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Chorus (OTCMKTS:CHRYY) has been upgraded by UBS Group from a "strong sell" to a "hold" rating. The stock rose 7% to $26.84, with a 52-week range of $19.95 to $28.24. Chorus provides fixed line communications infrastructure services in New Zealand, including phone and broadband services.
The U.S. health system ranks last among 10 wealthy nations in health equity, access, and outcomes, despite spending over 16% of its GDP on healthcare. Life expectancy is more than four years below the average, with the highest rates of preventable deaths, driven by issues like substance abuse and gun violence. To improve, the U.S. must enhance primary care, reduce administrative inefficiencies, and address systemic racism in healthcare.
US stock markets hit record highs following the Federal Reserve's support for a significant interest rate cut, while optimism in Australia surged due to China's fiscal policy measures. Key economic indicators showed mixed results, with rising jobless claims and fluctuating inflation rates. Upcoming data releases include employment figures in Australia and retail sales in the US.
The Reserve Bank of New Zealand (RBNZ) has unexpectedly cut its official cash rate by 50 basis points to 4.75%, sending the New Zealand dollar to a seven-week low. This decision follows a previous 25 bp cut in August and reflects the Committee's confidence in controlling inflation within the target band.The RBNZ's dovish forward guidance suggests further rate cuts may occur, with the market pricing in an additional 40 bps for the next meeting. The NZD/USD has fallen over 4% this month, influenced by geopolitical tensions and a strong US jobs report, with critical support at the 200-day moving average of 0.6098.
US share markets faced pressure from escalating Middle East tensions and anticipation of the September payrolls report, while the ASX 200 reached a record high before declining. Key economic indicators showed mixed results, with stronger job openings and a rise in crude oil prices, while inflation in the euro area eased and China's manufacturing PMI fell. Upcoming key dates include the RBA meeting minutes and US inflation data, as markets brace for potential shifts in monetary policy.
New Zealand's government faces potential backlash for reversing a ban on offshore fossil fuel exploration, as civil servants warn it could harm the country's climate reputation and anger Pacific nations. The move risks legal challenges related to international climate obligations and could contradict commitments made at COP28. Critics, including Pacific leaders, emphasize the importance of maintaining a strong stance against fossil fuels to ensure regional safety and security amid climate threats.
NZL
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Chorus stock upgraded to hold as shares rise 7 percent
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us health system ranks last in equity access and outcomes among wealthy nations
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