Local shares are set to fall further behind their US counterparts this week as traders ramp up bets the Reserve Bank of Australia will lift interest rates next year, while Wall Street cheers further easing by the Federal Reserve.
Futures indicate the S&P/ASX 200 will open 0.2 per cent lower on Monday, extending its 5.3 per cent pullback from October’s record high. That’s despite the S&P 500 rising 0.2 per cent on Friday, which took the US benchmark within a whisker of its all-time high. The ASX is up just 5.8 per cent this year, while the S&P 500 has rallied 16.8 per cent.
Loading…