EPS 118 | The week ahead

Global sharemarkets rebounded strongly last week, with investors encouraged by softer economic indicators and evidence of easing labour markets that could mean interest rates are close to a peak. The S&P 500 in the US surged 5.9%, its best weekly performance in a year, while the NZX 50 here in New Zealand posted the best weekly gain in 16 months with a rise of 3.3%. This week markets will be listening closely to comments from Fed Chair Jerome Powell and watching the Reserve Bank of Australia to see if interest rates rise further across the Tasman. The international earnings season will continue, while a number of domestic companies will be holding annual meetings and market heavyweight Mainfreight will report its interim result.