Need to know: Tuesday, May 13
What you need to know on Tuesday morning, May 13.
NZX50 up 9.72 points (0.19 per cent) to 5162.423
NZ dollar at US86.21 cents, A92.10c, 88.08yen, 51.09p, €62.68c
Brent crude oil at US$108.40 a barrel
Spot gold at US$1291.10 an ounce
What’s on today
Statistics New Zealand’s food price index for April will give an early indication of where inflation is heading.
ANZ’s monthly Truckometer survey measures the health of the economy using traffic data.
Stocks to watch
Freighting firms: ANZ’s latest Truckometer survey will have particular relevance for logistics businesses Freightways and Mainfreight, which are both on the NZX 50 index.
Top international news
US stocks rallied on Monday, with cyclical names driving the Dow to its second all-time high in as many sessions as the S&P 500 moved within striking distance of its own record.
The Dow Jones industrial average was up 99.98 points, or 0.60 per cent, at 16,683.32. The Standard & Poor's 500 Index was up 15.33 points, or 0.82 per cent, at 1893.81, and is 0.2 per cent from a record intraday high reached on April 4. The Nasdaq Composite Index was up 62.69 points, or 1.54 per cent, at 4134.56.
Something else for your morning
A home dinner delivery company involving Masterchef winner Nadia Lim and former Telecom chief executive Theresa Gattung is expanding into Australia, despite not turning a profit yet. Then again, neither has Xero…