Technology stocks led market declines after an unexpected rise in jobless claims , with tech partially reversing recent gains even as Microsoft and Tesla released solid quarterly earnings figures.
Global markets were higher overnight with the Nasdaq technology index hitting an all-time high as the run of positive economic data continues, offsetting concerns of a second wave of covid-19.
While global markets snapped back sharply last week on profit-taking, NZ and Australasian markets did not sell-off as hard. We continue to believe Australasia provides a relative safe-haven, primarily given how well both countries have controlled covid-19
Markets were lower Thursday as concern the recent rally had gone too far overshadowed new stimulus measures and encouraging economic data. CSL shares have held up extremely well early in the covid-19 sell-off, but have underperformed over the last month.
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