New Zealand's benchmark S&P/NZX 50 index closed 0.3% higher at 12,903 on Thursday, ending a two-day losing streak and tracking Wall Street’s overnight gains. Market sentiment was further supported by rising expectations of a Federal Reserve rate cut in September, after New York Fed President John Williams signaled that a reduction was possible. Locally, confidence was lifted by encouraging domestic data. An ANZ Bank survey showed that New Zealand business confidence improved in August, with firms anticipating better conditions ahead as inflationary pressures ease. On the corporate front, the utility sector outperformed, with all players posting gains: Meridian Energy (+3.5%), Contact Energy (+1.9%), Mercury NZ (+0.15%), Vector (+1.6%), and Genesis Energy (1.7%). Among other heavyweights, a2 Milk (+3.5%) and Spark NZ (+1.2%) also climbed. Other key movers included Fletcher Building (+1.3%), Summerset Group (+1.1%), Air New Zealand (+1.7%), and Kiwi Property (+1.5%).