What’s next for tech?
Monday Money Mate — 15 Mar 2021
Tech stocks, China industrial production and Aussie jobs data are all in the spotlight in the Grafa week ahead.
The tech sector provided a tailwind for Aussie and US markets late last week as investors piled on companies like Nearmap and Afterpay locally, and Tesla and Apple on Wall Street.
While climbing bond yields have rattled investors in the US, causing a sell-off in some sectors, including tech, Think Markets analyst Fawad Razaqzada said in a note “it is becoming clear that investors are not sure what to do with stocks at these levels”.
Some are still keen on buying equities, especially those sensitive to the economy, he said in comments reported by CNN, while others want to book profit after the past year’s remarkable rally.
Meanwhile, investing guru Mark Mobias has warned that tech stocks could be hit hard by any Bitcoin price plunge, telling Bloomberg the relationship between the two is “very close” and investors should “watch that indicator”.
Monday 13:00 AEDT
CNY Industrial Production (Feb) (YoY)
Has manufacturing ramped up in the world’s-second biggest economy?
Tuesday 11:30 AEDT
AUS House Price Index (Q4)
How much have Australia’s house prices moved in the last quarter?
Thursday 05:00 AEDT
US FOMC Statement, Interest Rates
How will the Fed Reserve committee move on US monetary policy?
Thursday 11:30 AEDT
AUS Jobs Data (Feb)
Has Australia’s unemployment rate continued to shrink?
China production; FOMC update; Aussie jobs data
China’s industrial production is in the spotlight on Monday, while we’ll get insight into Aussie housing prices on Tuesday.
The US Federal Open Market Committee releases a monetary policy update later in the week, along with its target on the Federal funds rate.
And how is Australia’s unemployment rate tracking? We’ll find out on Thursday.
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