MARKET OPEN: Wall Street rally may spur domestic enthusiasm

Tue, 04 Aug 2020

The domestic market may open higher after Wall Street rallied on merger and acquisition activity and an improving manufacturing picture. The Nasdaq was up 1.5 percent at 8am in Wellington, while the Dow Jones Industrial Average had added 0.9 percent and the S&P 500 had lifted 0.7 percent. The main M&A deal spurring enthusiasm is Microsoft’s aim to buy the US operations of Chinese-owned TikTok, “subject to a complete security review and providing proper economic benefits to the United States” after US President Donald Trump backed down o...

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