ASX to rise, S&P 500 edges higher as rally stalls
The two megacap techs are the first of the magnificent seven set to report June quarter results. They each are set to release statements after Wednesday's closing bell in New York, early Thursday AEST.
'Technology's strength has helped to drive recent performance and has solidified this sector as being the best performing out of all major S&P sectors on a 1-week, 1-month, 3-month, and 6-month basis,' Fundstrat Global technical analyst Mark Newton said.
Newton said near-term and intermediate-term technical trends remain bullish for US equities. 'Momentum and breadth remain constructive on an intermediate-term basis despite some short-term waning. Additionally, seasonality and cycles don't begin to turn too negative until August.'
Market highlights
ASX futures are pointing up 33 points or 0.4 per cent to 8674.
All US prices as near 2.30pm New York time.
Today's agenda
Results are expected on Wednesday from Iluka Resources, Woodside Energy and Paladin Energy.
Top stories
Macquarie risks first-ever strike amid disquiet over bumper pay days | Two influential advisory firms are urging their clients to reject salaries and bonuses, citing a failure to hold executives accountable for compliance issues.
'Seduced by his personality': The fall of a finance fraudster | Linden Toll was a former Sydney Grammar boy and one-time Macquarie futures trader who promised investors interest rates on loans of 10 to 12 per cent. But it was all a facade, writes Tony Boyd.
Chanticleer: Hostplus' $10b property bomb is a warning for all Australian investors | Lendlease and Mirvac's battle for three funds is about more than $10.5 billion in assets. It's about who gets to invest the whopper retirement savings pool.
| Irish teenager Liam Fuller came to Sydney for a holiday with his dad and left with cheques from several investors, including a big one from Square Peg Capital.
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