News archive

Yesterday was quiet as traders waited in anticipation for Nvidia's after-market results. The S&P 500 and Nasdaq closed nearly flat, while defensive sectors like healthcare showed modest gains, reflecting a shift toward safer bets in an uncertain environment.

In company news, Nvidia crushed earnings expectations again but the stock response was muted, down 2.5% in late trading. The management team highlighted strong demand for its new Blackwell product line. Elsewhere, big-box retailer Target reported dismal results for its third quarter and the stock plummeted 21.4%. More on that below.

In summary, the JSE All-share was up 0.89% on the day, the S&P 500 was unchanged, and the Nasdaq was just 0.11% lower.

Stocks started in the red yesterday over concerns of an escalation in the Ukrainian war. The fear is that Moscow might get desperate and resort to using nuclear weapons. By mid-morning, the panic attack subsided and markets swung from red to green and continued to head higher. Technology stocks lead the pack.

In company news, Walmart rose by 3% to a new all-time-high yesterday. The retailer reported a 22% increase in e-commerce sales and issued a strong forecast for sales for the rest of the year. Elsewhere, AI server-maker Super Micro Computer climbed 31% after they named a new auditor which should help them stay listed on the Nasdaq. Last month, Ernst & Young resigned abruptly.

In summary, the JSE All-share closed up 0.12%, the S&P 500 rose by 0.40%, and the Nasdaq advanced by a pleasing 1.04%.

After a rough Friday, US markets rebounded yesterday, with the Nasdaq ending five days of losses. It wasn't the most convincing bounce, but we'll take it.

In company news, Tesla was up 5.6% on rumours that Donald Trump will relax self-driving regulations, which will be a boost to the CyberCab development. Uber dropped 5.3% due to the potential for increased competition. Elsewhere, Netflix rose by 2.8% to a new all-time high, thanks to strong viewership of the Jake Paul vs Mike Tyson fight, even though many viewers had issues connecting.

In summary, the JSE All-share closed up 0.66%, the S&P 500 rose by 0.39%, and the Nasdaq ended 0.60% higher.

Stocks opened in the red on Friday, and stayed that way for the whole session. Vaccine makers had a particularly bad day with Pfizer down 4.7% and Moderna down 7.3%, after Trump announced he wants Robert F. Kennedy Jr as the head of Department of Health and Human Services. According to Forbes, he is a vaccine skeptic but has stopped short of adopting the "anti-vaxx" label attributed to him by critics.

In company news, Palantir Technologies jumped 11.1% after announcing that it will move to the Nasdaq on the 26 November. It will likely join the Nasdaq 100, meaning that index trackers will have to start buying its shares. Elsewhere, Applied Materials, a semiconductor equipment manufacturer, dropped 9.2% on weak sales guidance for non-AI chips. Finally, Domino's Pizza rose 1.3% after reports that Warren Buffett was accumulating their shares. Imagine selling Apple stock and using the cash to buy into a company that heats up tomato and cheese?

In summary, the JSE All-share closed up 0.05%, but the S&P 500 flopped by 1.32%, and the Nasdaq nosedived 2.24% lower. Oof, that was not a great way to end the week.

US markets opened in the green yesterday, stayed that way for about 10 minutes, and then headed lower. Data showed that producer price inflation (PPI) was higher than expected and that jobless claims were lower than forecast. Elsewhere, Jerome Powell made a speech, signaling that there's no need for aggressive cutting, because the US economy is holding up. Now the "smart" traders expect the Fed to slow interest rate cuts.

In company news, Disney jumped 6% on strong results, it was up 12% at some point during the day. They reported good subscriber gains in Disney+ and forecast double-digit profit growth for 2026 and 2027. Elsewhere, Hims & Hers, a telehealth company that also flogs counterfeit drugs, fell 24.4% on news that Amazon is expanding their online health offering.

In summary, the JSE All-share edged up 0.04%, but the S&P 500 dropped by 0.60%, and the Nasdaq fell by 0.64%.

US markets were mixed yesterday, with major equity benchmarks losing momentum late in the New York session. Inflation data out early in the day met expectations, resulting in mid-morning gains, but the S&P 500 ended flat.

In company news, Mastercard closed down 1.4% after saying it expects slower growth for the next three years, as it aims to expand its presence in digital payments. Elsewhere, electric vehicle-maker Rivian rose 13.7% after announcing a new joint venture with Volkswagen. Finally, Spirit Airlines crash landed (-59.3%) after canning its deal with Frontier Airlines and heading into bankruptcy proceedings. Hayibo, shem.

Izolo, the JSE All-share was down 0.47%, the S&P 500 rose just 0.02%, and the Nasdaq was 0.26% lower.

US markets softened last night, the S&P 500 and the Nasdaq ended their largest five-day winning streak in a year, after strong post-election gains. Republicans look set to control the House too, and they are known for tax cuts and big spending, so bond yields surged and the US Dollar reached a two-year high.

In company news, Home Depot's stock dipped 1% despite strong sales of stuff to repair houses after disastrous weather conditions in Southern states. Elsewhere, Tyson Foods climbed 6.6% after its chicken segment offset losses in its beef business. Finally, e-commerce platform-provider Shopify announced another strong set of results and rose 21.0%.

At the end of the day, the JSE All-share was down 0.67%, the S&P 500 fell 0.29%, and the Nasdaq was just 0.09% lower.

US markets rose again yesterday, with the S&P 500 crossing 6 000 points for the first time. Did you know that the index first closed above 60 points in July 1959 and above 600 in November 1995? The moral of the story is, own stocks and stay long because time is on your side.

In company news, Tesla continues to surge, up another 8.5% yesterday. Elsewhere, health-management companies Cigna and Humana confirmed that their deal to merge is officially off. Finally, AbbVie shares dropped 12.6% because their trial of a new schizophrenia drug failed.

In summary, the JSE All-share was down 0.41%, but the S&P 500 rose 0.10%, and the Nasdaq was 0.06% higher. Small gains, but a new all-time high in the US.

US markets closed higher on Friday, capping off their best week of the whole year. Investors are feeling optimistic about strong consumer sentiment data, interest rate cuts and incoming President Trump's pro-growth policies. All of those should lead to wider corporate profits next year. The S&P 500 rose for the fourth day in a row, hitting its 50th record high of 2024 and posting a weekly gain of 4.7%.

In company news, Tesla's surge pushed its market value back above the $1 trillion mark. Elsewhere, Under Armour fell 13% despite reporting results that beat expectations, as founder Kevin Plank continues to wrestle with its cost base. Finally, Pinterest shares dropped 14% due to a weak sales forecast for the holiday quarter, as it battles to keep up with larger competitors like Meta Platforms and Snap.

On Friday, the JSE All-share fell 1.02%, but the S&P 500 rose 0.38%, and the Nasdaq rose by a whisker, just 0.09%.

US markets reached new all-time highs last night, buoyed by the Federal Reserve's latest interest rate cut. Jay Powell announced a 25 basis point trim to rates, as expected. The S&P 500 neared the 6 000-point mark, setting its 49th record of the year. Bank stocks calmed down, with a key index slipping 2.7% after a strong 10% rally the day before.

In after-hours trading, Expedia shares rose 5.2% on good earnings but Airbnb fell 4.5%, amidst mixed forecasts for the upcoming holiday season. Finally, Match Group shareholders cried about Tinder's earnings miss last quarter, but cheered up as Hinge beat estimates. Shares still dropped 17.9%. Ghosted.

Here's the lowdown, the JSE All-share was up 0.78%, the S&P 500 rose another 0.74%, and the Nasdaq jumped 1.51% higher. We are long and strong.