Australian shares are set to open higher. All three US equity benchmarks rallied, with the S&P 500 led by communication services in a broad rebound. Tesla was near 5 per cent higher, a day in advance of its annual meeting and a vote on Elon Musk’s $US1.5 trillion pay package.
Worries about stretched valuation faded. “Institutional investors remain conservatively positioned, helping limit selling pressure while keeping dips well bid,” BCA Research said in a note. “A correction has been expected for weeks, and volatility indicators show no panic.”
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-wall-st-rebounds-another-buy-the-dip-rally-20251106-p5n83d