Australian shares are set to drop as Wall Street turned mixed ahead of a big week for earnings.
Read today’s paper,Stocks turned mixed in afternoon trading on Wall Street as investors prepare for another busy week of corporate earnings.P 500 fell 0.3% as of 12:41 p.m. Eastern. Even though the index was roughly split between gainers and losers, declines in several tech giants including Facebook, Google’s parent company and Microsoft pulled the overall index lower. The Dow Jones Industrial Average fell 8 points, or less than 0.1 per cent, to 35,080 and the Nasdaq fell 0.3 per cent.
“Some of the emotion that we’ve been dealing with in the first several weeks of the year has started to ease,” he said. “You almost needed that; the expectations had been so high.” “A low tech exposure, high energy/resources and large cap weighting has insulated the UK equity market from the worst of the January global rout,” Jefferies analysts wrote in a note.
Traders returning from their long break are having to contend with challenges ranging from weak local manufacturing and housing data to an expanding camp of hawkish foreign central banks. Economic trends during the festive period -- typically a boon for spending and travel -- have been disappointing, even with the Winter Olympics.Currencies
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