• 3 months ago

• Week Ahead - Bull Market Momentum | Trustpower & Infratil

Global markets were mixed on Friday, although Wall Street was slightly higher, as the major US indices experienced a 5th straight week of gains. The bull market's upward momentum remains intact for now, helped by increasing signs that the global economy is expanding in a harmonised way, while volatility remains remarkably low.   As we touched on last week, in the US we have begun the quarterly earnings season. During earnings season investor attention usually shifts back towards company profitability. This high level of the market makes the current earnings season as important as ever (especially against the backdrop of rising interest rates which will not be supportive for valuations) and we will be watching developments closely. Closer to home the ASX had its strongest week since March last week, and the NZX made gains despite the lack of government (although most of the gains were driven by momentum across 3 stocks: Xero, A2 Milk, and Fisher & Paykel Healthcare). St...