News

Looking ahead, the US corporate earnings season kicks off properly this week with the major US banks reporting quarterly profits.

Contact shares look attractive, trading on undemanding multiples with a healthy and growing gross dividend yield of 6.5%

JP Morgan’s CEO projected strong growth for the US economy into 2023 with help from Biden’s $2.25 trillion infrastructure bill.

Global markets were higher overnight with the US S&P 500 (+0.4%) and European Stoxx 600 (+0.6%) higher driven by technology and growth stocks.

Global markets rallied overnight (S&P 500 index +1.4%) as strong economic data has pushed US markets to new record highs.

Global markets were mixed overnight (S&P 500 index -0.1%) with the US market a touch lower, consolidating near record highs as investors weighed more strong US economic data against nervousness around the upcoming quarterly earnings season.

NZ Dollar weakness continues (with the NZD currently trading at 69.5 cents versus the USD) as RBNZ rate hike bets get eased post the Government housing policy that was announced Tuesday.

Global markets rebounded on Friday (S&P 500 index +1.7%) as Wall Street rallied into the close with technology, healthcare and financial stocks providing the biggest boost.

Investors evaluated the level of ripple effect from a forced block trade for financial markets, with bank shares falling sharply amid warnings of potential losses from a hedge fund’s default on margin calls.