Canadian Copycats
NAB Morning Call
00:00
The Unusual Rally in Equity Markets
US equity markets have been behaving very strangely this year, haven't they? Almost as though they are oblivious to what's going on in the economy or the wider world. So maybe reality check at long last. Now getting the message perhaps that more hikes are coming. They've taken a hit alphabet down 3.7%, for example, met it down 2%. So basically, add dependent tech stocks are hurting today. But it has been curious, isn't it, how well US stocks have done so far this year? The S&P 500 up over 11% year to date compared to 1% for the ASX.
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