Tentative Wall Street rally may lift local sentiment

Fri, 20 Mar 2020

A rally on Wall Street may bolster sentiment on the local market today as policy makers across the globe take steps to mitigate the impact of covid-19.The Dow Jones Industrial Average was up 1.1 percent at 8am in Wellington, while the Nasdaq was up 3.7 percent and the S&P 500 was up 1.3 percent.The kiwi dollar was also faring better, trading at 57.32 US cents versus 55.36 cents at 5pm yesterday.Markets were in a “tentative 'buy something' mode” overnight and are “mildly positive but choppy,” said Kiwibank FX trader Mike Shirley.Central bank...

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