Business
ASX to rise after US tech rallies again – The Australian Financial Review
Australian shares are poised to open higher, bolstered by a solid buy-the-dip rally in New York, and the $A is flirting with US69¢.
“Upside risks” taking the S&P 500 back into the 3300-3600 range are passage of more fiscal stimulus in the US and strong third-quarter tech earnings, the bank said. A downside risk forcing Nasdaq to test 9700 would be a credit breakdown driven by rise in COVID-19 deaths, which it notes is thus far not happening.
Fundstrat Global’s Vito Racanelii also is bullish, echoing some of the same positives noted by Bank of America.
In addition, Mr Racanelli pointed to investment grade bonds trading …
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