Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Geopolitical tension weighs on Wall Street

Geopolitical tension weighs on Wall Street

By Tracey Warren (Sales Executive, CMC Markets Stockbroking)

Wall Street gave up gains and turned negative in the last hour of trade to close sharply lower as US Secretary of State John Kerry warned that the US would demand “accountability” after an “obscene” chemical weapons attack on civilian populations in Syria last week. After a subdued Monday trading session, markets ended firmly lower after trading in the black for most of the day.

The US Treasury last night announced it is likely to hit its debt ceiling in mid-October. Throw in Germany’s upcoming election, the mounting tensions in Syria and the lingering tapering debate, and it looks like a bumpy road for September and October.

The Australian market had a good run at the open yesterday before stalling at the high of 5,157 to trade lower into the afternoon. Reporting season continues with Macquarie Group’s credit rating reaffirmed by ratings agency Fitch, stating that Macquarie’s earnings were more volatile than other commercial banks. However, this was offset by the fact its funding liquidity was managed conservatively.

Gold has been on the rise benefiting from the flood of global liquidity and throwing in the recent geopolitical turmoil to the melting pot saw gold continue to edge higher overnight breaking above $1,400 an ounce for the first time since early June. Oil prices were mixed overnight with Brent slipping 0.1% to $106.28 a barrel, while Brent was up marginally at $111.13.

There are a plethora of earnings reports due out domestically today, with Billabong, Flight Centre, Seven Group and Whitehaven Coal some of the larger names.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>


Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>


Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing


House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

ComCom: How Real Is That Bargain?

The Commerce Commission urges retailers and consumers to think hard about the bargains being offered as ‘Black Friday’ and Christmas draw near. Black Friday has now overtaken Boxing Day in terms of retail spending, according to data from electronic ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>