MARKET OPEN: Wall Street tech rally to spur enthusiasm

MARKET OPEN: Wall Street tech rally to spur enthusiasm
Rebecca Howard
The domestic market is set to shrug off recent weakness as another tech-driven rally on Wall Street spurs enthusiasm and local earnings remain in focus.  US markets were initially lower after the Labor Department said initial claims for state unemployment benefits rose to a seasonally adjusted 1.106 million for the week ended Aug. 15. Economists polled by Dow Jones Newswires expected a total of 923,000. But investors shrugged off weak US jobs data and focused on companies such as Apple, Facebook and Microsoft, all companies that have bene...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
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 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
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 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025