ASX poised to edge down at the open
Some pundits have been waiting for a correction since the start of the year, but stocks keep defying worries about rates, market breadth and AI bubbles.AUD -0.3% to 64.95 US centsIn New York: BHP -1.4% Rio -1.1% Atlassian +4.6%Spot gold +0.4% to $US1967.33/oz at 2.25pm in New York10-year yield: US 3.63% Australia 3.60% Germany 2.
“Employment increased in most districts, though at a slower pace than in previous reports.” the Fed said Wednesday in the report, published two weeks before each meeting of the policy-setting Federal Open Market Committee. “Prices rose moderately over the reporting period, though the rate of increase slowed in many districts.”Advertisement
May ”saw the sharpest new orders contraction since last July. Mills remain firmly in destock mode; China’s reopening trade continues to disappoint; confidence in real estate is weak. “There has been a significant collapse in the optimism since the beginning of the year, as the end of the zero-COVID policy in China failed to materialise into a step-change lift in demand.”
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