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US markets opened lower on shutdown worries yesterday, but managed to end modestly higher. Pharmaceutical shares led the rebound on tariff relief, and gold continued its record-breaking run, touching $3 900 an ounce. The S&P 500 hit its 29th record of the year while the tech-heavy Nasdaq finished just shy of its all-time high.

The weekly ADP report disappointed, showing a loss of 32 000 private-sector jobs versus expectations for gains. The shutdown of US government departments now threatens to delay key Fed data, including Friday's jobs report and October's CPI. They will probably just cut rates anyway, why not.

In company news, Pfizer jumped 6.8% after winning a three-year exemption from White House tariffs, tied to boosting local manufacturing and joining the so-called "TrumpRx" site. The news sparked hopes that peers could cut similar deals, sending Merck up 7.4% and Eli Lilly up 8.2%. Elsewhere, Reddit sank 11.9% on reports that ChatGPT has fully ransacked their library of content, and there's nothing more to scrape.

Here's the lowdown, the JSE All-share closed up 0.66%, the S&P 500 rose another 0.41%, and the Nasdaq was 0.30% higher. First class!

US markets swung back and forth yesterday, before a late rally pushed the major indices into positive territory. The S&P 500 enjoyed its best September in 15 years (historically the worst month of the year for stocks). Nvidia rose 2.6% to a new record, sending its market cap past $4.5 trillion.

In company news, Spotify CEO Daniel Ek is stepping down after nearly 20 years, handing the reins to two longtime lieutenants. Elsewhere, CoreWeave closed up 11.7% after it signed a deal to provide Meta with up to $14.2 billion in computing power to help train its AI models. Lastly, Nike is up 4.5% in after-hours trade thanks to a good set of quarterly numbers.

At the end of another Tuesday, the JSE All-share closed up 0.65%, the S&P 500 rose 0.26%, and the Nasdaq was 0.48% higher. Satisfactory, indeed.

US markets edged higher yesterday. Both the Nasdaq and S&P 500 were up, though gains were capped by government shutdown worries and caution ahead of key jobs data. Nvidia (+2.1%), Uber (+1.1%), and Amazon (+1.1%) were some of the large-cap standout performers.

In company news, New York-based financial services company Jefferies reported record third-quarter revenues. Elsewhere, Google will pay $24.5 million to settle a lawsuit brought by Donald Trump after he was banned on YouTube following the 6 January Capitol riot. Lastly, Boeing is reportedly planning a new single-aisle jet to succeed the 737 MAX. It might be called the 797, but that's not clear.

In short, the JSE All-share closed up 0.51%, the S&P 500 added 0.26%, and the Nasdaq crept 0.48% higher. A good day.

US markets moved higher on Friday after a sluggish start to the session. The major indexes all turned positive as the day went on, snapping a three-day losing streak. Solid inflation numbers earlier in the day offset some wild tariff proposals from the White House.

In company-specific news, Intel rose 4.4% and GlobalFoundries over 8% after rumours that the US hopes to reduce reliance on foreign-made chips. Elsewhere, video game company EA jumped by 14.9% because it's close to a $50 billion deal to go private. Finally, legendary retailer Costco Wholesale beat earnings expectations, but shares lost 2.9% because of slowing same-store sales.

On Friday, the JSE All-share closed up 0.85%, the S&P 500 rose 0.59%, and the Nasdaq was 0.44% higher. Pleasing.

US markets logged their third straight day of declines, despite the release of some good economic data. Second quarter US GDP was revised up to 3.8% from the expected 3.3% and weekly jobless claims eased. Big movers on the day included Oracle, which fell 5.6% after completing some bond sales for its AI push, and second-hand motor dealership CarMax which plunged 20.1%.

In company news, Microsoft restricted some software use by the Israeli military after reports that its products were linked to civilian surveillance. Elsewhere, Starbucks will shut around 1% of its stores and cut 900 jobs as part of a $1 billion restructuring plan under new CEO Brian Niccol. Lastly, Amazon will pay $2.5 billion in penalties and refunds and simplify Prime cancellations to settle an FTC lawsuit.

At the close, the JSE All-share closed down 0.83%, the S&P 500 fell 0.50%, and the Nasdaq was also 0.50% lower. Boo hoo!

US markets lost steam yesterday, with stocks sliding through the session. President Trump's astonishing shift on Ukraine was well received by Europe's defense contractors. In other global news, US Treasury Secretary Scott Bessent said he's ready to extend a $20 billion swap line to Argentina, and to purchase their foreign bonds.

In company news, Tesla jumped 4%, extending its month-long rally to nearly 28% as Elon Musk vowed to take a more hands-on role. Elsewhere, Microsoft is adding Anthropic models to its workplace AI assistant, expanding beyond its reliance on OpenAI. Lastly, L'Oreal is weighing an investment in Giorgio Armani's empire, but is said to only be interested in the profitable beauty arm.

On Tuesday, the JSE All-share closed up 0.69%, and yesterday the S&P 500 fell 0.28%, and the Nasdaq was 0.33% lower. This is fine.

US markets moved steadily higher through the trading session yesterday, closing at fresh record levels. The Nasdaq led gains with Apple (+4.3%), Nvidia (+3.9%), and Tesla (+1.9%) showing the way.

In company news, Pfizer will buy obesity startup Metsera for $4.9 billion as it scrambles to catch up with rivals in the weight-loss drug race. Elsewhere, Walmart will begin home delivery of refrigerated prescriptions. Finally, Porsche slowed by 3.9% on the news that it will delay the rollout of new EV models.

At the close, the JSE All-share closed down 0.14%, the S&P 500 rose 0.44%, and the Nasdaq was 0.70% higher. These are good times.

US markets rose again on Friday to end the week at record highs. The Fed's quarter-point cut could mean that more easing is coming later this year and into 2026. If you are keeping count, it was the S&P 500's 27th high water mark of the year. Uber (+4.0%), Apple (+3.2%), and Tesla (+2.2%) led the daily moves.

In company news, Oracle is reportedly in talks with Meta on a cloud deal worth around $20 billion. Brighthouse Financial jumped 27.2% on reports that it's the target of a buyout led by private equity fund Aquarion Holdings. Finally, educational publisher Scholastic tumbled 12.0% after reporting a big earnings miss.

On Friday, the JSE All-share closed up 0.65%, the S&P 500 rose 0.49%, and the Nasdaq was 0.72% higher. It's been an amazing run.

US markets closed at fresh record highs yesterday as indices opened in the green and stayed there throughout the day. The S&P 500, Nasdaq, Dow, and Russell 2000 all closed at record highs together for the first time since 2021. It's also a feat seen only 25 times in the last 100 years.

In company news, Nvidia rose 3.5% after investing $5 billion in its much weaker rival Intel, and agreeing to co-develop chips for PCs and data centres. Intel shares were up 22.8%. Elsewhere, FedEx jumped 5.5% after reinstating its full-year profit outlook. Lastly, Southern-themed restaurant chain Cracker Barrel slid 7.6% as weak sales guidance showed lingering fallout from its controversial and short-lived logo change.

In summary, the JSE All-share closed up a tiny 0.05%, the S&P 500 rose 0.48%, and the Nasdaq was 0.94% higher. Splendid.

Wall Street wobbled after the Fed's long-awaited rate cut yesterday, but the well-flagged move left markets mostly flat by the end of the session. Both the S&P 500 and the tech-heavy Nasdaq slipped marginally, though optimism over falling rates has recently pushed the two to new highs. If you think about it, we've done well to reach and hold these levels.

The Fed cut rates by a quarter point to 4% yesterday, and signalled two more reductions this year, while projecting slightly stronger 2026 growth and modestly higher inflation next year. They face a difficult balancing act, with both unemployment and inflation a little too high for comfort.

In company news, China ordered firms including Alibaba and ByteDance to halt purchases of Nvidia's RTX Pro 6000D chips, a move US House Speaker Mike Johnson called "counterproductive." Elsewhere, Apple's China iPhone sales fell 6% ahead of the iPhone 17 launch. Reddit is in early talks with Google on a fresh content deal for training its AI. Lastly, Eli Lilly's new diabetes pill beat Novo Nordisk's older rival in its first head-to-head trial.

At the close, the JSE All-share closed up 0.46%, but the S&P 500 fell 0.10%, and the Nasdaq was 0.33% lower. Ok then.

US markets drifted slightly lower yesterday, with traders cautious ahead of the Fed's expected quarter-point cut today. The combination of a slowing economy, weak jobs data and slightly above-average inflation, present a challenge for the monetary authorities. Later today, we might hear hawkish forecasts for the rest of the year.

In company news, Google will invest $6.8 billion over two years to boost the UK's AI economy. Elsewhere, Novo Nordisk is chasing US approval for a higher-dose Wegovy to counter Eli Lilly in the growing obesity market. Lastly, Nestle said chairman Paul Bulcke will also step down early after its CEO was fired over a workplace affair.

At the close, the JSE All-share closed up 0.20%, but the S&P 500 fell 0.13%, and the Nasdaq was 0.07% lower. Ho hum.

US markets pushed higher yesterday to close nicely in the green. Strength in the tech sector saw both the Nasdaq and S&P 500 closing at fresh record highs, on top of last week's strong run. Standout performers were Google (+4.5%), Tesla (+3.6%) and Uber (+3.1%).

In company news, CoreWeave signed a $6.3 billion deal with Nvidia to extend its AI-hosting capabilities. Elsewhere, Corteva fell 5.7% after the Wall Street Journal reported that the agriscience company, formed from parts of Dow and DuPont, will split itself up into smaller bits. Lastly, some deal is afoot to allow TikTok to continue operating in the US.

In summary, the JSE All-share closed up 0.21%, the S&P 500 rose 0.47%, and the Nasdaq was a splendid 0.94% higher. This feels good.

Wall Street wrapped up the week quietly, with the S&P 500 hovering near record levels and the Nasdaq closing at a fresh all-time high. Both indices gained over 1% during the week as investors bet that this week's Fed meeting will deliver a quarter-point rate cut to keep the rally rolling.

In company news, Union Pacific's CEO has been in talks with Trump as the company pushes for regulatory approval of its proposed $72 billion takeover of Norfolk Southern. Elsewhere, Exxon Mobil says it has cracked a new form of graphite that could extend EV battery life by up to 30%. Finally, Freeport-McMoRan lost 2.6% because its Grasberg Block Cave copper mine in Indonesia remains shut down following a serious mudslide.

On Friday, the JSE All-share closed up 0.51%, the S&P 500 fell 0.05%, and the Nasdaq was 0.44% higher. Stay long.

US markets rose again yesterday after the final inflation print before next week's Fed meeting cemented expectations of a rate cut. All the major indices climbed, finishing at fresh record highs. CPI data showed US consumer prices rising 2.9% year-on-year in August, a slight acceleration from July's 2.7%, but exactly in line with economists' forecasts.

In company news, Adobe gained 2.6% after-hours due to a strong revenue outlook, signalling that its big AI bet is starting to pay off. Elsewhere, the US Federal Trade Commission turned its attention to AI's impact on kids, ordering Google, Meta, OpenAI, and others to hand over details on how their tech affects young users. Lastly, Opendoor Technologies rocketed nearly 80% as investors cheered the return of its co-founders to the board, alongside a fresh CEO appointment.

Izolo, the JSE All-share closed up 0.33%, the S&P 500 rose 0.85%, and the Nasdaq was 0.72% higher. Sweet moves!

US markets had a strong start yesterday, although gains faded into the close. Both the S&P 500 and the Nasdaq still notched fresh record finishes. Some large caps rose smartly (like Nvidia +3.8%) and others had a rough day (like Amazon -3.3%).

In company news, from next year, Uber riders will be able to book Blade's helicopters and seaplanes straight from the app, expanding its tie-up with Joby Aviation. Elsewhere, Novo Nordisk is trimming 11% of its workforce as it tries to streamline and close the gap with Eli Lilly in the obesity drug market.

At the closing bell, the JSE All-share closed up 0.35%, the S&P 500 rose 0.30%, and the Nasdaq was just 0.03% higher. On we go.