NZ Stocks Unchanged Amid Rising Oil Prices and Fed Rate Cut Doubts

New Zealand's stock market remained nearly flat on Tuesday morning, trading around 13,890, as gains in certain sectors offset declines in others.

The technology, utilities, and materials sectors saw gains, while healthcare, energy, and consumer discretionary sectors declined. Rising oil prices raised doubts about the Federal Reserve cutting interest rates this year.

Market participants are awaiting the release of US inflation data later this week for clues on the Fed's monetary policy at its upcoming meeting.

Rising oil prices also cast uncertainty over the Reserve Bank of New Zealand's (RBNZ) monetary policy decision at its September meeting, with concerns about the Strait of Hormuz reopening affecting global markets.