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Keeping you up to date with the latest market moves, in association with Investment firm Jarden
The major US indices bounced back from their previous underperformance, at the time of writing. The S&P 500 was up 1.1 per cent, the Nasdaq increased 1.0 per cent and the Dow Jones also rose 1.1 per cent.
The best performers were technology (+2.6 per cent), materials (+2.3 per cent) and energy (+2.0 per cent).
Enphase Energy led the pack, up 8.4 per cent at the time of writing. This followed earnings and revenue results above expectations and their "tripling down on spending in Europe".
Visa (+8.0 per cent), Microsoft (+6.6 per cent) and Mastercard (+6.0 per cent) all find themselves in the top five performers after posting first quarter results above analysts' expectations.
Multi-cloud security company F5 Inc had the worst performance at the time of writing, down 13.2 per cent. This was driven by them lowering predicted revenue growth alongside a warning of future supply constraints.
The next company in the red was airplane manufacturer Boeing with a drop of 8.9 per cent. This follows first quarter sales and revenue being below analysts' expectations while also pushing back production of their new 777X plane.
Human resource consulting company Robert Half International rounds out the bottom three performers after dropping 6.6 percent at the time of writing. This is despite first quarter results slightly beating market expectations.
Asian markets were mixed again with the Shanghai Composite increasing 2.5 per cent, the Nikkei down 1.2 per cent and the Hang Seng remaining flat, up 0.1 per cent.
European markets were all in the green with the FTSE, the DAX and the CAC up 0.5, 0.3 and 0.5 per cent, respectively.
The Japanese Yen continues to weaken with the JPY/USD now down to 0.0078. This is 15% down from the same time last year.
Cryptocurrencies had a slight bounce back at the time of writing, up 1.0 per cent. Bitcoin and Ethereum increased 2.7 and 1.2 per cent, respectively.
Gold fell back under US$1900 an ounce, to US$1891. This represents a 0.7 per cent decline.
WTI Crude Oil and natural gas continued to climb, up 0.6 and 6.1 per cent, respectively.
The U.S. 10-Year Treasury rate rose two basis points to 2.797 per cent.
The NZX 50 continued its downward trend yesterday, declining 0.7 per cent to 11,726.4 points.
Although the market recovered late, the index reached a 19-month low which saw most companies close at a lower level than the previous session.
Contact Energy was the best performing company, rising 2.6 per cent yesterday. Retailer KMD Brands (formerly known as Kathmandu Holdings) also improved 1.5 per cent. Closing out yesterday's top movers was infrastructure investment company Infratil, increasing 1.5 per cent. These movements do not appear to correlate to any news.
Leading the decliners was Fletcher Building, dropping 4.0 per cent. This follows the company providing notice of an on-market share buyback.
After Tuesday's top performance, gaining 24.3 per cent, payment service provider Pushpay Holdings was in the red, decreasing 3.1 per cent. Rounding out the bottom movers was real estate investment trust company Goodman Property, down 3.0 per cent yesterday and -12.4 per cent year to date.
The ASX 200 declined 0.8 per cent yesterday with the index having lost 4.1 per cent over the past five days.
Sector performance was mixed with seven of 11 sectors closing in the red. Energy rose 1.0 per cent and utilities were up 0.6 per cent. On the other hand, information technology dropped 2.4 per cent, consumer staples lost 1.9 per cent and financials declined 1.6 per cent.
Miner Whitehaven Coal was the best performer of the day, rising 5.5 per cent after announcing it had bought back a further 1,364,941 shares the previous day. This takes the total shares bought through the on-market buy-back to more than 18 million so far.
Downer EDI was up 4.7 per cent after releasing its Investor Day presentation. The integrated services company is expecting a strong fourth quarter along with a strong rebound in earnings in FY23.
Iron ore mining company Champion Iron rounded out the top performers with an increase of 3.4 per cent.
Conversely, location services provider Life360 plunged 29.4 per cent despite announcing quarterly consolidated revenue growth of 129 per cent to US$52.7 million in its March 2022 Quarterly Activities Report. Debt buyer Credit Corp Group was down 9.5 per cent and online bookmaker PointsBet Holdings declined 8.6 per cent yesterday.
The Australian Bureau of Statistics announced that the Consumer Price Index (CPI) increased 2.1 per cent in the March 2022 quarter and 5.1 per cent annually. The most significant contributors to the increase were new dwellings (+5.7 per cent) and automotive fuel (+11.0 per cent).
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