News archive

US markets rallied after easing trade tensions pushed the S&P 500 near record highs. Presidents Trump and Xi will meet next week, whoopee. Energy stocks also climbed, seeing as Russian supply might soon be "out of bounds".

In company news, Super Micro Computer shares tumbled 8.7% as the AI server wannabe shocked investors with weak numbers. Elsewhere, Palantir rose 2.8% after announcing a partnership with Lumen Technologies to deploy its AI software. Finally, Las Vegas Sands jumped 12.4% thanks to a sterling quarter at its Singapore and Macau casinos.

Here's how it went, the JSE All-share closed up 1.75%, the S&P 500 rose 0.58%, and the Nasdaq was 0.89% higher. Great stuff!

US markets went backwards on Wednesday, after reports that the Trump administration may curb software exports to China in response to their rare earth export restrictions. This is a fight, and those are the weapons.

Russia is taking a well-deserved beating today, as the US announced sanctions on Rosneft and Lukoil, and Trump makes progress on squeezing their key crude oil customers, China and India, to go elsewhere. EU countries also reached an agreement on a new package of restrictions on Moscow that will be adopted today.

In company news, Tesla reported surging sales, but shares edged lower after profits disappointed. Elsewhere, Anthropic is inking a deal with Google for tens of billions of dollars in computing resources. Finally, Intuitive Surgical jumped 13.9% after the maker of surgical robots crushed Wall Street estimates last quarter.

Izolo, the JSE All-share closed down 0.06%, the S&P 500 fell 0.53%, and the Nasdaq was 0.93% lower. Oh well.

US markets drifted sideways yesterday, pausing after a strong two-day rally that left the S&P 500 and Nasdaq near record highs. The partial US government shutdown has left disturbing gaps in the usual economic calendar, and we are now flying blind.

In company news, General Motors surged nearly 15% to a record high, its best day in over five years, after the carmaker delivered surprisingly strong numbers. Elsewhere, Adidas lifted its full-year earnings forecast as demand for retro shoes like the Gazelle was red-hot. Also, L'Oreal's latest quarter underwhelmed, with softer US demand offsetting a modest recovery in China. Finally, Netflix sagged 6.5% after hours after a tax dispute in Brazil dented quarterly profits.

In short, the JSE All-share closed down 2.17%, the S&P 500 rose by an infinitesimal amount, and the Nasdaq was 0.16% lower. Nothing to write home about.

US markets kicked off a packed earnings week on a strong note, rebounding back toward record highs. A rally in Apple helped power major indices higher, with the tech giant jumping 3.9% to notch its first record close since December. The S&P 500 and Nasdaq are edging back to within sight of their October peaks.

In company news, Amazon Web Services is grappling with lingering disruptions after a major outage hit key clients, from government agencies to AI firms and financial platforms. Elsewhere, Apple's newest iPhones are off to a flying start, with the base model leading the charge - and the iPhone Air models selling out in China within minutes of launch, signalling robust early demand for Cupertino's latest lineup.

At the close, the JSE All-share closed up 0.53%, the S&P 500 rose 1.07%, and the Nasdaq was 1.37% higher. Splendid!

Wall Street wrapped up a shaky week on a high note thanks to some backtracking on China by President Trump and a rebound in regional banks. The S&P 500 ended up 0.19% higher for the week, which is better than nothing.

In company news, Oracle shares slipped 6.9% as investors continue to question how it will finance a massive push into AI infrastructure. Elsewhere, American Express topped earnings forecasts this quarter and reported a surge in sign-ups for its flagship Platinum card. Lastly, Shares of Novo Nordisk (-3%) and Eli Lilly (-2%) slid after King Donald said the "fat shot" (he was referring to Ozempic) should sell for $150 after discounts. He's just another politician currying favour with drug customers, instead of praising the brave capitalists who develop these valuable products. What a shame.

On Friday, the JSE All-share closed down 2.02%, but the S&P 500 rose 0.53%, and the Nasdaq was 0.52% higher. A pleasing finish.

US stocks swung lower yesterday amid fresh trade jitters with China. The S&P 500 and Nasdaq ended the session in the red, though both pared back steeper losses late in the day.

The 10-year Treasury yield fell below 4% to its lowest level since April, but we are equity investors, so we don't really concern ourselves with such matters. Credit conditions seem relatively benign, although bad auto loans have recently pushed two private lenders, First Brands and Tricolor Holdings, into bankruptcy. Serves them right, probably.

In company news, Salesforce shares climbed 4% after the company boldly forecasted strong sales growth out to 2030. Elsewhere, Asia's largest company, chipmaker TSMC, raised its 2025 revenue growth outlook for the second time this year. Lastly, eyeglass giant EssilorLuxottica rose 12% as it topped third-quarter revenue estimates, boosted by strong demand for its new AI-powered smart glasses made in partnership with Meta.

Izolo, the JSE All-share closed up 1.24%, but the S&P 500 fell 0.63%, and the Nasdaq was 0.47% lower. Ho hum.

US markets were on a rollercoaster ride yesterday, with stocks swinging wildly before the Nasdaq and S&P 500 ultimately closed higher. Bank of America (+4.4%) and Morgan Stanley (+4.7%) led financials higher after upbeat earnings reports.

In company news, Apple refreshed its iPad Pro, Vision Pro, and MacBook lineup with its new M5 chip ahead of the holiday rush, while ramping up manufacturing in Vietnam to diversify away from China. Elsewhere, ASML shares climbed 2.7% after the company said demand for its cutting-edge lithography machines is surging on the back of the AI boom. Finally, Papa John's popped 9.4% on reports that Apollo Global Management has offered to take the pizza chain private at $64 per share.

Here's how it went, the JSE All-share closed up 0.68%, the S&P 500 rose 0.40%, and the Nasdaq was 0.66% higher. Impressive.

US markets were choppy yesterday, starting badly, then rising, then wilting just before the closing bell. Renewed US-China trade tensions have unsettled investors in recent days, with President Trump accusing Beijing of "economic hostility" for halting US soybean purchases, and China firing back with counter-accusations.

In company news, EasyJet closed up 7.3% after reports that Mediterranean Shipping Co (MSC) is weighing a takeover bid with an investment partner. Elsewhere, Google is betting big on India, planning to pour $15 billion into building an AI infrastructure hub in Andhra Pradesh. Lastly, Goldman Sachs is close to an all-time high after record third-quarter revenue, thanks to a red-hot investment banking performance that outpaced its Wall Street peers.

At the closing bell, the JSE All-share closed down 0.14%, the S&P 500 fell 0.16%, and the Nasdaq was 0.76% lower. Oof.

US markets bounced back in style after Friday's slump, with the S&P 500 and Nasdaq logging their biggest gains since May. The rebound came as President Trump and his team struck a softer tone on China, easing fears of a fresh trade war. Trump said on Truth Social that "it will all be fine", while Treasury Secretary Scott Bessent hinted the threatened tariff hike may never materialise, enough reassurance to send traders back into risk-on mode.

In company news, Amazon plans to hire 250 000 seasonal workers for the holidays, matching last year's intake and standing out as one of the few big employers still adding staff in a cooling labour market. Elsewhere, OpenAI has struck a multi-year deal with Broadcom to co-develop custom chips and networking gear, another move to boost its computing firepower as demand for AI infrastructure continues to explode.

In summary, the JSE All-share closed up 0.91%, the S&P 500 rose 1.56%, and the Nasdaq was 2.21% higher. That's more like it!

The market's winning streak hit a wall on Friday. President Trump rattled markets with a Truth Social post threatening fresh tariffs on China and a possible cancellation of his meeting with President Xi. The sharp selloff wiped out the week's gains for the S&P 500 and Nasdaq, a reminder that geopolitics still has the power to spoil an otherwise steady rally.

In company news, Tesla's Shanghai factory saw shipments rise in September as China's car market entered its busy season. Elsewhere, Google has become the first company in the UK to be designated "strategic market status", a new designation that puts its search and advertising empire under tighter scrutiny from regulators.

On Friday, the JSE All-share closed down 0.20%, the S&P 500 fell 2.71%, and the Nasdaq was 3.56% lower. Ouch!

US markets ended modestly lower yesterday, despite the fact that the top dog, Nvidia, was up 1.8%. Yesterday marked six months since the S&P 500 plunged to a tariff-inspired "Liberation Day" low. It has gained over 35% since April 8, one of its best six-month moves in history. Go figure.

We aren't commodity traders, but for the record, oil fell over 1% yesterday after Israel and Hamas agreed to the first phase of a peace deal, and gold and silver eased following their recent rallies.

In more interesting company news, Novo Nordisk will acquire Akero Therapeutics for up to $5.2 billion, expanding its pipeline into liver disease treatments linked to obesity. Elsewhere, PepsiCo rose by 4.2% after the snack and beverage giant beat earnings estimates and said Lay's chips would get a design upgrade. Finally, Ferrari skidded off the tracks, screeching 14.9% lower after disappointing earnings guidance.

In summary, the JSE All-share closed down 0.66%, the S&P 500 settled back by 0.28%, and the Nasdaq ended just 0.08% lower. An interesting session.

US markets bounced back yesterday, with dip buyers pushing the Nasdaq and S&P 500 to fresh record highs. The rebound erased Tuesday's losses, proving once again that most minor pullbacks are just buying opportunities.

In company news, Cisco unveiled a new chip and networking system designed to link AI data centres over vast distances, ramping up its rivalry with Broadcom. Elsewhere, Google is fighting a US government proposal to block it from bundling its Maps and YouTube apps with its Gemini AI service. Finally, Viasat rose 13.9% after revealing a contract to supply satellite services to the US Space Force.

At the closing bell, the JSE All-share was up 1.39%, the S&P 500 climbed by 0.58%, and the Nasdaq posted another 1.12% gain. Hooray!

US markets took a breather yesterday, as the Nasdaq and S&P 500 eased off record highs from the previous session. Tech stocks led the pullback after reports suggested Oracle's cloud margins are thinner than expected, sending the stock down 2.5%. Gold broke above $4,000 per ounce for the first time.

In company news, IBM plans to integrate Anthropic's AI technology into its software products, expanding its push into enterprise artificial intelligence. Elsewhere, Dell doubled its sales and profit growth forecasts for the next two years, saying booming AI demand will sustain momentum through 2030. Lastly, Salesforce said it won't pay a ransom to a hacker claiming to have stolen client data, after threats to publish the information online.

In summary, the JSE All-share closed down 0.43%, the S&P 500 gave up 0.38%, and the Nasdaq slumped by 0.67%. Ah, damn.

US markets kicked off the week on a strong note. Chipmakers rallied, driving the Nasdaq and S&P 500 to fresh record highs. The S&P 500 notched its seventh straight gain, its longest winning streak since May, as this bull market approaches the three-year mark with its momentum still intact.

In company news, AMD surged 23.7% after announcing a multibillion-dollar partnership with OpenAI to build AI data centres powered by its processors. Elsewhere, Comerica jumped 13.7% after Fifth Third Bancorp proposed an all-stock deal to acquire the lender. Finally, Boeing rose 1.6% on reports that the company aims to churn out up to 42 new 737 MAX jets per month.

At the close, the JSE All-share closed up 0.13%, the S&P 500 rose 0.36%, and the Nasdaq ended 0.71% higher. Wow, look at that.

Wall Street's record-setting rally took a breather on Friday as tech stocks paused for air and geopolitical jitters returned. The Nasdaq slipped, weighed down by weakness in AI stocks like Palantir, which closed down 7.5%, while the S&P 500 managed to hold its longest winning streak since July. The US government shutdown stretched into a third day.

In company news, Applied Materials fell 2.7% after warning of a $600 million hit to its 2026 revenue. Elsewhere, Plug Power rose 34.3% because it won a contract to deliver a new electrolyser array to a company in Portugal. Huh?

On Friday, the JSE All-share closed up 1.56%, the S&P 500 rose a tiny 0.01%, but the Nasdaq was 0.28% lower. Ok.