Investors stick to sidelines ahead of ‘colossal’ Fed meeting

Investors stick to sidelines ahead of ‘colossal’ Fed meeting
Jerome Powell, chair of the US Federal Reserve. (Image: Getty)
Dan Brunskill
NZ’s benchmark equity index finished Wednesday virtually unchanged with investors unwilling to make moves before the US Federal Reserve meeting tomorrow.The S&P/NZX 50 Index fell just 7 points (0.01%) to 11,675.21. Turnover was unusually light at $85.6 million.Stephen Innes, a managing partner at SPI Asset Management, said financial markets were in a “holding pattern” ahead of the “colossal” Fed meeting.Investors generally expect a 50 basis points (bps) hike and some quantitative tightening to go ahead wit...

More Markets

NZ sharemarket rises with gentailers leading
Markets Market close

NZ sharemarket rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 09 May 2025
Steven Joyce to chair NZME
Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on. 

Staff reporters 09 May 2025
NZME set to take on Trade Me for car sales
Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 09 May 2025
Bremworth getting back into synthetics
Primary Sector

Bremworth getting back into synthetics

Albeit in a small, but carefully curated, number of products.

Riley Kennedy 09 May 2025