Australian shares are set to open lower. Wall Street slid broadly. The world’s top central bankers are gathering in Portugal after rate peaks were set higher.
Regal Funds Management portfolio manager Jessica Farr-Jones is betting on the luxury goods sector even as most pundits prepare for a market sell-off.AUD -1.1% to 66.80 US centsTesla -3% Apple -0.2% Amazon -0.6% Meta +1.4%Brent crude -0.4% to $US73.85/barrel in New YorkUnited StatesCo is cutting about 40 investment bankers in North America, as the Wall Street giant adds to international reductions amid a dealmaking slowdown.The latest cuts span all levels of seniority, according to Bloomberg.
Lilly’s oral drug, orforglipron, produced an average loss of about 15 per cent of a person’s body weight in 36 weeks when given daily at the highest dose to adults with obesity, according to a mid-stage study published in theTD Securities said it is betting that copper will fall. “We initiate a tactical short in LME one-month copper, in line with our view that copper’s stimulus-relief rally is overdone, as prices have remained resilient despite fast-slumping demand expectations.
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