NZ sharemarket rebounds with Wall Street rally

US markets rallied on Friday night – with key indices jumping more than 3%. (Image: Getty)

Mon, 27 Jun 2022

New Zealand shares bounced on Monday, following a rebound on Wall Street over the weekend on the expectation that interest rates wouldn’t go as high as some had thought.The S&P/NZX 50 Index rose 184 points, or 1.7%, to 10,997.92. Turnover was $113.4 million.US markets rallied on Friday night – with key indices jumping more than 3% – as traders began thinking an economic slowdown would stop the US Federal Reserve from hiking interest rates.This pivot is counterintuitive, but a recession in the US economy might ultimate...

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