The latest surge in the Australian sharemarket above the 8800 level for the first time is being fuelled by a far rosier outlook for US corporate earnings and ignores the growing risk that profits from ASX-listed companies will slow for a fourth year.
That’s the warning from MST Marquee, which has told clients that the corporate tax changes in US President Donald Trump’s Big Beautiful Bill had driven profit upgrades on Wall Street, alongside a weaker greenback and investment in artificial intelligence.
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