The NZX 50 rose 57 points or 0.4%, to 13,286 on Friday morning trade, reversing the prior session’s losses after Wall Street’s S&P 500 hit record highs for a third day Thursday, supported by in-line U.S. CPI data and signs of a weakening labor market that cemented bets of a Fed rate cut next week. For the week, the index is on track for a second consecutive gain, up about 0.5% so far, driven by optimism that the RBNZ will ease further after Governor Christian Hawkesby signaled the official cash rate could fall another half point by year-end. Further gains were tempered by fresh data showing New Zealand’s manufacturing sector contracted in August after July’s brief expansion, while caution grew ahead of food inflation data due later this week, following July’s highest reading since 2023. Sector-wise, producer manufacturing, energy minerals, and healthcare led the advance, with notable rises from Scott Tech (3.6%), T&G Global (2.0%), Skellerup (1.8%), and Channel Infrastructure (1.3%).