MARKET OPEN: Better mood on Wall Street may buoy local market

Tue, 07 Jul 2020

Positive US data coupled with growing optimism that China is on the road to recovery will likely give risk appetite a boost today. In the US, the Institute of Supply Management’s non-manufacturing activity index jumped to 57.1 in June, almost returning to pre-pandemic levels. Any reading above 50 points denotes expansion and services account for about two-thirds of the US economy. The Dow Jones Industrial Average was up 1.7 percent at 8am in Wellington while the S&P 500 had lifted 1.6 percent and the Nasdaq had gained 2.2 percent. Amaz...

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