The week ahead

Last week was another strong one for US shares, with the S&P 500 rising 1.8% to its highest level since August 2022. Investors celebrated a resolution to the debt ceiling debate, as well as evidence of slowing inflation and an easing labour market. The S&P 500 has rallied 11.5% in 2023, or 17.0% in New Zealand dollar terms! Looking ahead, it will be a holiday-shortened week here in Aotearoa, with markets closed for the King’s Birthday public holiday on Monday. There’s more happening in Australia, with the Reserve Bank of Australia’s interest rate decision on Tuesday afternoon set to take centre stage.