ASX to slip, techs drag S&P 500, Nasdaq lower

News Snapshot:

The yield on the US 10-year note slipped 2 basis points to 4.27 per cent at 2.24pm in New York. Six of out 10 fund managers who responded to the latest Bank of America monthly survey say the “Fed is done” lifting rates, in contrast to nine of 10 saying in July that the “Fed is not done”). Seventy-four per cent say they expect the first Fed rate cut in the second quarter of 2023 or the second half of 2024. In a tweet, DataTrek Research said: “The S & P 500 currently trades for 18.6x Wall Street’s 12-month forward...