MARKET OPEN: Positive night on Wall Street could cheer local investors

Fri, 08 May 2020

A positive night on Wall Street after some upbeat earnings reports may set the tone for Friday’s trading in New Zealand. Investor sentiment improved when PayPal Holdings reported first-quarter revenue growth of 12 percent and said “accelerating April business trends” were driving a strong outlook for the second quarter. The stock lifted 13.9 percent, helping push the Nasdaq up 1.3 percent at 8am in Wellington. According to Reuters, the Nasdaq turned positive for 2020 during the session, after being down well over 20 percent for the year...

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