Business
ASX to rise; Wall Street rebounds strongly; GameStop rally halts – The Sydney Morning Herald
The ASX 200 is expected to claw back some of yesterday’s losses after US stocks rebounded strongly overnight.
With quarterly earnings season in full swing, market participants have looked to whether companies could justify high valuations, with the forward price-to-earnings ratio on the benchmark S&P index near 20-year highs at almost 22.7.
By and large the surprises have been positive, even more so than typical and by and large companies are showing positive operating leverage where they are able to grow earnings a little bit faster than they are able to grow revenue, said Ellen Hazen, portfolio manager…
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