Green is the colour of the day as a solid night in the US is reflected by ASX SPI futures 75 points higher
An overall strong recovery in US Tech stocks was led by the giants helping the Nasdaq 2.2% higher while the SP 500 rose 1.4% Semiconductors were particularly strong with Nividia gaining 5% to record highs
Despite the impressive gains JP Morgan remains cautionary by bellowing "Equity markets are now showing overbought conditions, with sentiment moving into complacent territory. This can be seen in high RSIs, elevated Bull-Bear, VIX near lows, tight credit spreads, as well as in the current S&P500 P/E at 20x. Importantly, while a year ago risky assets were fully pricing in a recession, and economists unanimously agreed with that, now the picture is quite different, recession probabilities are currently near the lows of the range.”
Bitcoin rose above $47000 for the first time since April 2022
Tesla gained despite Elon Musks' alleged drug use. Not sure why this is an issue tbh, recreational drug use has got me to where I am today
Commodities continue to be out of favour with oil down 4% , gold -1%
Locally November retail sales and building approvals data drops at 11am, tonight US Nov consumer credit and trade balance
