NZ shares rise as 'bad news is good news'

The NZX rose in tandem with the US markets today (Image: Depositphotos)

Fri, 03 Jun 2022

New Zealand's benchmark share index rose with US markets which appear to be expecting weak job data overnight that could make the Federal Reserve (Fed) think twice about aggressive rate hikes.The S&P/NZX 50 Index rose 68 points, or 0.6%, to 11,417.34. Turnover was $91. million.Yesterday, markets reacted negatively to strong US manufacturing data. Today investors reversed the decline after some weak labour market data emerged.“Good news is seen as bad news for the market and bad news is seen as good news for the market,” said...

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