America is in a staggering profit boom. Australia is nowhere

It is no surprise that Wall Street’s stunning rebound over the past three weeks – the S&P 500 index is now up 12.5 per cent from its Iran war low on March 30 – has confounded many investors, who are quite reasonably waiting for the global energy shock to show up in US share prices.

The historic speed and size of the rally do reflect a very rapid change in market positioning and a wave of short covering by investors who’d bet the war would send the S&P 500 lower, but there’s a bigger story at play that Australian investors should not miss.

Source: https://www.afr.com/chanticleer/america-s-stunning-boom-is-making-the-asx-look-like-an-also-ran-20260423-p5zql7