News archive

US markets were closed for Juneteenth yesterday. Oil gave up earlier gains after White House press secretary Karoline Leavitt said President Trump will decide within two weeks whether to back Israel militarily in its clash with Iran. The statement brought some near-term clarity but didn't do much to settle nerves over possible US escalation, or the inflationary blowback if energy markets get rattled.

In company news, Google's legal troubles in Europe just got a little stickier. An adviser to the EU's top court has sided with regulators in their long-running case over Android, saying the company did abuse its dominance by boxing out rivals. The original EUR4.34 billion fine was trimmed slightly in 2022, time will tell how much of that Google will have to pay.

Izolo, the JSE All-share closed down 0.08%.

US stocks lost steam late on Wednesday after Fed Chair Jerome Powell threw some cold water on rate-cut optimism. He flagged ongoing risks from tariffs and inflation, saying they're still muddying the waters for a clear path to looser monetary policy. The S&P 500 briefly popped above 6 000, but couldn't hold the line and ended the day slightly lower. Markets finished the session more or less flat.

In company news, Nike and Kim Kardashian's Skims collab was supposed to hit shelves this spring (up north), but the launch has been delayed, no new date yet. Meanwhile, Alphabet's Waymo is eyeing the Big Apple. They have applied for a permit to test thier robotaxis in New York City, signaling ambitions to crack one of the toughest, most lucrative ride-hailing markets in the world, even though the local rulebook isn't quite ready for self-driving cars.

In summary, the JSE All-share closed up 0.35%, the S&P 500 fell a tiny 0.03%, and the Nasdaq was 0.13% higher.

US markets closed lower yesterday as traders took a cautious stance amid rising tensions in the Middle East. Fears of broader US involvement in the conflict kept sentiment low, pushing the S&P 500 and the tech-heavy Nasdaq into the red. President Donald Trump convened with his national security team in Washington on Tuesday to assess the situation, adding a fresh layer of geopolitical jitters.

In company news, Amazon CEO Andy Jassy says that their headcount will likely shrink over the next few years, not because of slowing growth, but thanks to AI taking over more tasks. It's automation, not austerity. Elsewhere, Eli Lilly is putting $1.3 billion on the table to acquire gene-editing firm Verve Therapeutics, doubling down on next-gen biotech in a bid to fuel long-term pipeline growth.

At the close, the JSE All-share closed down 0.70%, the S&P 500 fell 0.84%, and the Nasdaq was 0.91% lower.

Markets took a deep breath and exhaled. After a jittery Friday, calm returned as tensions between Israel and Iran appeared to cool, at least for now. The S&P 500 bounced back almost 1%, oil prices dipped, and even gold lost some shine as traders shifted back into risk-on mode. Reports that Tehran may be open to reviving nuclear talks helped ease nerves, with investors betting the conflict won't spiral into something bigger.

In company news, Meta is finally cracking open the monetisation vault on WhatsApp, with plans to roll out ads inside the world's most popular messaging app. It's a bold move aimed at unlocking fresh revenue just as the company doubles down on long-term bets like AI. Elsewhere, over in streaming land, Roku and Amazon have teamed up, making it easier for advertisers to reach over 80% of US connected households.

On Friday, the JSE All-share closed down 1.76%, but yesterday the S&P 500 rose 0.94%, and the Nasdaq was 1.52% higher.

Wall Street shook off early jitters and closed in the green yesterday, as hopes of an interest rate cut got a boost. Trump called Powell a "numbskull" for not cutting immediately. Surely that's unpresidential? The Fed chief knows his mandate, and is a sensible man. He has a committee and they think about this stuff deeply. They will assess the state of the US job market and inflation data and make the right call. Come on.

In company news, Oracle said its cloud infrastructure revenue will surge more than 70% in the next year, sending its stock up 13.3%. Elsewhere, AI outsourcing company CoreWeave is burning short sellers as its stock price keeps rising (+272% in six weeks since listing). Finally, Boeing (-4.8%) and engine maker GE Aerospace (-2.3%) both sank after an Air India 787 Dreamliner ploughed into the ground soon after take-off in Ahmedabad. Very upsetting.

Here's the lowdown, the JSE All-share closed up 0.65%, the S&P 500 rose 0.38%, and the Nasdaq was 0.24% higher.

US markets closed lower yesterday, snapping a three-day winning streak as Big Tech took a step back. Inflation came in at 2.4% for May, up slightly from April's 2.3%, but exactly what economists predicted. Geopolitical tensions continue, with worrying news popping up all over the place.

In company-specific developments, online pet store Chewy reported weak results and got sent to the doghouse (-10.9%). Elsewhere, Nvidia's Jensen Huang says quantum computing is looking more useful, and could be deployed to crack some complex global challenges. Finally, Lockheed Martin lost altitude (-4.3%) after the Pentagon cut its order for new F-35 fighter jets in half.

Izolo, the JSE All-share closed down 0.26%, the S&P 500 fell 0.27%, and the Nasdaq was 0.50% lower. Disappointing.

US markets finished in the green again yesterday, with the S&P 500 now just a whisker away from setting fresh all-time highs. As we like to tell clients, you want to be invested in something that keeps hitting new records, so take this as a buying signal.

In company news, Tesla (+5.7%) was back in the robotaxi spotlight, with Elon Musk and team sharing a slick video of a driverless ride through Austin. Elsewhere, Mark Zuckerberg is reportedly hand-picking an elite AI taskforce to chase artificial general intelligence, whatever that is. Finally, JM Smucker had a rough session (-15.6%), after warning that rising tariffs are brewing trouble for its coffee margins.

At the end of it all, the JSE All-share closed up 0.25%, the S&P 500 rose 0.55%, and the Nasdaq was 0.63% higher. Thank you very much.

US markets closed higher yesterday, with the S&P 500 inching up, but staying just shy of its February highs. Tesla led the charge, rising 4.5% after Donald Trump extended an olive branch to Elon Musk, saying he wants to keep Starlink at the White House, and wished Musk "very well." Remember, the latter funds candidates in elections.

In company news, Qualcomm is dropping $2.4 billion to snap up UK-based Alphawave, beefing up its chip tech for the AI boom. Elsewhere, Meta is eyeing a multibillion-dollar investment in Scale AI. Finally, Robinhood (-1.98%) and AppLovin (-8.21%) fell after S&P Dow Jones Indices decided not to include them in the S&P 500.

At the close, the JSE All-share inched up by 0.05%, the S&P 500 rose 0.09%, and the Nasdaq ended 0.31% higher.

US markets wrapped up the week on a strong note after a better-than-expected jobs report. The economy added 139 000 jobs last month, slower than before, but enough to ease fears of an imminent recession.

For the week, the S&P 500 gained 1.5%, and the Nasdaq Composite led the pack with a 2.2% jump. The markets are now up five out of the past seven weeks.

In company news, online broker Robinhood Markets notched its sixth straight day of gains as traders bet it might soon join the S&P 500. Elsewhere, Boeing is back in business with China. The aerospace giant resumed deliveries of commercial jets to the country for the first time since April.

In summary, the JSE All-share closed down 0.05%, but the S&P 500 rose 1.03%, and the Nasdaq was 1.20% higher. Very nice!

US markets ended lower yesterday after an online catfight broke out between Donald Trump and Elon Musk. US equities had rallied earlier in the day thanks mostly to a 90-minute call between Trump and Xi, which resulted in a plan to renew US-China trade talks, but those gains evaporated. We certainly live in interesting times.

In company news, Circle Internet Group surged after pulling off a successful IPO, raising nearly $1.1 billion. Elsewhere, Lululemon shares dropped a hefty 22.4% after the athleisure brand trimmed its full-year profit outlook and guided for softer sales this quarter.

In summary, the JSE All-share closed up 0.80%, but the S&P 500 fell 0.53%, and the Nasdaq gave up 0.83%.

Yesterday was uneventful on Wall Street. Some soft economic data gave weight to the idea that the Fed could deliver at least two rate cuts this year. The S&P 500 closed flat while the Nasdaq rose, but defensives like health care and communications moved quietly higher.

In company news, Wells Fargo just got out of the Fed's naughty corner, the asset cap that's been limiting its growth since 2018 has finally been lifted. Meanwhile, CrowdStrike is in the spotlight after US officials asked for details on how it books some of its customer deals. The cybersecurity firm says it is cooperating fully. Shares wobbled a bit but that could also be due to guidance released the day before, more on that below.

In summary, the JSE All-share closed up 0.81%, the S&P 500 rose a tiny 0.01%, and the Nasdaq was 0.32% higher.

US markets kept the momentum going yesterday, with the Nasdaq turning positive for the year. Tech and energy sectors topped the S&P 500's leaderboard. Broadcom rallied 3.3% to close at a record high. Nvidia also gained 2.8% and is back on top as the world's most valuable company.

In company news, discount retailer Dollar General surged 16% after raising its outlook. Somehow they are less affected by tariffs. Bumble tumbled 6.5% on a report that the dating app is losing market share to Hinge. That might be useful information to some of you?

In short, the JSE All-share closed down 0.29%, but the S&P 500 rose 0.58%, and the Nasdaq cruised 0.81% higher. Lovely!

US markets ended in the green yesterday, brushing off fresh trade jitters between Washington and Beijing. The S&P 500 tiptoed higher as June kicked off, typically a slower month for gains. Chipmakers had a good day, with Nvidia leading a 1.5% plus rally in the sector. Netflix and CrowdStrike traded at new all-time highs.

In company news, Disney is swinging the axe again, cutting several hundred jobs across its film and TV divisions. Elsewhere, Moderna shares rose after it secured US approval for a new Covid vaccine, though access is being narrowed thanks to RFK Jr. Finally, Meta rose 3.6% on a report in the Wall Street Journal that the company is going all-in on AI created advertisements.

At the close, the JSE All-share was 0.88% higher, the S&P 500 rose 0.41%, and the Nasdaq advanced by another 0.67%. Kudos to the bulls.

Stocks went sideways on Friday, but US markets just had their best month since late 2023. The S&P 500 climbed over 6% in May, and is now just 4% shy of its record high. Tech stocks led the charge, with the Nasdaq Composite 9.6% higher, driven by cooler inflation data and fading fears of harsh Trump-era tariffs.

In company news late last week, Palantir popped 7.7% after reports that its government footprint is expanding under the Trump administration. Elsewhere, Ulta Beauty gained nearly 12% as strong first-quarter results showed consumers are still splurging on skincare and cosmetics, even with economic clouds on the horizon.

On Friday, the JSE All-share closed down 0.42%, the S&P 500 fell 0.01%, and the Nasdaq was 0.32% lower. No worries.

US markets ended in the green last night, thanks in part to Nvidia's strong earnings report, which gave the Nasdaq a jolt. Earlier in the day, investors cheered news that a federal trade court had struck down Trump's broad tariff regime, only for the celebrations to fizzle out when an appeals court paused that ruling. It's all very exciting for lawyers, but confusing for investors, and a nightmare for import agents and logistics companies.

In company news, Meta Platforms is teaming up with defense-tech startup Anduril Industries to build AI-powered gear for the US military, including a next-gen helmet packed with virtual and augmented reality features. Elsewhere, HP is feeling the pinch as it missed on profits and cut its annual earnings forecast. The stock fell 8.3%.

In summary, the JSE All-share closed up 0.91%, the S&P 500 rose 0.40%, and the Nasdaq ended 0.39% higher. A decent performance.