During the reporting season, many companies held back on a firm outlook because of the economic uncertainty. "Investors will want to avoid any nasty surprises," Stratful said.
Investors in the United States are on edge as they ponder whether the economy is slipping into recession – yet still see improved economic data.
The services industry picked up again in August for the second successive month with stronger orders and employment growth. The Institute for Supply Management index reached 56.9, ahead of market expectations of 55.5. This followed a positive August employment report with 315,000 new jobs added.
The Dow Jones Industrial Average was down 0.55 per cent to 31,145.30 points; S&P 500 declined 0.41 per cent to 3908.19; and Nasdaq Composite fell 0.74 per cent to 11,544.91.
Adding to the weakness in stocks, the US 10 Year Treasury Note yield increased 15 basis points to 3.35 per cent, the highest since 2007.
Across the Tasman, the S&P/ASX 200 Index had fallen 1.44 per cent to 6728.2 points at 6pm NZ time. The Hong Kong Hang Seng was down 1.97 per cent to 18,825.23 points and Japan's Nikkei 225 Index had declined 0.79 per cent to 27,408.85.
At home, Fisher and Paykel Healthcare rebounded, rising 30c to $19.20 with 2.57 million shares worth $48.92m changing hands. Analysts' target price for Fisher and Paykel range from $17 to $23 with a median of $21.50 for its shares.
Auckland International Airport was down 11c to $7.49; a2 Milk declined 17c or 2.68 per cent to $6.18; SkyCity Entertainment decreased 9c or 3.18 per cent to $2.74; and wine exporter Delegat Group shed 25c or 2.13 per cent to $11.50.
Among the energy companies, Contact was down 5c to $8.04; Mercury declined 5c to $5.99; and Meridian decreased 1.5c to $4.87.
Infratil, down 11c to $9.40, was again heavily traded with 1.87 million shares worth $17.73m changing hands.
Vista Group declined 5c or 2.89 per cent to $1.68; Hallenstein Glasson decreased 9c to $5.11; Harmoney fell 3c or 3.8 per cent to 76c; Winton Land lost 5c to $2.80; and Steel & Tube was down 4c or 2.58 per cent to $1.51.
Restaurant Brands, falling 16c or 1.95 per cent to $8.05, told the market that two key members of the leadership team will be retiring next year.
Russel Creedy, who joined as supply chain manager in 2001 and has been chief executive since 2007, is stepping down on March 31, and group chief financial officer Grant Ellis is leaving on May 31.
Under their leadership, Restaurant Brands has expanded and now operates 359 KFC, Taco Bell, Pizza Hut and Carl's Jr stores in New Zealand, Australia, California and Hawaii, employing 11,000 people.
Meal kit company My Food Bag, down 4c or 5.97 per cent to 63c, hit its lowest level since listing in March last year.
Other decliners were Evolve Education shedding 3c or 4.48 per cent to 64c; Smartpay decreasing 2.5c or 3.47 per cent to 69.5c; Metro Performance Glass falling 2c or 8.7 per cent to 21c; and Millennium & Copthorne Hotels down 9c or 4.29 per cent to $2.01.
Turners Automotive gained 9c or 2.46 per cent to $3.75, Argosy Property was up 2.5c or 1.94 per cent to $1.315; NZME added 3c or 2.33 per cent to $1.32; and Scott Technology increased 6c or 2.14 per cent to $2.87.
Carbon Fund fell 5c or 2.06 per cent to $2.36 on the day of the latest Emissions Trading Scheme auction which saw only 4.825m units traded as the cost containment reserve was fully allocated earlier this year. The units sold at $85.40 each, just below the spot price of $87.05 but still at record levels.
Kiwi Property, down 1c to $1.02, has a conditional agreement to sell the Christchurch Northlands Shopping Centre to Mackersy Property for $160m, representing an all-up 10.9 per cent return. Kiwi will continue to manage the shopping centre.
