Weekly Market Update: What’s Moving US, NZ & Australian Markets + KiwiSaver Insights
United States Market
US equities finished the week mixed as investors weighed strong corporate earnings against ongoing uncertainty around future interest rate cuts.
Key Movers & Themes
Tech stocks held firm, supported by continued AI investment and upbeat cloud-computing results.
Consumer spending data surprised slightly to the upside, boosting confidence in a “soft landing” narrative.
Federal Reserve commentary remained cautious, signalling cuts are still data-dependent rather than guaranteed.
Overall, the S&P 500 and Nasdaq held steady, while the Dow lagged.
New Zealand Market
The NZX had a relatively quiet but positive week, supported by defensive sectors.
Key Movers & Themes
Utilities and infrastructure saw modest gains as investors favoured stable dividend-paying companies.
Consumer confidence remains soft, but not worsening, which supported retail names somewhat.
Interest rate expectations remain centred on the RBNZ holding rates steady until inflation tracks closer to target.
The NZ market continues to trade cautiously, with investors waiting for clearer local economic momentum.
Australian Market
The ASX saw broad-based strength, driven by commodities and financials.
Key Movers & Themes
Mining stocks benefited from stronger iron ore prices and a slight pickup in Chinese demand indicators.
Banks performed well as lending margins stabilised and credit quality held firm.
Energy saw support from firmer oil prices.
Australia continues to benefit from global demand for resources, helping offset domestic economic softness.
🥝 KiwiSaver Insight (Non-Advice)
Market movements across the US, NZ, and Australia can influence KiwiSaver performance depending on the fund’s exposure to shares, bonds, and overseas markets.
Growth funds may feel more of the impact from global equity swings, positive or negative as they typically hold more international shares (especially US tech).
Balanced funds may experience milder movements due to more diversification across bonds and cash.
Conservative funds are less influenced by share market volatility but can still be affected by global interest rate expectations, which impact bond pricing.
This week’s combination of steady US markets, firmer ASX performance, and modest NZ gains generally supports a stable environment for diversified KiwiSaver portfolios, though individual results vary by provider and fund mix.
(This is a general insight only, not a recommendation to change funds.)
⚠️ Disclaimer
This update is for general information only and is not financial advice. Past performance is not indicative of future performance. If you require personalised recommendations, feel free to get in touch!