How was your weekend?
The sun was definitely shining for us, as we spent most of our time down the coast with family and friends.
We’re getting lots of vitamin D at the moment, which is important!
Global stock markets are rallying, however, be careful…
Valuations and the dispersion between fundamentals and equity prices are the largest we have seen.
So don’t be scared locking profits along the way, as prices continue to move higher.
Today, all eyes will be on ICI, FFG, ZEO, NEU while gold stocks will fall as more “certainty” is in place following Biden and US payrolls.
Australian shares are poised to open modestly higher, with Wall Street resetting records yet again on renewed hopes for more stimulus.
President-elect Joe Biden said he will detail later this week a plan calling for "trillions" in more spending to help Americans hit hard by the pandemic.
ASX futures were up 7 points or 0.1 per cent to 6704. The currency slipped 0.2 per cent.
Shares in New York ended their week higher, with Nasdaq leading the advance.
Increasingly though, there are concerns that the rally in US equities has over-reached.
In a note, Bank of America said while Main Street America is empty because of the coronavirus, Wall Street is crowded. It said its Bull & Bear Indicator had risen to 7.1, "as investors rationalise increasingly irrational price action on Wall Street".
The bank said it continues to say "sell the vaccine" on peak positioning, policy, and profits.