Global markets were higher overnight as Wall Street indexes hit record levels, with technology stocks continuing to lead the charge while healthcare shares also received a boost. The S&P 500 market index (the largest 500 companies listed in the US) hit a new record high of 2600 for the first time.
We note that the Tech sector has been in the leadership position for some time and Tech stocks have produced remarkable earnings growth, with the sector also standing to benefit from expected tax reforms.
Closer to home, the ASX experienced gains yesterday which were quite broad based. On the NZX the market was more of a mixed bag, with a big move higher in A2 Milk (+5.3%) following a positively received AGM where the company said both revenue and net profit jumped in the first four months of the current financial year. On the flipside...
Stock Markets, Simplified.