NZX Market Report 27.6.25
The recovery phase gathered momentum on financial markets today. The NZX50 gained 103.54 to reach 12,583.59, a gain of +0.83%. In Australia, however, the ASX All Ords shed 30 at 8743.60. There were only two falls of any size, Westpac losing 48c at $36.72 and ANZ Bank down 27c at $31.64. Mainfreight moved up 37c to %$67.37 and F & P Healthcare up by 17c to $36.57. Gentrack gained 25c to $12.40 and Infratil rose 30c to $11.70. AFT Pharma added 14c to $2.70, a gain of +5.5%. South Port...
US stockmarkets surge on Iran ceasefire
US stocks surged on Tuesday while oil prices fell heavily again as investors took the view that the ceasefire between Israel and Iran will be an enduring one, comments Greg Smith at Devon Funds. “After being frustrated by some initial breaches, and also while dropping an “F-bomb,” Donald Trump proclaimed the ceasefire was still in effect. “The President will be even less enamoured with Jerome Powell who signalled to policymakers on Capitol Hill that the central bank was in no rush to cut...
NZX Market Report 25.6.25
The NZ sharemarket continued to flow sluggishly today with the NZX50 index down 6.52 points at 12,460.96 – while US markets scorched upwards. The NZ market did carry several stocks upwards but a further fall for Auckland Airport, -9c to $7.58, and a 16c fall for Infratil to $10.25 did help the session. Fletcher Building fell a further 6c at $2.91 after its significant items setback in a market update earlier this week. Briscoe lost 15c to $5.50. However, Freightways continued its upwards...
Shares rally and oil price retreats
24.6.25 Equity markets have risen sharply and oil prices have plunged following the pull-back on the part of the Iranian government, having delivered a retaliatory attack on US bases in Qatar. The US President Donald Trump declared a "complete and total" ceasefire between Israel and Iran will soon go into force. "On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to...
Technology launches in the limelight
US markets pushed higher on Tuesday, with technology companies in the forefront with new products being aired The Dow Jones rose 0.25%, while the S&P500 and Nasdaq both jumped 0.6%. Intel soared 8% and Tesla rebounded a further 6%. Trade talks between the US and China are continuing into their second day in London, notes Greg Smith at Devon Funds. "Treasury Secretary Steve Bessent has been involved in the discussions, and may have another big job to do next year. "There are reports he is...
UK takeover brightens Wall Street
10.6.25 Semiconductor firms rallied on Wall Street overnight as Qualcomm announced it is acquiring London listed Alphawave for US$2.4 billion. The Dow was flat, down 1.14 points at 42,76.76. The S&P500 edged higher on Monday by 0.1%, to 6005.58. while the Nasdaq gained 0.3% at 19,591.24 (+61.24). Tesla rebounded a further 4.6%. At Devon Funds this morning, Greg Smith commented, “London is also the focus for investors generally, with the US and China holding trade talks in the UK capital....
US markets buoyed by jobs data
9.6.25 US equity markets made solid gains Friday supported by labour market data and further signs of easing US-China trade tensions. BNZ Markets notes this morning that the S&P closed 1% higher and reached the psychological 6,000 level for the first time since February, as steady employment growth helped ease concerns about an imminent slowdown. “In Europe, the Euro Stoxx index made modest gains. Treasury yields closed higher, and the US dollar gained against G10 currencies. Brent crude...
NZX Market Report 4.6.25
Markets were uniformly in buoyant shape today, the local NZX market experiencing good gains by a number of leading stocks. The NZX50 closed 167.48 points higher at 12,470.84. Vulcan Steel surged 44c or +6.4% higher to trade at $7.31, while Mainfreight drive 50c upwards to $68.46, and F&P Healthcare added 47c at $37.06. Auckland Airport was ahead by 22c to $7.72, Chorus gained 15.5c to $8.375, a2 Milk put on 33c at $8.73, (+3.93%) and Gentrack jumped 34c to $12.30. Energy stocks were...
Wall Street rally sustained
The tariff relief rally has been sustained into another day as the Trump trade tour of the Middle East continues. The S&P500 rose for a fourth day, to 591693, up 24 points, continuing the rally that has occurred in the wake of the US/China trade truce. The Dow Jones moved 271 points higher to 42,322.75 and the Nasdaq gained 16.25 at 21,416.50. At Devon Funds, Greg Smith commented, “Sentiment was also boosted by US retail sales edging up last month, and a much lower-than-expected...
NZX Market Report 15.5.25
The tariff relief rally – as is now known – has extended into a third day in tthe United States and carrying with it the Nasdaq market. The tech stock barometer rose 136 points at 19,146.81, while the Dow Jones Industrial of the top 30 stocks on the NYSE dropped 89 AT 42,051. The S&P 500 nosed 6 points higher at 5892. The NZX50 reflected a local market that has become tired of the gyrations of the US market in reaction to whatever direction US trade policy is trending on any particular...
NZX Market Report 14.5.25
The investment rally of yesterday began to fade overnight – with the exception of US stocks – and the NZX50 ended today’s trading off a touch at -0.06% or 12,779.26 – a fall of 7.48 points. EBOS was the steadying influence and rose 56c to $39.55 and Freightways picked up a further 19c at $10.79. Skellerup continued to rebuild with an 11c gain to $4.85 And Gentrack was up 10c at $12.32, as was Ventia at $5.15. Mainfreight back-pedalled 30c to $68.50 after a stout run higher in recent days,...
US markets roar upwards on US-China trade progress
US stockmarkets have roared higher following the agreement between the US and China to a 90-day pause on reciprocal tariffs and lowered baseline tariffs. The Trump administration last month set tariffs on Chinese imports as high as 145% and China responded with reciprocal tariffs as high as 125% on some US imports. The latest moves emerged from a meeting of US Treasury Secretary Scott Bessent and Chinese emissaries in Geneva. Some sardonic comment included a reference to ‘adults being in the...
US markets end a bullish week
7.5.25 American stock markets are showing some fragility in the face of uncertainty over tariffs, a mixed report season and the trend of interest rates. Overnight investors have trekked out of the key equity markets and safe havens are in demand. The Dow Jones closed the session at 40,829.10, down 389.83 or -0.45%. NASDAQ eased by 154 points at 17,689.68 and the S & P 500 was down 43.47 at 5,606.91. Gold shot US$116.10 higher to US$3,438.40 an oz. However the VIX volatility index rose but...
NZX Market Report 1.5.25
The NZ sharemarket bounced 245 points higher today setting the NZX50 at 12,148.64, with major stocks leading the mini-rally. In the US, the markets were mixed after a day when Trump hinted that tariffs could be risky, and after the US clinched a difficult and protracted ‘deal’ to buy Ukrainian rare earth metals. Nasdaq lost 14.98 at 17,446.34, the S & P 500 edged 8.23 up to 5569 and 10 year Treasuries slipped to 4.18%. Gold eased a further US$78.20 / oz today at US$3240.90/oz; oil fell to...
NZX Market Report 24.4.25
New Zealand’s sharemarket took its lead from Wall Street today, after the US markets rallied in response to signs of a softening of US trade policy. President Donald Trump said the 145% tariffs proposed on Chinese imports would likely be reduced once deals were done. China dismissed the suggestions of any trade deal in the offing but US markets surged regardless. The Dow add +1.07% or 419.59 at 39,606.57, Nasdaq gained 407 points at 16,708 and the S & P 500 rose 88 points to 5375.86. IN...
NZX Market Report 23.4.25
Another day in the 2nd term of Donald Trump and another policy wind-back brought a market rout to a halt. The ‘like-loathe’ relationship between the White House and Wall Street continued again in the past 24 hours as President Trump lightened his mood and indicated that the US would be setting lower tariffs on Chinese good than were rolled out on April 2. He also backed off his verbal undercut of Federal Reserve chairman Jerome Powell. Trump saying that he wasn’t going to fire the Fed...
NZX Market Report 22.4.25
The bells were tolling today for Pope Francis – and the financial markets as the week beyond Easter opened with increased worry about what the near future will bring. The uncertainty stirred by on –-off – and on again economic policy from the Trump-led Republican government in the US has rattled investors. The last straw – and a straight out test of not buckling in the face of bullying - was the weekend verbal assault by the White House on Federal Reserve chairman Jerome Powell. Powell...
US industrial market lower
18.4.25 One of President Donald Trump’s dawn social media missives has again rattled Wall Street markets. This time the target is Federal Reserve chairman Jerome Powell in response to the Fed head expressing concern about the potential for US tariffs to unleash a fresh round of inflation. Trump has retaliated with a call for Powell to be ‘terminated’ and is exerting pressure on him to resign ‘if asked.’ The market saw this as a line crossed in terms of executive power. The Dow Jones fell 527...
NZX Market Report 17.4.25
The New Zealand market had a solid session on Thursday to close off the shortened Easter week. The NZX50 index gained 51.07 or +0.42% to reach 12,111.99. In Australian the ASX All Ords finish 160.20 points up at 8021.90, ignoring a depressing day on Wall Street. The mounting concern over tariffs slowing global trade, tourist shunning American holidays, and freight falling off spilled over onto markets. Tech stocks had a dreadful day as investors began taking value off the table, with US...
NZX Market Report 16.4.25
Assisted by several heavyweight stocks moving higher the NZX market rose 56 points today to attain 12,067.92 o the NZX50 index. In Australia the All Ords index closed down 8.20 at 7,961.70. The US market was weaker overnight with the Dow Jones off 155.84 at 40,368.96 and Nasdaq down 8.32 at 16,823.13. Gold traded US$65.50 higher at US$3,305.90 an ounce. Oil was at US$60.50 WTI. The VIX was at 301.2, well down on a week ago EBOS began a retail share offer today, with the market price...
Tariff outlook clouds US results
16.4.25 Boeing aside, earnings releases dominated the headlines n US markets overnight. Devon Funds Greg Smith notes that Bank of America jumped 3.6% as quarterly earnings jumped 11% to US$7.4 billion and revenues rose 5.9% to US$27.51 billion. Net interest income fuelled the gains, with lower deposit costs and higher-yielding investments compared with the year-earlier period. T "he Bank’s CEO said “Consumers have shown resilience” but “we potentially face a changing economy in the future.”...
Markets look unusually normal -what’s wrong?
16.4.25 A pattern is emerging of heat on-heat off by the White House in the great tariff game currently underway in global trade. ASB senior economist Chris Tennant-Brown commented, “On Friday night, the US President Trump threw out a lifeline for tech stocks – especially Apple - exempting many popular consumer electronics products from the crimpling tariffs he’d ratcheted up on China over the past week. “That includes iPhones, iPads, Macs, Apple Watches and AirTags. The tariff on goods...
Has the US blinked first?
While China raised its tariffs on US imports into the country to 125%, optimism is growing that a deal between the two super powers is at hand, says Devon Funds. Greg Smith notes in a wrap of the market activity up until the weekend, that late on Friday the US extended another “olive branch,” exempting smartphones, computers, computer processors, memory chips, and other electronics from reciprocal tariffs. “The US appears to have blinked first in the game of “tariff chicken run.” “China’s...
American markets roar back
The American stockmarkets came roaring back with a relief rally overnight that has carried over into a general relief uplift on global markets – including that of the NZX – after President Trump dramatically paused reciprocal tariffs for a month. The S & P 500 jumped 4764.13 or +9.52% to 5456.90 The Dow Jones powered 2,962.86 points higher to 40,608.45, up +7.87%, in an historic lift-off. The Nasdaq 100 market bounced 12% to its second best session to reach 19,145 and the Nasdaq Composite...
US market slowly stabilising
The market rout that have ravaged investment valuations since the Trump tariffs were levelled at world trade over the weekend may be cooling off. Maybe … The US financial markets have experienced a further tense trading day, but the rate of descent has slowed on Wall Street. The S & P 500 closed this morning at 5,062.25, down 11.83 points or -0,23%. The Dow Jones industrial Average closed 349.26 points lower, -0.91%, at 37,965.60. Roll all the way back 4 months and the market was in a...
Equities slide in significant retreat
The New Zealand sharemarket fell sharply today when markets in Australasia and Asia opened for the new trading week – following the 5.50% slide by the Dow Jones at the weekend For the first couple of days after the White House announcement of a baseline US tariff of 10% plus customised reciprocal tariffs on specific countries, economist thought New Zealand would emerge better than most. Most economic analysis has also considered the floating exchange rate for the NZ dollar would provide a...
NZX Market Report 4.4.25
The market had a fairly disappointing Friday session after the US markets were so volatile overnight in initial reaction to the worldwide tariffs imposed by the Trump administration. AS we reported this morning there was widespread selling in a US$900bn wipeout across American equity markets. The Dow Jones dropped 1,679.39 to 40,545.93, a fall of -3.98%. NASDAQ toppled 1,050 points to 16,560. The NZX50 shed 113.29 points, -0.97% at 12,225.28 and in Australia the ASX All Ords was pushed 205...
The damage toll overnight
4.4.25 The major financial markets of Wall Street fell off a cliff overnight, plummeting share prices across industrials, technology, big caps to small caps, in a massive thumbs down on President Donald Trump’s historic jack-up of tariffs on all goods imported into America. Some of the US trade unions that have bought into his romantic notions of rebuilding the rust-belt once powerful manufacturing states, praised the move. The universal imposition of tariffs on 185 nations has sent markets...
Markets uneasy over tariff risk
1.4.27 The new week has begun in the same fashion as last week ended, with weaker risk appetite as investors count down the days to Liberation Day, now just two sleeps away, said BNZ Markets this morning. “Global equity markets are weaker, and commodity currencies have underperformed, seeing the NZD tumble below 0.57,” said Jason Wong, senior market strategist. “There is much anticipation about what Trump will announce on “Liberation Day, where he outlines the plan for reciprocal tariffs, on...
Sell-off in US ahead of “Liberation Day’
'This market is getting unbearable!" 31.3.25 US indices sold off on Friday amid ongoing concern over how US trade policies are evolving and the impact to the economy. Consumers are already forming an opinion, says Greg Smiuth at Devon Funds. “A print from the University of Michigan showed sentiment was at the lowest since November 2002, while long-run inflation expectations are the highest since 1993. Inflation in the here and now is already ticking higher. The Personal Consumption...
