MARKET OPEN: Profit taking may be the flavour of the day, US jobs data in focus

Fri, 05 Jun 2020

Weaker offshore markets may spill over into New Zealand as investors look to lock in profits after several positive days. Wall Street is set to end its four-day rally ahead of the May non-farm payrolls report, expected to show the US unemployment rate hitting 19.7 percent. Data overnight showed initial claims for state unemployment benefits fell 249,000 to a seasonally adjusted 1.877 million for the week ended May 30. Economists polled by Reuters had expected new claims to fall to 1.8 million. “Tonight’s key US non-farm payrolls data...

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