| | |
Homepage | login or create an account

Tech weight

Read More:
Fuseworks Media
Fuseworks Media

By Michael McCarthy (chief market strategist, CMC Markets and Stockbroking)

US investors are falling away from the tech sector after a string of disappointing quarterly statements. While macro-economic data remains broadly positive the re-adjustment to a more realistic assessment of the tech outlook is weighing on stocks. However bond yields continue to edge higher and oil jumped 2% overnight, pointing to an overall pro-growth stance for markets. Volumes are lower ahead of key data and decisions this week.

Firmer inflation reads in Germany and Spain and better than forecast US housing sales helped bolster broader investor sentiment, limiting stock falls. A slightly weaker US dollar also helped.

China PMIs and Australian building approvals this morning may inform trading today. However the key event is the conclusion of the Bank of Japan’s two day meeting. Analysts are watching closely for any signs of a shift in the BoJ’s Yield Curve Control policy. Any hints that the central bank is moving away from its practice of holding ten year bond yields near zero will likely reverberate through global markets.

Asia Pacific futures are pointing to a weak start to trading. However falls in the region yesterday and a positive outlook for the energy sector may restrain selling. A positive finish to the session is possibly, subject to news flow.

Credit Card Comparison TablesCompare Credit Cards - Independent interest rate and fees comparisons for New Zealand banks.

About : money

Find the latest money news and 'how to' guides on Guide2Money.

Ask our researchers your personal finance questions.

Your Questions. Independent Answers.