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US markets cratered on Friday, capping off a two-day meltdown that wiped out over $5 trillion in value, the worst since the pandemic panic of March 2020. The S&P 500 tumbled nearly 6% on the day. Trump's hare-brained country-specific tariffs come into effect on Wednesday, unless he reverses course.

Fed Chair Jerome Powell acknowledged the obvious on Friday: the trade war fallout is going to hurt a lot more than anyone had hoped. That means slower growth and stickier inflation, corporate indecision, and jammed up trade. Oil also got caught in the crossfire, sinking to a four-year low.

In company news, Meta has just unleashed Llama 4, its latest and most powerful AI model yet, built on one of the world's most advanced large language model architectures.

On Friday, the JSE All-share was down 5.26%, the S&P 500 dropped 5.97%, and the Nasdaq was 5.82% lower. Fugly!

US markets took a beating yesterday, with the S&P 500 and Nasdaq posting their biggest daily drops since 2020. Donald Trump's one-man crusade to upend a century of trade liberalisation is not going well. Multinational stocks with complex business operations were hardest hit. For example, Apple fell 9.2%.

John Maynard Keynes' famous quote is "markets can remain irrational longer than you can remain solvent". However, for Vestact clients with their ungeared, high-quality portfolios the opposite is more appropriate: "We can stay solvent longer than Trump can remain retarded."

On a tough day that we will all remember, the JSE All-share was down 3.39%, the S&P 500 dropped 4.84%, and the Nasdaq slumped by 5.97% lower. Painful!

US markets ended higher yesterday ahead of Trump's post-market Rose Garden announcement. Sadly they plummeted after the full horror of his tariff plans became apparent. His team came up with an absurd formula to set sky-high tariffs on most trade partners. US equity futures are now deep in the red, and we expect today to be very difficult.

In company news, Tesla shares initially fell after reporting a 13% drop in first quarter global deliveries year-over-year but rebounded to close up 5.3%. The turnaround came after a Politico report suggested that Trump had told his inner circle that Elon Musk would be stepping back from his role with the administration in the coming weeks. Musk said this was "fake news."

The report for Wednesday was this, the JSE All-share was down 0.94%, the S&P 500 rose 0.67%, and the Nasdaq was 0.87% higher. Today? we can't yet say.

US markets closed in the green yesterday after a rebound in the world's largest tech companies. There's a lot to be worried about lately, with weak economic data and Trump's upcoming tariff tea party in the Rose Garden. Despite all that the S&P 500 somehow erased a 1% intra-day drop.

In company news, Johnson & Johnson tumbled 7.6% after a court rejected its latest attempt to settle those annoying talcum powder-related lawsuits. Elsewhere, recently-listed conservative media outlet Newsmax surged to a new high, and is now 2 000% up since Monday. What the hell?

In summary, the JSE All-share was up 1.48%, the S&P 500 rose 0.38%, and the Nasdaq was 0.87% higher. It's all very confusing.

US markets recovered from a nasty start yesterday, rising steadily during afternoon trading in New York. The first three months of 2025 have been very disappointing, the worst quarter for US stocks since 2022. Tech stocks got whacked over this period, but defensive sectors like healthcare held up better.

In company news, European defence stocks have had a strong year so far, with Germany's Rheinmetall surging 118% year-to-date and France's Thales up 77%. Elsewhere, Toyota fell 1.36% after President Trump told reporters he "couldn't care less" if foreign automakers are forced to raise prices due to tariffs. Finally, down jacket-maker Canada Goose shares sank 3.4% on views that it would be hit by tariffs.

Izolo, the JSE All-share was down 1.04%, but the S&P 500 rose 0.55%, and the Nasdaq was only 0.14% lower. Not too bad.

US markets had a horrible end to the week on Friday, with the S&P 500 down 2%. The usual concerns about mad tariffs, a slowing US economy, and the risk of inflation spooked investors. Today will mark the end of the quarter and the main index is down 5.1% year to date. The tech-heavy Nasdaq is down 10.3% which is obviously much worse.

In company news, CoreWeave's shares had a rocky debut, closing at $40 - right at its IPO price but well below the initial target range of $47 to $55. That's not a hairpiece reseller, it's an AI startup that rents out access to Nvidia chips. Elsewhere, French video game publisher Ubisoft rose 11.4% after announcing it would create a new subsidiary with iconic games such as Assassin's Creed and Far Cry. That offshoot will receive a $1.25 billion investment from China's Tencent.

On Friday, the JSE All-share was down 0.36%, the S&P 500 fell 1.97%, and the Nasdaq was 2.70% lower. Foof!

US markets wandered around aimlessly, before settling lower last night. It was the second down day after the shock announcement of 25% tariffs on all auto imports. GM, Stellantis, and Ford shares continued to tumble, while international carmakers like BMW, Toyota, and Hyundai also took a hit.

In company news, auto tariffs seem to be great news for the car rental industry, so Avis Budget Group soared 20.5% and Hertz popped 22.6%. Elsewhere, AppLovin shares tumbled 20% after short seller Muddy Waters accused the company of violating app store policies. Lastly, fancy athleisure brand Lululemon is down 10% after-hours because guidance came in below expectations.

In summary, the JSE All-share was down just 0.03%, the S&P 500 fell 0.33%, and the Nasdaq closed 0.53% lower. To paraphrase Bertrand Russell, when the crazies are full of conviction, clever people are filled with doubt.

US markets got smacked yesterday as renewed tariff concerns sent traders running for cover. Tariff Man (aka. President Trump) announced a 25% tax on cars imported into the US. The S&P 500 slid over 1% and tech giants buckled. Nvidia and Tesla tumbled over 5.5%.

In company news, GameStop shares jumped 11.7% after the video game retailer and OG meme stock said it would start investing in Bitcoin. Really? Elsewhere, Dollar Tree gained 3.1% after it struck a deal to sell its Family Dollar business. It bought that operation for $8.5 billion in 2019, and now it's being sold for just $1 billion. That was a bad buy.

In summary, the JSE All-share was up 0.24%, but the S&P 500 fell 1.12%, and the Nasdaq was 2.04% lower. Yuck.

US markets closed slightly higher yesterday despite the release of some weak consumer sentiment data. It's to be expected that the US economy would cool after 18 months of strong consumer-driven growth. The S&P 500 gained 0.2% after a choppy trading session.

In company news, UPS shares dropped 5% after a Bank of America analyst cut earnings forecasts for the quarter, citing confusion over their role in implementing Trump tariffs. Elsewhere, Tesla somehow rose 3.4% despite the fact that their EU sales fell for a second straight month.

In summary, the JSE All-share was up 0.82%, the S&P 500 rose 0.16%, and the Nasdaq was 0.46% higher. That's decent.

US markets had one of their strongest sessions this year, with the Nasdaq gaining over 2% as concerns over trade sanctions eased. President Trump hinted that some countries might receive tariff exemptions, boosting investor sentiment. Tesla led the charge, surging 12% in a continued rally from Friday. Big tech also had a strong showing, Amazon and Nvidia climbed over 3%, while Microsoft and Apple posted more modest gains.

In company news, SAP is now the most valuable company in Europe. Its shares have climbed 40% over the past year, thanks to strong growth in cloud sales and AI offerings. The rally pushed them past Novo Nordisk with a valuation of around EUR312 billion. Elsewhere, Bayer tumbled 7.14% after another US-based jury awarded a massive amount to supposed sufferers of side-effects from the company's weedkiller Roundup. Bayer must rue the day that they ever agreed to buy Monsanto.

At the close, the JSE All-share was down 0.60%, but the S&P 500 shot up by 1.76%, and the Nasdaq flew 2.27% higher. Very nice!

US markets ended higher on Friday, with a late-day tech rally driving a rebound. Just five minutes before the close, the S&P 500 erased a 1% drop, finishing in the green. That sort of move is usually the result of short covering before a weekend.

In company news, Boeing gained 3.1% after securing a contract for the next-gen fighter jet supplied to the US Air Force. Elsewhere, Nike slid 5.5% on disappointing forecasts as new management struggles to turn the apparel giant around. Lastly, British Airways' parent company IAG lost 2.9% after a power outage shut down London's Heathrow Airport on Friday.

On Thursday, the JSE All-share was down 0.70%, but on Friday the S&P 500 rose 0.08%, and the Nasdaq was 0.52% higher. It was good to have a sideways week, after three sloppy ones.

US markets closed in the green after the Federal Reserve reaffirmed its outlook for rate cuts this year, downplaying inflation risks from tariffs. They did not cut rates at this meeting, but the tone of their statement was dovish. Well done to Jay Powell and his colleagues.

In company news, Boeing's share price jumped 6.8% after its CFO reassured investors that its business turnaround is on track. Elsewhere, Vitol is set to acquire stakes in West African oil and gas assets from Italy's Eni. Finally, Intel's five-day winning streak ended but its stock price has picked itself off the floor after the appointment of a new CEO.

At the closing bell, the JSE All-share was up 1.41%, the S&P 500 rose 1.08%, and the Nasdaq was 1.41% higher. Solid!

US markets ended lower yesterday, spoiling a two-day rebound, as hotter-than-expected import price data weighed on sentiment. Big tech bore the brunt of the downturn, with Nvidia dropping 3.4% despite unveiling plans to extend its AI dominance into robotics and desktop systems with next-generation Vera Rubin chips. They are named after the astronomer who pioneered work on galaxy rotation rates and dark matter.

In company news, Apple lost its appeal at Germany's top civil court, meaning it will remain under stricter antitrust oversight alongside other major US tech firms. Elsewhere, coal miner Peabody Energy gained 6.1% after Trump said that he's "authorizing my Administration to immediately begin producing Energy with BEAUTIFUL, CLEAN COAL. " Lol.

In short, the JSE All-share was up 0.42%, but the S&P 500 fell 1.07%, and the Nasdaq sagged by 1.71%. Shame, that's not good.

US markets rose for a second day, with industrial and energy shares firming. Monthly retail sales data, though mixed, reassured investors that consumer spending isn't collapsing. Over 90% of S&P 500 companies gained, with Intel, GE Vernova, and Domino's Pizza among the standouts. Trump is busy with deportations and Putin, so tariff concerns might take the back seat for a few days, allowing equities to bounce back from oversold levels.

In company news, Berkshire Hathaway increased its stakes in five of Japan's biggest trading houses, including Sumitomo, Mitsubishi, and Mitsui, to an average holding of about 9.3%. Elsewhere, PepsiCo is acquiring prebiotic soda brand Poppi for $1.95 billion, betting on the growing demand for gut-friendly beverages as traditional sugary drink sales stagnate. Sounds good, don't you think?

At the close, the JSE All-share was up 0.69%, the S&P 500 rose 0.64%, and the Nasdaq was 0.31% higher. A decent day, we will take it.

US stocks bounced back on Friday, trimming their losses as fears of a government shutdown eased and no new trade war surprises emerged. Tech stocks led the rebound, with the Nasdaq jumping 2.6% on Friday, narrowing its weekly drop to 2.4%. The S&P 500 gained 2.1% for the day, ending the week down 2.3%. Yikes, it's still a sh1tshow out there.

In company news, consumer-driven names have struggled in recent weeks, with airlines like Delta and United, casino giant Caesars, Live Nation, Expedia, and Ralph Lauren all dropping at least 23% from their recent peak. Elsewhere, Peloton rose by 16.1% after analysts at Canaccord Genuity said the stationary bike company has reached "a turning point." That makes no sense, lol.

On Friday, the JSE All-share was up 0.97%, the S&P 500 rose 2.13%, and the Nasdaq was 2.61% higher. Splendid. We need more days like that.