US Treasuries and gold rose, while Wall Street fell, as President Donald Trump cancelled a summit with North Korea’s Kim Jong Un, underpinning concern about geopolitical uncertainty as well as trade talks between the world’s largest economies.
US Treasuries climbed while Wall Street was mixed, giving up some of its earlier declines, as Federal Reserve policy makers signalled the pace of interest rate hikes is unlikely to accelerate soon.
New Zealand shares dropped after Fonterra Cooperative Group cut its dividend forecast, weighing on the Fonterra Shareholders' Fund and A2 Milk Co. Steel & Tube Holdings plunged to a 17-year low after warning of a full-year loss.
Wall Street fell, having retreated from earlier gains, amid conflicting messages from the Trump administration about trade talks with China and doubt about the summit with North Korea.
Wall Street rallied amid optimism that the US is backing off its recent protectionist stance in an effort to resolve an international trade dispute with China.
A speech by Federal Reserve Chair Jerome Powell as well as the minutes from the latest US central bank meeting will form a key focus for investors trying to gauge how many more interest rate hikes might follow the one they’re expecting next month.
Wall Street weakened as US Treasury yields continued their ascent, while shares of Walmart fell amid concern about declining margins.
New Zealand shares rose, led by A2 Milk Co and Synlait Milk while Pushpay fell after annual earnings met its guidance, disappointing some upbeat investors.
US Treasuries dropped, as did Wall Street, as the latest retail sales data underpinned bets the Federal Reserve will hike its target interest rate at its June meeting and might have to step up the pace of interest rate increases.
Wall Street climbed amid optimism about trade talks between the US and China, while the euro rose amid signals the European Central Bank might lift interest rates sooner than anticipated.