Global markets were higher overnight as the Nasdaq Tech Index hit a record high on the back of Alphabet’s blowout results, bolstering expectations of a robust US earnings season, while a rise in oil and metal prices boosted energy and material companies.
Alphabet (Googles parent company) shares touched a record high after the online search company’s quarterly results surpassed Wall Street estimates. Demand for tech stocks remains high with Amazon and Facebook both scheduled to report results later this week. As we have discussed, given uncertainties around trade and the levels of markets, the current round of corporate earnings announcements is as important as ever.
Stock in Focus: Treasury Wine Estates (TWE:AX)
Shares in Treasury Wine Estates jumped +5.5% yesterday, helped by some positive industry data. We have been supporters of the company for some time now as a beneficiary of an evolving Chinese palette and it has been one of our top performing ASX stocks.
The Aust...
