Global markets were mixed overnight as investors sold off technology stocks and moved into financials that have gained on strong economic data and comments from Fed officials on future rate hikes.
As we touched on yesterday, all else equal, banks benefit from higher interest rates as lending margins improve, and de-regulation plans would be another boost for the sector going forward. Current Fed chair Janet Yellen was particularly bullish on the US economic expansion in what is widely seen as her final testimony to US lawmakers overnight, before her successor Jerome Powell takes over. This also saw the US dollar strengthen overnight.
Stock in Focus: Next DC (NXT:AX)
Data centre company Next DC has seen its share price surge to new all-time highs, and we are already experiencing impressive returns since we initiated our...
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