Reserve Bank of New Zealand

Key events: Eurozone - CPI (YoY) (Apr) USA - Chicago PMI (Apr) USA - CB Consumer Confidence (Apr) Monday saw a positive close for the S&P 500, buoyed by notable performances from Tesla and Apple as the quarterly earnings season continues its momentum, just on the eve of the impending Federal Reserve meeting. The S&P 500 index edged up by 0.3%, accompanied by a 0.4% rise in the NASDAQ Composite, while the Dow Jones Industrial Average climbed by 0.4%, adding 146 points to its tally.

Key events: USA - Core PCE Price Index (MoM) (Feb) USA - Core PCE Price Index (YoY) (Feb) USA - Fed Chair Powell Speaks On Thursday, both the Dow and S&P 500 surged to new record highs, marking their strongest first-quarter performance since 2009. This upward momentum extended beyond the tech sector, driven by optimism surrounding potential rate cuts and encouraging economic data suggesting a soft landing for the economy.

Key events: UK - GDP (MoM) (Jan) USA - Crude Oil Inventories USA - 30-Year Bond Auction The S&P 500 soared to a new record high on Tuesday, as US stocks shrugged off a hotter-than-anticipated inflation report, buoyed by fresh bullish sentiment in the tech sector. The benchmark S&P 500 surged by 1.1% to reach a historic high of 5,173.97, while the tech-heavy Nasdaq Composite saw a 1.5% increase, and the blue-chip Dow Jones Industrial Average surged by 235 points, marking a 0.6% jump.

Key events: Eurozone - CPI (YoY) (Feb) USA - S&P Global US Manufacturing PMI (Feb) USA -ISM Manufacturing PMI (Feb) USA -ISM Manufacturing Prices (Feb) On Thursday, the Nasdaq achieved a record high for the first time since 2021, propelled by the ongoing artificial intelligence-driven rally and optimism stemming from an inflation report that aligns with expectations for a potential summer interest rate cut.

Key events: USA - Trade Balance (Dec) USA - Crude Oil Inventories USA - 10-Year Note Auction USA - FOMC Member Bowman Speaks The S&P 500 made a late recovery from the day's lows as it resumed its journey toward record highs, overcoming a recent setback. The rally, which broadened due to stronger corporate earnings, helped cushion the impact of weakness in tech stocks led by chip-related concerns.

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Key events: USA - PPI (MoM) (Sep) USA - FOMC Meeting Minutes On Tuesday, the Dow Jones closed with gains, primarily influenced by fresh comments from the Federal Reserve suggesting a potential pause in rate hikes next month. This development helped keep Treasury yields in check. The Dow Jones Industrial Average experienced a 0.6% increase, equivalent to a rise of 185 points, while the Nasdaq saw a 0.8% gain, and the S&P 500 climbed by 0.7%.

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Key events:   Australia - RBA Interest Rate Decision (Sep) Eurozone - ECB President Lagarde Speaks USA - Factory Orders (MoM) (Jul)   Eurozone - ECB's De Guindos Speaks In the evening hours of Monday, US stock futures exhibited a mixed trend, as the major indices were closed for the Labor Day public holiday. Dow Jones Futures and S&P 500 Futures both experienced a 0.1% decline, whereas Nasdaq 100 Futures remained flat.