NZ sharemarket adrift and directionless

In another topsy-turvy day, the S&P/NZX 50 Index had a late surge and closed at 11,187.52.5, up 17.72 points or 0.16%, following an intraday low of 11,133.8.

There were 69 gainers and 60 decliners on the main board, with 25.36 million shares worth $88.74m changing hands.

In the United States, the major indices resumed their climb, with the Dow Jones Industrial Average up 0.53% to 35,273.03 points; the S&P 500 gained 0.41% to 4556.62; and the Nasdaq Composite increasing 0.46% to 14,265.86 on the day before the Thanksgiving holiday.

The Nasdaq has rallied 11% in November, the Dow Jones nearly 7%, and the S&P 500 is up more than 8% as bond yields have fallen and optimism that the Federal Reserve will maintain a hold on interest rates.