ASX to rise, Wall Street ends mostly higher with optimism 'way too high'

The S&P 500 gained 0.2 per cent to 3,810, while the Nasdaq added 0.4 per cent to 13,129.

The US technology sector was boosted by a change of leadership at Intel, which jumped 7 per cent. The chipmaker said it would replace chief executive Bob Swan with the boss of another tech company, VMware, next month. US markets hit record highs last week as expectations of a hefty COVID-19 relief package and hopes of a rebound in corporate earnings this year eclipsed concerns over signs that the labour market recovery had stalled amid rampant COVID-19 infections.

"The market is starting to price in that there are some risks ... valuation is pretty extreme, optimism is way too high, we've got a disappointing rollout of further vaccine," said David Spika, president of GuideStone Capital Management in Dallas, Texas. "The expectation is that we'll have a significant increase in earnings and economic growth in 2021, but both are really dependent on the vaccine.

. Optimism way too high? Tesla shares are at a PE ratio of 1,600x so maybe you're right... (A price-to-earnings ratio is the share price compared to annual profits. At Tesla's current share price, it will take 1,600 years of current profits to pay for the share. Optimistic?)

ABC's nearly fully withdrawn from 44's cock-holster & 46 is open for receival , figuratively speaking of course ?. Now expect ABC follow suit with hard hitting journalism like this.

'Optimism too high' = activists say times are tough, why are shares doing so well

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