US shares had another very strong week, with the S&P 500 rising 2.2%. The index is up 7.6% in November and on track for its best month in more than a year. The NZX 50 in New Zealand was more subdued, although it still added 0.3% for its third consecutive weekly gain. The local market has rallied 3.9% this month, on track for its best performance since January.
Looking ahead, it will be a holiday-shortened week in the US, with markets closed for Thanksgiving on Thursday. There will also be an early close on Black Friday, the day after Thanksgiving and the unofficial start to the Christmas shopping season. The highlight of the global economic calendar will be the flash PMIs for November. Investors will be watching to see if manufacturing rebound continues, and whether the services sector weakens further.
There’s a bit happening on the corporate front too, with Oceania Healthcare, Goodman Property Trust and My Food Bag all set to announce earnings in New Zealand, while in the US artificial intelligence will be in focus when NVIDIA releases its latest result on Tuesday.
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