Global markets were generally higher overnight, although the US Tech sector lagged the broader market.
Gains were led by financial and industrial stocks as marquee companies such as banking giant Morgan Stanley posted strong results and bolstered expectations of a solid second quarter. Once again, another strong round of US profit announcements is a key reason to remain bullish on markets and we are watching developments closely
Federal Reserve Chairman Jerome Powell's official line on US trade policy is one of respect to the Trump administration, acknowledging it is outside the Fed's responsibility and that it might all turn out for the best. Overnight however Powell touched on the fact that rising protectionism is creating uncertainty for the economy.
Stock in Focus: Z Energy (ZEL:NZ / ZEL:AX)
The weakest stock on the NZ market yesterday was Z Energy as the country’s biggest fuel retailer cut full-year earnings guidance by $30 million due to an extended...
