The week ahead

Last week was a very strong one for global sharemarkets, as investors cheered a softer than expected US inflation report that fuelled hopes interest rates will stop rising soon and that a major recession can be avoided. Looking ahead, the local highlight will be the June quarter inflation report here in New Zealand. Due Wednesday, it is hoped this will show a further moderation in prices pressures which will help cement the view we have seen the last Official Cash Rate increase for this cycle. The interntional corporate reporting season also ramps up, with some 60 S&P 500 companies scheduled to report June quarter results. Among others, we'll hear from Bank of America, Goldman Sachs, Netflix, Tesla and Johnson & Johnson.