Wall Street rally continues on strong corporate earnings | NZ Market Updates 04 FEB

The Wall Street equity indices extended their rally to the third consecutive day on Wednesday on strong corporate earnings and better-than-expected hiring data.

• Shares of Google’s parent Alphabet closed up 7.28 per cent, while Amazon stock dipped and finally settled down 2 per cent.

• While the Dow Jones Industrial Average closed higher by 36.12 points, or 0.12 per cent, to 30,723.60, the S&P 500 advanced 3.86 points, or 0.10 per cent, to 3,830.17. The NASDAQ Composite finally closed down just 2.23 points, or 0.016 per cent, to 13,610.54. How COVID-19 impacted the food prices in NZ and 2 related stocks- BFG, CGF

• COVID-19 brought several challenges and fluctuations in the NZ Food and Beverage sector in 2020.

• NZ Companies changed their ways of promotion and marketing, sales, and pricing in order to meet the requirements of the turbulent year.

• NZX listed entities like Burger Fuel and Cooks Global have both suffered as a result of COVID-19 crisis. All Eyes on NZX listed Retail stocks – BGP, KMD, SCY

• The overall NZ retail sector remains strong despite challenges presented by Covid. Spending is approximate to pre-pandemic levels now.

• Briscoe has gone from strength to strength. Early indicators suggest 2021 will be as good as 2020 for the Group.

• Although post disappointing returns in 2020, Kathmandu is well positioned with its expanded portfolio of brands to flourish in 2021 and beyond.

• Smiths City has been revitalised by its new owners who are extremely confident in the viability of the business going forward.

 


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