NZX 50 Rebounds as Wall Street Rally Boosts Market

New Zealand's stock market started the week on a positive note, with the NZX 50 index rising by 34 points or 0.2% to 13,858 in Monday morning trade.

This comes after two consecutive sessions of losses, but the upward trend is being attributed to a rise on Wall Street last Friday following softer-than-expected labor data that dampened expectations of a Fed rate hike at their September meeting.

The positive trade data from China, New Zealand's top trading partner, also contributed to the market's boost, with export growth remaining robust and inflation easing to a six-month low.

However, traders are still keeping an eye on US inflation data this week for clues about the Fed's monetary policy at their upcoming meeting, as well as developments in the Strait of Hormuz.