The Australian sharemarket rose, led by mining stocks amid China’s stimulus, while US equities rallied following Microsoft’s record high and anticipation of Nvidia’s earnings.
The Nasdaq hedge is unlikely to work over the short-term as the thesis of the rate hiking cycle being finished, combined with the 70% occurrence of a “Christmas Rally”
Equities closed higher overnight ahead of the release of minutes from the Federal Reserve’s September meeting and earnings from Nvidia that will likely set the tone for big tech in a holiday-shortened week.
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