News

The Australian cabinet has approved a comprehensive set of health protocols to enable a safe reopening of their economy with most businesses expected to be up and running by July 2020, with an aim to lift restrictions in three steps.

With the number new covid-19 remaining low (both in New Zealand and Australia) there are talks of a potential trans-tasman bubble, allowing the two economies to open up to each other sooner than anticipated.

Global markets fell on Friday, with the S&P 500 down -2.8% as Amazon declined -7.6%, giving back some of its amazing gains after announcing its quarterly result.  

Weak economic data overnight included a larger-than-expected jump in US unemployment claims (3.8 million for the week), taking the total to over 30 million people since the US covid-19 lockdown began. 

Tech stocks Microsoft, Facebook and Alphabet have released better than expected results and the tech sector rallied. On the flipside, Chesapeake Energy has been forced into Bankruptcy as the US oil and gas exploration and production company struggles with

Policy makers need to be wary of opening economies in a restrictive and safer manner. 

​For the week ahead, investors gear up for one of the busiest weeks of quarterly earnings reports, including from tech titans Apple and Microsoft.

Spark (SPK) shares were the best performing NZ stock yesterday up +4.7%, with the broader market selling off.

Gilead’s potential Covid-19 treatment has flopped in China on its first clinical trial, which initially had ignited some positive sentiment around a vaccine coming to the market sooner than anticipated.