on a 325 point ‘rally’ through 1.30pm, before it slowly unwound most of that upswing. It turned negative with about 40 minutes left in the day, and turned positive about 10 minutes later.
In a morning tweet, New York time, Allianz’s Mohamed El-Erian summed up the trading: “US stock markets so far today again seem to lack conviction and, therefore,the type of firm direction that builds momentum–and understandably so given the recent weakening of liquidity-related technicals in…
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