Why IMU is a multi multi bagger, page-12899

Interesting trading on global markets overnight. In the end not much movement in all indices though.

All European markets fairly flat but in positive territory.

In the US the DOW closed lower - down 46 points. The NASDAQ Biotech Index rose and closed up 39 points. NASDAQ closed down 14 points.

Some things to note:
The US market is oil company heavy (Australian market is mining company heavy by comparison). Oil prices slipped 2% and this is the main reason for the falls in the US.

US Fed makes its interest rate decision this week and that is weighing on the markets over there - expectation of another interest rate rise.

On the positive side, JPMorgan is buying up most of the troubled First Republic Bank which should ease the current banking woes in the US.

Gold and Bitcoin continue to slide lower - normally a pointer to more funds going into other assets such as the share market.

Not convinced that the drop in the US markets will be a drag on the ASX today. Maybe flat but possible finish in the green.