Australian shares set to open higher
Australian shares are set to start the final session of the week on a positive note, reflecting a turn higher anew for tech stocks on Wall Street.On Wall St at 2.30pm: Dow +0.5% SThe local currency leapt 0.9 per cent, topping US67¢; the Bloomberg dollar spot index slid 0.6 per cent.The yield on the US 10-year note slid 8 basis points to 3.72 per cent at 2.22pm in New York.
Vanda said a recovery in banking shares gave smaller investors a chance to cash out of regional bank stocks and shift that money into classic long-term holdings including Tesla and Apple. The top five retail stocks bought by smaller investors, based on the value of stock purchased were Tesla, Apple, Advanced Micro Devices, Nvidia and Amazon, according to Vanda.Bullish sentiment, expectations that stock prices will rise over the next six months, surged 15.5 percentage points to 44.5 per cent the past week, according to the latest survey by the American Association of Individual Investors.
The bull-bear spread rose to 20.2 per cent, up 28.0 percentage points. The bull-bear spread is at its highest level since November 11, 2021 .
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