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US markets ended the week on a downbeat note, wrapping up what turned out to be the worst week since 2022. The tech-heavy Nasdaq took the biggest hit, with a 5.5% decline over 5 days, while the broader S&P 500 dropped by 3.1%. Notably, Nvidia experienced a significant setback, tumbling by 10% on Friday, marking its largest one-day loss in four years.

In company news, American Express rose 6.2% after reporting good earnings as new card sign-ups accelerated. United Health climbed 1.6%, finishing the week up 14% after its quarterly numbers beat Wall Street's expectations. Lastly, TikTok plans to challenge in court any US law mandating a ban or divestiture of the Chinese-owned app, if the proposed US bills are implemented.

On Friday, the JSE All-share was up 0.13%, the S&P 500 fell 0.88%, and the Nasdaq was 2.05% lower.

US markets started well yesterday, but fizzled out later in the day and extended their recent slide. The S&P 500 and Nasdaq Composite have shed 5% so far in April, but remain in positive territory for the year. We are still optimistic that this bull market has plenty of legs.

In company news, Netflix went down by 4.8% in late trading despite reporting a pleasing gain in paid subscribers of 16% year-on-year. Intuitive Surgical rose by 3.4% after putting out better-than-expected numbers for the first three months of the year. Lastly, L'Oreal enjoyed a 9.4% increase in organic sales for the first quarter, showing just how inelastic the beauty business is.

Izolo, the JSE All-share was up 0.38%, the S&P 500 fell 0.22%, and the Nasdaq was 0.52% lower. It's been a tough week.

Wednesday was another downbeat day for US markets, marking the fourth consecutive session of losses. This is the S&P 500's longest losing streak since the start of 2024. Annoyingly, this was the third session in a row where the index rose in early trading, but reversed course and closed lower.

In company news, Micron Technology is set to receive over $6 billion in grants from the US Commerce Department to build memory chip factories. Elsewhere, ASML closed down 7% after it saw a big drop in orders in the first quarter. They're the world's leading producer of chip-making machines, but have a lumpy sales cycle and are having issues with Chinese customers because of US export rules. Lastly, United Airlines' stock surged by 17%, making it the top performer in the S&P 500, following the carrier's announcement of stronger-than-expected quarterly results. Despite all the bleating about Boeing planes, flights are full.

Here's how it went, the JSE All-share was marginally lower by 0.01%, the S&P 500 fell 0.58%, and the Nasdaq sank by 1.15%. Like Dubai, underwater.

US markets took a breather yesterday after trading in a narrow range for most of the day. It didn't help much that Fed Chair Jerome Powell hinted that they would probably wait a bit longer before cutting interest rates than they previously anticipated. The Dow surprisingly snapped its six-day losing streak.

In company news, UnitedHealth rose 5.2% after beating earnings expectations, despite a system-wide data breach by hackers. Elsewhere, Morgan Stanley's stock went up 2.5% following a solid first-quarter earnings report, with a noticeable increase in investment banking revenue. Bank of America didn't fare as well, falling by 3.5% after revealing an 18% decline in first-quarter profit.

In short, the JSE All-share closed down 2.04%, the S&P 500 fell 0.21%, and the Nasdaq was 0.12% lower.

US markets went down sharply yesterday after retail sales exceeded forecasts. Robust consumer demand continues to drive a strong economy, but that lessens the chances of interest rate cuts. The S&P 500 dropped by over 1% to reach its lowest level in nearly two months. On the plus side, banks performed well following a surprisingly strong profit announcement from Goldman Sachs.

In company news, Tesla fell by 5.6% after announcing a layoff of 10% of its workforce. Elsewhere, Goldman Sachs was up 2.9%. Salesforce slumped by 7.3% on that story yesterday about its plans to buy Informatica.

At the close, the JSE All-share was 1.05% lower, the S&P 500 lost another 1.20%, and the Nasdaq sagged by 1.79%. Ouch.

Friday was an ugly day for US markets. All eleven sectors sold off with 460 companies out of the 500 in the big-cap index closing in the red. Financials were the biggest losers, sliding 3.6% on the day. Sticky inflation still lingers in the background, while tensions in the Middle East only add to market participants' concerns.

In company news, the world's largest money manager BlackRock closed down 2.9% after reporting better-than-expected top and bottom line numbers for the first quarter but issuing a wishy-washy forecast for the year. JPMorgan saw the largest drawdown of the day, off 6.5% because it also delivered a muted projection for the next coming quarters.

On Friday, the JSE All-share closed unchanged, but the S&P 500 stumbled by 1.46%, and the Nasdaq was smacked 1.62% lower.

US markets rebounded yesterday as softer-than-expected wholesale price data eased concerns about inflation. These sentiment swings can be disorienting, but are fairly normal. The information technology sector led the way with a 2.4% surge, which suits us well.

In company news, Amazon shares hit a new record high, buoyed by CEO Andy Jassy's comments on the potential for generative artificial intelligence and more cost-cutting. Nvidia (+4.1%) and Apple (+4.3%) also enjoyed good gains. Elsewhere, Morgan Stanley dropped 5.2% after reports that federal regulators are investigating the bank's wealth-management division because their client take-on procedures may have missed a few money-launderers.

Here's the lowdown, the JSE All-share lost 0.29%, but the S&P 500 rallied by 0.74%, and the Nasdaq gained 1.68%.

US markets took a hit yesterday after higher-than-anticipated US inflation data reinforced the notion that the Federal Reserve won't be quick to reduce interest rates. Inflation seems stuck at 3% but policymakers want 2%. The selloff was broad, with 10 of the S&P 500's sectors in the red, and real estate down the most. Ah well, these issues have been with us for a while.

In company news, Tesco closed up 3.3% after the British grocer reported a big jump in sales and said there were signs of improving consumer sentiment. Elsewhere, Apple ramped up its iPhone production in India, hitting $14 billion worth of assembly there last year, double the prior period. This move signals an intensified effort by the tech giant to expand its manufacturing footprint beyond China. About 1 in 7 iPhones now come from India.

Izolo, the JSE All-share closed up a tiny 0.04%, but the S&P 500 fell by 0.95%, and the Nasdaq was 0.84% lower.

US markets edged higher yesterday, after a challenging session. The S&P 500 fell precipitously soon after the opening bell, but managed to recover and surpass the 5 200 level. Gains from megacaps like Tesla (+2.25%) and Alphabet (+1.28%) helped the cause. Financials and industrials traded lower.

In company news, Nvidia declined by 2% after Intel launched a new artificial intelligence chip, even though it has yet to be proven in the field. Elsewhere, Norfolk Southern stock climbed 1.3% following the railroad operator's agreement to pay $600 million to settle lawsuits stemming from a train derailment in Ohio last year.

In short, the JSE All-share closed up 0.20%, the S&P 500 rose 0.14%, and the Nasdaq was 0.32% higher. Not a bad outcome.

US markets started the week on a quiet note, with major indices little changed yesterday. A solar eclipse across the middle of the US stole the limelight, and both the S&P 500 and the Nasdaq Composite went nowhere. US 10-year bond yields climbed to their highest level since November, at around 4.42%.

In company news, Tesla closed up 4.9% after Elon Musk announced that a self-driving robotaxi would be unveiled on 8 August. Elsewhere, Paramount Global stock fell 7.6% as terms of the deal with Skydance Media were made public. Locally, Canal+ is one step closer to closing the buyout of Multichoice, at the increased price of R125 per share. The French group already owns about 37% of Multichoice.

At the market close, the JSE All-share was up 0.75%, but the S&P 500 fell by a minuscule 0.04%, and the Nasdaq crept 0.03% higher.

US markets ended the week on a positive note following Friday's release of much better-than-expected payroll data. Even though the report shifted expectations of an interest rate cut to September, a robust labour market is good for the economy and company profits, and all eleven sectors of the S&P 500 gained on the day. The broad index still registered a 1% decline for the week, its largest since early January, and the tech-heavy Nasdaq slipped by 0.8%, but Friday's performance offered some respite.

In March, US employers added 303 000 jobs, according to the Labor Department's report, surpassing economists' forecasts of 200 000. The unemployment rate also improved, declining to 3.8% from February's 3.9%, in line with expectations. Increased immigration is keeping wage gains in check.

In company news, Trump Media stock fell 12% on Friday, bringing the total weekly losses to just over 32%, erasing about $2 billion in value after the SPAC merger. Elsewhere, Kyoto-based Towa is up 45% year-to-date or 390% over one year, becoming one of the largest beneficiaries of AI. Towa controls about two-thirds of the world's chip molding equipment market.

On Friday, the JSE All-share closed down 0.79%, but the S&P 500 rose by 1.11%, and the Nasdaq was 1.24% higher.

Yesterday, the JSE had a good day thanks to strong advances from our precious metal miners. In the US, the market started the day with good gains, but by mid-afternoon, those faded. The change in sentiment seemed to be linked to inflation worries, as rising Middle-East tensions pushed oil prices above $90 a barrel.

In company news, McDonald's announced that it was buying out its franchise partner in Israel because sales around the region were falling. They prefer to be seen as apolitical, and focus on their staff and customers. Yesterday's biggest movers in the S&P500 were two food producers, Conagra Brands and Lamb Weston. Very obscure, so we will move right along.

Yesterday the JSE All-share closed up 1.72%, but the S&P 500 sagged by 1.23%, and the Nasdaq flopped by 1.40%. Poor!

US markets were marginally higher yesterday as Fed Chairman, Jerome Powell, reiterated his expectation of some interest rate cuts this year. Just after the market open, service sector inflation data came in lower than expected, which gave sentiment a boost. We've all been obsessed with inflation and interest rate issues for the last two years. To be honest, it's become rather tiresome.

Paramount Global had a good day (+15.0%), on a report that the company has entered exclusive merger talks with Skydance. The stock has been very volatile over the last six months as the company looks for suitors. The biggest decliner was Ulta Beauty (-15.3%), which warned of slowing sales this year. The company operates beauty salons across the US, stocking a wide range of cosmetics and other products. Finally, Disney dropped by 3% after shareholders rejected proposals for a shake-up from activist investor Nelson Peltz.

By the numbers, the JSE All-share closed down 0.45%, but the S&P 500 rose by 0.11%, and the Nasdaq tacked on 0.23%.

Most global markets went down yesterday. Strong economic data and rising commodity prices are shifting expectations about when major central banks will begin cutting interest rates. The current consensus is that the Fed's June meeting is a coin toss; not so long ago it was fairly certain rates would go lower by that stage.

In company news, Phillips 66, an oil and gas company, was up 3.8% thanks to analyst upgrades and upward momentum in the sector. The biggest loser in the S&P 500 was Humana (-13.4%) which fell with other health insurance stocks after the Biden administration declined to raise payments for Medicare Advantage plans.

In summary the JSE All-share index closed down 0.14%, the S&P 500 dropped 0.72%, and the Nasdaq fell 0.95%. Oof.

The first three months of 2024 have already come and gone. The S&P 500 had a very solid quarter, closing 10.2% higher. The so-called "magnificent 7" only contributed a third of that gain, as compared to 2023, where two-thirds of the index's performance was from just those seven companies. Currently, 118 stocks in the S&P 500 are at record highs, and 83% of the companies are above their 200-day moving average. So, the current market strength is broad thanks to strong US economic data.

In company news, 3M was the top gainer (+6.0%) yesterday, as it announced final approval of a $10 billion settlement with US public water suppliers. It is good to see a company being held to account for past mistakes. Reddit dropped 8.9%, as the market finds a level for the social media company after its IPO last week. The share was priced at $34 for the IPO, opened at $47, rose to $74.90 at one point, and is now trading at $45.97.

On Thursday the JSE All-share rose 0.85%. Yesterday the S&P 500 closed down 0.20%, and the Nasdaq closed up 0.11%.