ASX 200 to rise, Dow Jones closes above 40,000 level for first time, Where investors are piling cash into
Get up to date on overnight market activity and the big events for the day.
ASX 200 futures are up 35 points, or +0.44% as of 8:15am AEST.
It's set to be a quiet start to the week but you wouldn't know that looking at the price action. The Dow Jones Industrial Average closed above 40,000 for the first time ever last Friday - and sealed a five-week winning streak in the process. In fact, all time highs seem to be the norm for global equity markets over the last few years. Of the 20 largest stock markets in the world, 14 of them are at or near all-time highs.
It's not just stocks that people are piling into either. Corporate earnings are growing at their second-strongest quarterly pace in two years, leading the biggest investors to pile into corporate bonds.
But it's not a bubble, is it?
Let's dive in.
S&P 500 Session Chart
OVERNIGHT MARKETS
Dow closes at record high above 40,000 to cinch a five-week winning streak
European markets close slightly lower after snapping nine-day winning streak
Treasury yields rise as investors weigh state of the economy
Oil posts weekly gain on hopes of firmer demand
China stimulus, U.S. rate cut bets lift gold, silver soars above $30 mark
14 of the world's 20 largest equity markets have hit recent record highs
Bond investors piling into high-grade corporates as potential Fed rate cuts edge closer
Microsoft expected to showcase its AI projects at this week's Build developers' conference
Amazon closing in on a deal to stream regular-season and playoff NBA games
Corporate earnings seeing healthy growth, second-best pace over the past two years
Soaring debt and deficits causing worry about threats to the economy and markets
Federal debt is generating elevated levels of worry for Wall Street
Executives in the consumer space warn of shoppers delaying big-ticket purchases
Key Events
Trading ex-dividend this week:
Amcor (AMC) - 21 May - $0.193
Aneka Tambang (ATM) - 21 May -$0.048
Orica Ltd (ORI) - 23 May - $0.19
Aristocrat (ALL) - 23 May - $0.36
Whitefield (WHF) - 24 May -$0.102
This Morning Wrap was written by Hans Lee and Chris Conway.
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Livewire and Market Index's pre-opening bell news and analysis wrap. Available weekday mornings and written by Kerry Sun.
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Livewire and Market Index's pre-opening bell news and analysis wrap. Available weekday mornings and written by Kerry Sun.
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Livewire and Market Index's pre-opening bell news and analysis wrap. Available weekday mornings and written by Kerry Sun.
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