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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Environment

Manufacturing emissions fell 6.2% in September quarter

Manufacturing GDP was down 2.6% in the same quarter.

Staff reporters 4:00pm

Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base.

Rebecca Howard 3:45pm

Lyttelton Port result improves but CEO says it's not enough

Economy

Pros and cons of a corporate tax cut

Business groups are keen for a cut; others doubt its impact and feasibility.

Pattrick Smellie 3:00pm

Sponsored

Shining bright: Why gold matters today

The “great wealth store” remains a smart portfolio choice in 2025.

Smart

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

More Markets

Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base.

Rebecca Howard 3:45pm

Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 11:10am