Markets on Cruise Control

Good Morning,

Markets are coasting higher with NZ/AU up ~0.5%, S&P 500 stalling near highs, NASDAQ easing off the gas, FTSE 100 bizarrely energetic, Bitcoin back above $120K, and gold still flexing; newswise, Kiwis get consular backup in Israel, health workers threaten strikes, and Trump talks National Guard while Netanyahu comments on the hostage deal; on the deal front, Sawmill teams with Roundhouse for kegged cocktails, NZ & AU sync trade standards, IBM and AMD build AI muscle, PayPal’s Honey hops into ChatGPT, and someone raised $1.1M to build a search engine for professional rabbit-hole diving.

Let’s jump in!

Before The Bell

Markets

• Global equities were broadly firm, with New Zealand and Australia both up ~0.5%, mirroring mild bullish sentiment across Asia-Pacific.

• S&P 500 held essentially flat, suggesting buyers remain cautious but unwilling to sell — classic consolidation near highs.

• NASDAQ slipped slightly, indicating some rotation out of tech after its strong run.

• FTSE 100 posted a healthy gain, continuing to outperform surprisingly strongly for a traditionally slow market, likely boosted by energy and materials exposure.

• Bitcoin pushed above $120K, reclaiming momentum — dip buyers clearly active, but the move still lacks explosive follow-through.

• Gold continues to grind higher, hovering near all-time highs, showing continued demand for safety hedges despite rising equities.

• Bond yields across NZ, AU, and US barely moved, signaling no major macro shocks and stable rate expectations heading into next week.

News Summary

Weekend

• Kiwis detained in Israel after flotilla intercepted get consular support. (RNZ)

• Te Pati Maori MP Hana-Rawhiti Maipi- Clarke named by Time as one of the world’s ‘most influential rising stars’. (Stuff)

• Health Workers set to strike over ‘real terms pay cut.’ (Stuff) 

• Deed cements Waitakere Ranges partnership. (RNZ)

• Over 1000 Pro-Palestinian protesters rally in U.K after fatal synagogue attack. (RNZ)

• Trump plans to deploy National Guard in Illinois, Governor says. (Stuff) 

• Netanyahu says he hopes to announce hostage release in the ‘coming days’. (BBC)

Deal Flow

Investments / M&A

Australia & New Zealand

• Roundhouse Kegged Cocktails partnership with Sawmill Brewery. (Stuff)

• NZ & Australia agree on new trade standards deal, eye WTO reform. (RNZ)

Key Global

• International Business Machines (IBM) & AMD announce collaboration for delivering advanced AI infrastructure. (YahooNews)

VC & Fundraising

• A new Search Engine raises $1.1M to let obsessive fans dive down internet rabbit holes. (TC)

Equity Raises

Key Global

• Kingsoft Cloud (NasdaqGS:KC): Valuation Insights After Hong Kong Follow-On Equity Offering (Wall.St)

Debt, Restructuring & Bankruptcy

• Westpac to cut interests rates to 3%. (Stuff)

• NZX struggles to keep companies on board. (RNZ)

• Harrods sets aside more than £60m for abuse compensation (BBC)

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