KEY POINTS:
The benchmark share index clawed above 4000 in early business today but the market's rebound was insipid.
The NZSX-50 benchmark index, which yesterday fell 0.68 per cent to below 4000 for the first time since late August, was by 10.20am up 3.1 points to 4002.7.
Turnover was steady at $28 million with 14 stocks up and 17 down among the 60 traded.
Wall Street rebounded overnight after the Federal Reserve said it is linking with other central banks to ease global credit market strains through increased short-term lending.
On the local scene, market leader Telecom was unchanged on 444, No 2 stock Fletcher Building was up 8c to 1119 and No 3 Contact Energy was up 13c to 832.
Vector was down 5c to 231 and GuocoLeisure, formerly BIL International, was down 4c to 102.
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In the US, the Dow Jones industrial average index rose 46.41 points, or 0.35 per cent, to end unofficially at 13,479.18.
The Standard & Poor's 500 Index rose 9.31 points, or 0.63 per cent, to 1486.96 and the Nasdaq Composite Index rose 18.82 points, or 0.71 per cent, to 2671.17.
- NZPA