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US markets squeezed into the green again yesterday, and the S&P 500 reached its 35th all-time high for the year. The index has remained remarkably stable, not dropping by more than 1% in a day since April. The Nasdaq also performed well, with Super Micro Computer, Intel, and AMD all up by over 4%.

In company news, Eli Lilly agreed to buy speciality drug company Morphic Holding for $3.2 billion. Morphic has promising drugs to treat bowel inflammation, and its stock rose 75% after the announcement. In other news, over 2 600 Boeing 737 jets registered in the US will need their oxygen generators inspected. Corning shares jumped by 12% after the company, known for making glass for TV screens and smartphones, increased its sales guidance.

At the close, the JSE All-share was down a tiny 0.02%, the S&P 500 eked out a 0.10% gain, and the Nasdaq was a more respectable 0.28% higher.

US markets rose on Friday to end the week at new highs, boosted by labour market data that reinforced expectations of upcoming rate cuts by the Federal Reserve. The S&P 500 gained 2% for the week, while the tech-heavy Nasdaq added 3.5% in the same period. This has been a purple patch for long-term equity investors.

Jobs data revealed that the US added 206 000 paid positions last month, maintaining a strong hiring trend. The unemployment rate rose to 4.1%, indicating that the job market is cooling slowly. In other words, a Goldilocks update.

In company news, Tesla rose 27% for the week, its best run since January 2023, extending a rally that has erased its losses for the year. Elsewhere, a study has found that using GLP-1 drugs (like Ozempic and Mounjaro) and metformin is associated with a reduced risk of developing certain obesity-related cancers in patients with Type 2 diabetes. Lastly, Boeing has agreed to plead guilty to criminal conspiracy charges after a Justice Department probe found the company didn't stick to an earlier settlement linked to two deadly 737 Max crashes. Under the deal, Boeing could be fined up to $487.2 million, the legal maximum.

On Friday, the JSE All-share closed down 0.44%, but the S&P 500 rose 0.54%, and the Nasdaq strode 0.90% higher.

US markets were closed yesterday for Independence Day so there was minimal activity in financial markets. Traders are now focusing on today's jobs report, which will provide an update on the state of the US labour market. Economists predict that 200 000 jobs were created in June, with the unemployment rate remaining steady at 4%. A weaker report would be market-positive, as it will encourage the Fed to drop rates sooner.

In company news, Samsung shares rose 2.3% after reporting a 15-fold increase in operating profit for the June quarter, driven by a strong recovery in memory chip demand. Meanwhile, the EU has confirmed plans to impose additional tariffs on EVs made in China starting today and lasting for at least four months. Oddly enough, European carmakers mostly oppose the tariffs, fearing they could trigger a two-way trade war with China.

Izolo, the JSE All-share closed up 0.48%.

US markets closed in the green yesterday in a shortened session ahead of today's 4th of July holiday. Labour market data showed that the services sector contracted at the fastest pace in four years. This reignited hopes for potential rate cuts as early as September. As a result, both the S&P 500 and the Nasdaq Composite hit new record highs.

In company news, Paramount Global surged 6.9% after news broke that the deal with Shari Redstone's National Amusements and Skydance, was back on. Meanwhile, Meta's Twitter clone, Threads, hit 175 million active users, and Mark Zuckerberg hinted at the possibility of introducing ads on the platform. Over at BMO, analysts believe Eli Lilly's newly approved Alzheimer's drug could bring in sales of up to $7.1 billion.

Here's the lowdown, the JSE All-share closed up 1.68%, the S&P 500 rose 0.51%, and the Nasdaq was 0.88% higher. Love it!

US markets climbed yesterday on optimism about potential rate cuts. Have you heard that one before? Fed Chair Jerome Powell mentioned that inflation is trending downward so the S&P 500 hit its 32nd record high this year, closing above 5 500 for the first time ever. Gains in megacap stocks propelled the Nasdaq 100 to its 22nd record in 2024, closing above 20 000 points.

In company news, Eli Lilly got FDA approval for its early-onset Alzheimer's drug, Donanemab. Elsewhere, Moderna rose 1% after the US government awarded the company $176 million to develop a bird flu (H5N1 avian influenza) vaccine. Finally, Chewy fell yet another 2.2% as fallout from Roaring Kitty's stake in the company continues to rattle investors. If you know what that last sentence means, you are spending too much time online.

In short, the JSE All-share closed down 0.52%, but the S&P 500 rose 0.62%, and the Nasdaq kept going up, rising another 0.84%.

US markets kicked off the second half of the year with gains. Yay, let's keep it that way! The tech-heavy Nasdaq reached a new high, marking its 21st record close of 2024. Large tech companies led the way, with Tesla (+6.1%), Apple (+2.9%), Microsoft (+2.2%), Broadcom (+2.2%), and Amazon (+2.0%) all sparkling.

In company news, L'Oreal CEO Nicola Hieronimus said the global beauty market would grow by a bit less than 5% this year due to waning demand from Southeast Asia, particularly China. Meanwhile, Renault has committed to cutting electric vehicle battery costs by 20% by improving cell chemistry and fine-tuning production processes. Have you driven an EV? You should give it a try.

At the close, the JSE All-share was up 0.18%, the S&P 500 rose 0.27%, and the Nasdaq marched 0.83% higher.

US markets closed slightly down on Friday after initially gaining almost 1%. Despite this dip, the S&P 500 remained close to its record high, buoyed by a near $6 trillion increase in market capitalisation among its constituents in 2024 - the largest first-half gain on record. With half of 2024 behind us, the S&P 500 has risen 14%, matching last year's standout start, driven largely by the continued surge in AI stocks. Notably, Nvidia has contributed 30% of the S&P 500's total return.

Positive inflation data was the reason for the strong open earlier in the day. The personal-consumption expenditures (PCE) price index increased by just 2.6% in May compared to the same month last year, matching economists' expectations.

In company news, Nike closed down sharply in its largest one-day fall on record after reporting a rather pedestrian revenue outlook for the current financial year. Meanwhile, the biggest US banks have been announcing higher payouts to investors after comfortably passing the Federal Reserve's annual stress test earlier this week.

On Friday, the JSE All-share closed up 0.93%, but the S&P 500 fell 0.41%, and the Nasdaq sagged by 0.71%.

US markets moved slightly higher yesterday, driven by gains in technology companies. Palo Alto Networks (+4.8%), Salesforce (+4.0%), Adobe (+3.4%), Amazon (+2.2%), and Meta (+1.3%) were the standout performers. The tech-heavy Nasdaq was the only index that ended meaningfully higher for the day.

In company news, Nike sank 12.4% in late-trade after the apparel giant missed sales estimates, but beat on profit numbers. Oh dear, not good. Elsewhere, Walgreens Boots Alliance tumbled 22% after slashing its guidance. Spice maker McCormick & Co rose 4.3% after the company posted salty earnings results, absolutely crushing estimates.

In summary, the JSE All-share closed down 0.41%, the S&P 500 rose just 0.09%, and the Nasdaq was a solid 0.30% higher.

US markets closed higher again yesterday, despite some mid-day fluctuations. A rise in big tech pushed the Nasdaq Composite up by half a percent with Tesla (+4.8%), Amazon (+3.9%), and Apple (+2%) flexing their muscles. The S&P 500 hasn't declined by 2% or more in the last 338 days, marking the longest such streak since 2018.

In company news, Micron Technology took an 8% hit in late trading after its 2024 revenue outlook fell short of expectations. Elsewhere, Amazon's surge pushed its market capitalisation past $2 trillion for the first time, making it the fifth US company to hit that milestone. Meanwhile, FedEx delivered a 15% jump to its shareholders after reporting stronger-than-expected sales.

In summary, the JSE All-share closed down 0.41%, but the S&P 500 rose 0.18%, and the Nasdaq was 0.49% higher. Nice work!

US markets closed higher yesterday as tech shares bounced back from a slump earlier in the week. The Nasdaq Composite pushed higher thanks to gains in Nvidia (+6.8%), Alphabet (+2.7%), Tesla (+2.6%), and Meta (+2.3%).

Do you still follow the movements of the old-fashioned Dow Jones Industrial Average (DJIA)? The Nasdaq and Dow have moved in opposite directions in eight out of the last ten trading days, a pattern not seen since a 10-day stretch ending in April 1995.

In company news, Airbus shares dropped 9.4% after it revealed that production challenges will prevent it from meeting its sales and profit targets. Elsewhere, cruise company Carnival surprised analysts with positive quarterly numbers, pushing the stock up by 8.7%.

At the close, the JSE All-share was down 0.85%, but the S&P 500 gained 0.39%, and the Nasdaq bounced 1.26% higher.

US markets closed lower yesterday, continuing their recent pullback. Semiconductor stocks took another hit, with Broadcom down 4.0%, and Nvidia slumping 6.7%. Ouch, you have to be able to take the good with the bad. At least drug stocks held steady, with Amgen (+3.2%), Eli Lilly (+0.7%) and J&J (+0.3%) up. That is why we diversify. The overall market wasn't too bad, as nine out of the eleven S&P 500 sectors ended in the green.

In company news, Apple and Meta closed marginally higher after reports emerged about talks to integrate Meta's generative AI model into Apple's AI system for iPhones, potentially giving Siri a new personality. The top performer in the S&P 500 was fertiliser maker Mosaic Co. The biggest decliner was ResMed (-11.5%), the maker of CPAP machines to treat obstructive sleep apnoea, on the news that Eli Lilly's Zepbound helped treat the condition.

Izolo, the JSE All-share closed up 0.62%, but the S&P 500 retreated by 0.31%, and the Nasdaq stumbled, falling 1.1%.

US markets closed slightly lower on Friday, but the major indices still held on to their third consecutive week of gains. Both the Nasdaq Composite and the S&P 500 were weighed down by a decline in semiconductor stocks like Broadcom (-4,4%), Nvidia (-3.2%) and Micron Technology (-3.2%). Year-to-date, the S&P 500 is up 15.2% and the Nasdaq Composite is up 19.8%.

In company news, Hertz Global jumped 16% after the car rental company increased the size of a bond issuance programme to $1 billion. Elsewhere, Sarepta Therapeutics' stock soared 30% after the FDA expanded approval for its Duchenne muscular-dystrophy gene therapy to include patients aged 4 and older.

On Friday, the JSE All-share closed down 0.38%, the S&P 500 eased 0.16%, and the Nasdaq fell 0.18%.

Stocks pulled back yesterday, after briefly reaching all-time highs. The S&P 500 exceeded 5 500 soon after the market open, but lost momentum as the day wore on. The tech sector cooled off with the Nasdaq Composite declining after a seven-day winning streak. Megacaps like Nvidia (-3.5%) and Apple (-2.2%) led the losses.

In the past three months, the ten largest stocks in the index by market capitalisation, primarily tech giants, have achieved a median gain of 17%. Meanwhile, the rest of the stocks that make up the index have experienced a decline of 1.3%, according to Bloomberg data.

In company news, Gilead Sciences closed up 8.5% after its experimental twice-yearly injection completely prevented HIV cases in women and adolescent girls in Africa, marking the first successful large trial of this promising new drug regimen. Elsewhere, MGM Resorts was 2.9% higher after launching online betting with live dealers at two of its Las Vegas resorts, a first for a casino operator on the iconic Strip. Lastly, Honeywell has agreed to purchase aerospace and defence company CAES Systems from private equity firm Advent International for $1.9 billion.

Yesterday the JSE All-share closed down 0.79%, the S&P 500 eased 0.25%, and the Nasdaq fell 0.79%. Dammit.

US equity and bond markets were closed for the Juneteenth holiday, which marks the end of slavery in America, in 1865. Locally, the JSE all-share index closed higher as the market responded to the inauguration of President Cyril Ramaphosa. What really matters now is his cabinet announcement, and who will be leading key portfolios.

In company news, Amazon announced an additional EUR 10 billion investment in its cloud infrastructure and logistics network in Germany, aiming to expand its data centre network in Europe. This comes on top of their earlier commitment to spend EUR 7.8 billion by 2040 to establish a sovereign cloud business in Germany. Meanwhile, Netflix revealed plans to open two large entertainment venues called "Netflix House" - one at King of Prussia Mall in Pennsylvania and the other at Galleria in Dallas, Texas.

At the close, the JSE All-share was up 1.21%.

US markets climbed yesterday, fuelled by a surge in chipmakers that propelled stocks to another record-breaking session. The S&P 500 marked its 31st record close of the year. The whole information technology sector continued its momentum, securing an eighth consecutive gain, its longest winning streak since November.

In company news, Nvidia closed up 3.5%, becoming the world's most valuable company, surpassing Microsoft and extending its record-breaking surge this year to 181%. Meanwhile, Occidental Petroleum shares rose 1.5% after Warren Buffett's Berkshire Hathaway bought about 2.9 million shares of the oil company between Thursday and Monday, spending roughly $176 million, according to an SEC filing. Finally, Zentalis Pharmaceuticals fell 50.7% after it halted clinical trials of cancer treatments due to two deaths among patients being studied.

In short, the JSE All-share closed up 3.5% on post-election euphoria, the S&P 500 tacked on another 0.25%, and the Nasdaq managed to eke out a gain of just 0.03%. We'll take it.