Morning Wrap: ASX 200 to fall, S&P 500 and Nasdaq edge out another record high
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ASX 200 futures are down 60pts (-0.69%) as of 8:30 am AEST. The S&P 500 and Nasdaq reached record highs, despite negative market breadth. Major US indices showed mixed results, with the S&P 500 gaining slightly. Oppenheimer raised the S&P 500 year-end target to 7,100, anticipating strong earnings. Tesla signed a $16.5bn chip deal with Samsung, while the Fed is expected to hold rates steady amid pressure for cuts. The US and EU struck a trade deal, averting a larger trade war, while China introduced childcare subsidies to combat falling birthrates.
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