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The US stock market selloff deepened on Friday after a weak jobs report heightened concerns that the Federal Reserve's decision to keep interest rates at a two-decade high could lead to a more significant economic slowdown. Those concerns sparked turmoil in global trading, leading to a sharp increase in volatility and prompting investors to retreat from riskier assets.

The S&P 500 saw its worst reaction to jobs data in almost two years. The Nasdaq is down over 10% from its peak, passing the threshold that meets the definition of a correction.

In company-specific news, Nintendo's operating profit dropped a steeper-than-anticipated 71%, as consumers delayed purchases in anticipation of the upcoming launch of a new flagship video game console to succeed the Switch. In more positive news, Cloudflare jumped 6.8% on a strong beat-and-raise earnings announcement.

On Friday, the JSE All-share closed down 1.62%, the S&P 500 lost 1.84%, and the Nasdaq was 2.43% lower. Sad :(

US markets took a hit last night and bonds rallied on disappointing economic data. Unemployment claims hit an almost one-year high and US manufacturing contracted. With the next Federal Reserve meeting only in September, this bad news was taken as bad news. The S&P 500 and the tech-heavy Nasdaq saw their biggest declines since May 2022.

In company news, Amazon slid 6.8% in late trade on a slight revenue miss and disappointing guidance for the third quarter. The good news was that AWS cloud sales exceeded all estimates. Elsewhere, Apple rose 1% after-hours as it reported excellent hardware and services revenue.

In summary, the JSE All-share closed down 1.08%, the S&P 500 gave up 1.37%, and the Nasdaq was hammered by 2.30%. Oof.

US markets made a strong comeback on the last day of July, closing out a volatile month on a high note. All three major indices opened significantly higher and maintained their gains after the Fed decided to keep interest rates steady. Fed Chair Jerome Powell hinted that a rate cut could be on the table in September if inflation trends continue to improve. For the month, the S&P 500 gained 1.1%, while the tech-heavy Nasdaq saw a slight dip of 0.8%.

In company news, Meta Platforms jumped 7.2% in after-hours trading after the social media giant reported better-than-expected sales. Arm Holdings, however, fell 10.5% as the chipmaker decided not to raise its annual forecast, sparking concerns about its growth potential. Meanwhile, Nvidia surged 12.8% following a bullish recommendation from JP Morgan analysts.

At the close, the JSE All-share closed up 1.93%, the S&P 500 added 1.58%, and the Nasdaq jumped 2.64% higher. What a strong rebound!

US markets dipped on Tuesday as investors shifted focus from tech giants to smaller companies. The Nasdaq has now dropped 9% from its peak. Major tech stocks like Nvidia (-7.0%), Qualcomm (-6.7%), Broadcom (-4.5%), and Tesla (-4.1%) were among the biggest losers. Ouch.

In company news, Microsoft shares slipped 2.7% after-hours as its cloud unit Azure grew slightly slower than expected (still, by 29% year-on-year, very good). Elsewhere, Merck shares slid 9.8% after the drugmaker lowered its earnings forecast for the year. Finally, Procter & Gamble shares declined 4.8% following a sloppy sales report from the maker of Tide detergent and Pampers diapers.

At the end of the day, the JSE All-share rose 0.23%, but the S&P 500 lost 0.50%, and the Nasdaq stumbled by 1.28%.

US markets edged up slightly last night, kicking off a week that will be packed with important corporate earnings reports. Energy was the worst-performing sector in the S&P 500, impacted by a drop in oil prices. A gauge of the "Magnificent Seven" megacaps rose by 1%.

In company news, McDonald's swelled by 3.7% despite reporting a 1% decline in US same-store sales, the first quarterly drop since "revenge eating" became a thing after Covid. They maintained their guidance for new stores, capital expenditures, and operating margins. Elsewhere, Heineken fizzled by 8.2% thanks to a flat performance from its investment in a Chinese brewer.

In summary, the JSE All-share closed down 0.13%, the S&P 500 sneaked in a gain of 0.08%, and the Nasdaq was only 0.07% higher. Hey, still counts.

US markets rose on Friday, thanks to the release of positive economic data. We remain on track for interest-rate cuts this year, before Christmas, maybe even sooner, we promise. Every sector in the S&P 500 saw gains, with homebuilders reaching a record high. That positive session capped a difficult week.

The Fed's preferred measure of underlying US inflation, the core personal consumption expenditures (PCE) price index, rose at a modest pace in June, while spending remained healthy. Somehow, consumer sentiment dropped to an eight-month low. This is a good combination.

In company news, 3M, the maker of Post-it notes, amongst many things, surged 23%, marking its biggest one-day gain since 1980, driven by a bullish outlook. In other news, Bill Ackman's US closed-end fund IPO was postponed. Finally, Weight Watchers fell 12.5% after it got cut from overweight to equal weight by Morgan Stanley based on obesity drugs. At least it lost weight haha.

On Friday, the JSE All-share gained 0.55%, the S&P 500 stepped up by 1.11%, and the Nasdaq trotted 1.03% higher.

US markets closed lower as major indices were dragged down by the world's largest tech companies in the last few minutes of trading. However, about 300 companies in the S&P 500 advanced, buoyed by the energy, industrial, and financial sectors. The S&P 500 remains only 5% away from its all-time highs.

In company news, Deckers rose 10.5% after-hours as the apparel retailer, known for brands like UGG and Hoka, reported earnings ahead of expectations. Meanwhile, Ford sank 18.4% - the most since 2008 - after missing profitability targets. Lastly, Lululemon dropped 9.1% as an analyst from Citi expressed concerns about the company's ability to hit financial targets due to ongoing production issues and slowing athleisure wear trends.

Izolo, the JSE All-share closed up 0.10%, the S&P 500 lost 0.51%, and the Nasdaq got chopped by another 0.93%. It was a difficult day.

US markets had a rough day yesterday after muted earnings from mega-caps led to a significant sell-off in big tech. The S&P 500 experienced its worst day since December 2022, ending a long run without a 2% drop, the best since the global financial crisis. Losses were even more pronounced in the Nasdaq, semiconductor companies like Super Micro Computer (-9.1%), Broadcom (-7.6%), Nvidia (-6.8%), Qualcomm (-6.4%), and AMD (-6.1%) led the slide.

In company news, Visa dropped 4% on marginally disappointing results. Meanwhile, Tesla fell 12% due to a profit miss and delays in its Robotaxi project. Elsewhere, Enphase Energy was a bright spot, jumping 13% after a bullish update from management at its earnings call.

In summary on a nasty day, the JSE All-share closed down 0.14%, the S&P 500 dropped 2.31%, and the Nasdaq was kiboshed by 3.64%. Oh dear.

US stocks started well yesterday, but ended in the red. The first week of earnings season hasn't wowed investors unfortunately. Indices are close to record highs, so we need some blowout numbers to sustain the strong performance from the first half of the year.

In company news, Tesla braked hard, falling 7.8% after reporting weak profits. Car sales were slow, but their services and battery sales are accelerating. In contrast, Spotify boomed by 12.0% after announcing its second consecutive quarterly profit. Alphabet declined by 2.2% after-hours, even though its Google search and YouTube revenue beat expectations.

Here's the lowdown, the JSE All-share closed up 0.27%, the S&P 500 fell 0.16%, and the Nasdaq slipped just 0.06%.

Stocks bounced back strongly yesterday after their worst week since April, with the megacaps leading the recovery. This followed Joe Biden's announcement that ended his presidential run. Last week was all about the "Trump trade" but now the election outcome seems a coin toss again. We shall see. The "Magnificent Seven" rose by 2.7% with Tesla gaining 5.2% and Nvidia climbing 4.8%.

In company news, Verizon dropped 6.1% following the wireless carrier's report of weaker-than-expected quarterly revenue. Elsewhere, CrowdStrike fell another 13.5% due to ongoing issues stemming from a faulty software update. More on that below. Lastly, Ryanair nose-dived 15.4% after reporting economy-class profits and lowering its outlook for summer ticket prices.

At the end of the day, the JSE All-share closed up 0.71%, the S&P 500 rose 1.08%, and the Nasdaq bounced 1.58% higher.

US markets experienced another broad decline on Friday, undermined by a global technology outage that shut down airports, banks and disrupted businesses worldwide. Most sectors in the S&P 500 fell, resulting in the index's worst week since April. The "Magnificent Seven" group of megacap stocks ended the week about 5% lower. In a general selloff, the market leaders often get hit hardest, due to profit-taking.

In company news, CrowdStrike shares dropped 11% after an update caused widespread outages for millions of Microsoft Windows users. Their CEO later confirmed that it wasn't a hack, but a problem with a version update. More on that tomorrow. Elsewhere, Eli Lilly closed 1% up after Mounjaro received regulatory approval in China as a weight loss drug, less than a month after a similar therapy from Novo Nordisk was approved. That country is heavily affected by obesity, and competition there will be fierce.

On Friday, the JSE All-share closed down 0.51%, the S&P 500 fell 0.71%, and the Nasdaq was 0.81% lower. Bruising!

US markets saw a broad decline, dragging down the S&P 500 and Nasdaq. The selloff impacted more than just tech shares, with 10 out of 11 sectors in the S&P 500 closing lower. Only three of the 30 stocks in the Dow industrials finished higher. The small-cap Russell 2000 index, which had reached a multiyear high earlier this week, fell by 1.8%. However, the S&P 500 is still up 16.9% year-to-date, while the tech-heavy Nasdaq is up 21% so far this year.

Netflix reported market-beating numbers after the market close. The share price initially dropped but is now sitting flat. More on those numbers on Monday.

In company news, Broadcom was up nearly 3% on Thursday following a report by the Information that the company is in talks to develop an artificial intelligence chip for OpenAI. Elsewhere, Domino's Pizza shares dropped 14% after the world's largest pizza chain announced it would open significantly fewer new locations this year than initially expected.

In short, the JSE All-share closed down 0.15%, the S&P 500 fell 0.78%, and the Nasdaq was 0.70% lower.

US markets pulled back from their all-time highs as concerns over tighter US restrictions on chip sales to China triggered a selloff in the semiconductor industry. Major players like Nvidia, Advanced Micro Devices, and Broadcom led the decline, causing the closely watched semiconductor index to drop by 6%. As a result, ASML fell over 10%, despite reporting strong orders for the remainder of the 2024 financial year.

In company news, EssilorLuxottica has reached an agreement to buy the streetwear label Supreme from VF Corp. for $1.5 billion in cash. This acquisition adds another lifestyle brand to the French-Italian eyewear giant's portfolio, which already includes well-known names such as Ray-Ban and Oakley.

In short, the JSE All-share closed down 0.83%, the S&P 500 fell 1.39%, and the Nasdaq was 2.77% lower.

US markets closed up yesterday, with major indices hitting new highs as investors bet on upcoming interest rate cuts from the Fed. This optimism spurred a move into riskier assets. Over the past four sessions, the Russell 2000 outperformed the Nasdaq 100 by nearly 12 percentage points, a milestone not seen since 2011.

In company news, UnitedHealth climbed 6.5% after they posted stronger-than-expected earnings and revenue, and maintained their 2024 guidance. Elsewhere, Bank of America's shares surged 5.3% as the bank reported quarterly results that exceeded Wall Street expectations and projected an improvement in lending income for the second half of the year. In addition, Morgan Stanley rose 0.9% following the announcement of a 41% year-over-year profit increase, driven by higher investment banking revenue. Lastly, Charles Schwab fell 10% after the brokerage reported a decline in bank deposits and net interest revenue, along with a rise in short-term borrowing.

In summary, the JSE All-share closed down 1.25%, the S&P 500 rose 0.64%, and the Nasdaq was 0.20% higher.

US stocks edged higher yesterday, as a Donald Trump presidency is seen as a good thing for markets. The assassination attempt on Trump has boosted his chances of winning the White House, with betting markets saying his odds are now over 70%.

The S&P 500 hovered near its all-time highs, while the Russell 2000, representing smaller companies, added 2% yesterday. Trump Media surged 31%, and conservative video network Rumble rose 21%. Trump's improved odds boosted oil producers, gun makers, and private prisons. We could be witnessing the return of the Trump trade. He might be good for markets, but his brand of politics is bad for global cohesion.

In other company news, Apple reached a new high after being named a top pick at Morgan Stanley, while Nvidia fell. Goldman Sachs Group gained 2.6% as it reported a profit surge, but plans to slow down buybacks. Lastly, BlackRock saw $51 billion in client inflows to its long-term investment funds in the second quarter, bringing the firm's total assets under management to a record $10.6 trillion, solidifying its position as the world's largest money manager.

Yesterday, the JSE All-share closed up 0.57%, the S&P 500 rose 0.28%, and the Nasdaq was 0.40% higher.