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Market Scorecard
US markets played catchup with global markets yesterday. All major indices had a strong close by the end. One of the big movers was Facebook, 'The Zuck' staying cool under pressure. Investors liked what they heard, pushing the stock up over 4.5%.
Yesterday the JSE All-share closed up 1.17%, the Dow closed up 1.79%, the S&P 500 closed up 1.67%, and the Nasdaq closed up 2.07%.
Our 10c Worth
One thing, from Paul
Did you see Facebook CEO Mark Zuckerberg's testimony before the US Congress last night? He answered Senators' questions for almost five hours.
I thought that he did an incredible job! He was genuinely apologetic about the data privacy breaches, humble about Facebook's weaknesses and direct about the company's business model. He made the point many times over that Facebook users have the ability to manage their own privacy settings. He was also humorous, confident, accurate and obviously proud of what he and his team have achieved.
Remember, Facebook was established in 2004, just 14 years ago, in Zuckerberg's dorm room at Harvard. Today it is one of the world's most profitable and valuable companies. That's an incredible achievement, and he is only 33 years old - This short video from Bloomberg shows the best moments of the hearing.
Byron's Beats
I am seeing more and more companies deploying renewable energy as their power source. Companies like Google and Apple claim to be almost 100% green with their facilities around the globe. It makes sense, renewable energy is just that, renewable. These large tech businesses have oodles of cash to work with. Putting money into infrastructure which creates a real return is a smart move. It feels nice to save the environment but financial incentives is what will really kick the revolution into gear.
In SA we are starting to see more and more corporates go this route. It makes even more sense to take the plunge on the back of Eskom's ridiculous tariff increases amidst horrendous mismanagement of the business. Now that the government's renewable energy programme is back on track we should see good progress in renewable production. Ironically Eskom's mismanagement might turn out to be a positive outcome for the environment. As for Eskom's future? That looks dirty.
Michael's Musings
Personal experience tells me that once you join either the Apple or the Android ecosystem, it is very difficult to change allegiances. Each platform has their pros and cons, and overtime you get used to the nuances of the platform that you use.
The biggest reason for people not wanting to change though, is due to the already purchased apps in your respective ecosystem. When I got my new iPhone, all I had to do was put it next to my old iPhone, type in a password and then 15-minutes later all my information had been transferred. Quick and easy. I don't even want to think of the extra effort if I had bought an Android phone.
With that in mind, having Apple as the most owned phone among teens, bodes well for future iPhone sales - Over 80% of teenagers prefer iPhone to Android - and that's great news for Apple
Bright's Banter
Yesterday was Equal Pay Day, which means that women had to work the entire of 2017 and up until yesterday 10th April 2018 to earn the same as what men in the same role earned in 2017.
This gap is closing but very slowly. In the US for example, women now make 80.5 cents for every dollar men make, a change from 79.6 cents the previous year.
The graph below shows where Equal Pay is considered most important.
You will find more infographics at Statista
Linkfest, Lap it Up
This car was first designed for the video game Gran Turismo, it has now come to life - Audi's 815-horsepower e-tron concept is a video game car come to life.
This is great milestone for the globes largest listed company. Apple says that by going the renewable route, they are not spending anymore than they would have if they stuck with fossil fuels - Apple says all of its worldwide facilities are now 100 percent powered by clean energy.
This is an exciting milestone from another company that we own for clients. This segment from Booking.com is direct competition to AirBnB - Booking.com Announces Milestone of Five Million Reported Listings in Homes, Apartments and Other Unique Places to Stay
Vestact in the Media
Michael gets a mention in this Bloomberg piece on Steinhoff - Steinhoff Says Payments to Ex-Chairman Broke Company Rules.
Signing off
Today has been quiet so far. Asian markets are bobbing around looking for direction. Bloomberg used the phrase, "struggled for direction". Zuckerberg has another day in congress today, where he will read a prepared statement. Data out today: CPI from both China and the US. Then the FOMC minutes will be released at 20:00 our time, which people will read closely to get a 'better feel' for what The Fed will do next.
Sent to you by Team Vestact.