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US markets had another strong session, with large technology companies pushing both the S&P 500 and the Nasdaq Composite to new record highs. The S&P 500 has now reached 30 all-time highs this year. Year-to-date, the S&P 500 is up 15.4%, while the Nasdaq Composite has gained 20.9%. It's been a tremendous performance.

In company news, Tesla rose 5.3% after getting approval to test its advanced driver-assistance system on some streets in Shanghai. Meanwhile, Apple has discontinued its Buy Now Pay Later loan services just a year after launch, likely signalling a step back from its move into this crowded financial services space. Apple Pay remains a key feature on all iPhones. Finally, another of the notorious "shitcos", AMC Networks, plummeted 35.1% after issuing another $125 million of debt.

On Friday, the JSE All-share closed up 0.88%, then took the day off yesterday. Last night the S&P 500 rose 0.77%, and the Nasdaq powered 0.95% higher. Boom!

US markets rose for a fourth day, thanks to US producer prices dropping. Expectations were for a rise so this was really good news. Lower producer prices usually leads to lower inflation for the consumer. The market is now pencilling in two rate cuts from the Fed this year.

In company-specific developments, Tesla closed 3% higher on the news that Elon Musk's pay package has been approved. A judge in Delaware still needs to approve the scheme though. The best performer yesterday was server manufacturer Super Micro Computer (+12.4%), which jumped along with other AI stocks after strong results from chipmaker Broadcom. Virgin Galactic fell 14.28% after the company announced a 1-for-20 reverse stock split, a necessary evil in order to remain listed on the NYSE. At this rate, they'll never get off the ground.

Yesterday the JSE All-share closed down 0.87%, but the S&P 500 rose 0.23%, and the Nasdaq closed up 0.34%. Solid!

Global markets rallied again yesterday after US inflation slowed to its lowest level in over three years. US CPI rose by only 3.3% versus the market expectation of 3.4%. Stocks and bonds jumped, and the US Dollar got weaker. Later in the day, the US Fed reaffirmed the market's expectation of a rate cut towards the end of the year. We've been waiting for these developments, and now we feel pretty good.

In company news, Oracle had an excellent day (+13.3%) thanks to better than expected results and strong cloud business forecasts. Apple maintained the previous day's momentum, closing up another 2.9%, and bringing it to level pegging with Microsoft's market cap.

Yesterday the JSE All-share closed up 1.28%, the S&P 500 advanced 0.85%, and the Nasdaq jumped 1.53%. All-time highs again, thank you very much.

US markets were mixed yesterday. Many stocks were red, but thanks to a surge in Apple's share price, both the S&P 500 and the Nasdaq managed to close in the green, and at new record highs. Apple shot up 7.3%, adding over $200 billion in market cap, and is now only $40 billion behind Microsoft.

In company news, Paramount Global had a terrible day, falling 7.8% after a merger deal with Skydance was called off. This Paramount saga has been going on for months, an endless dance with multiple suitors, and now it all seems for nothing. Boeing also struggled (-2.4%), after announcing the sale of just four aircraft in May. Boeing used to be known for its engineering prowess, but now it's known for taking shortcuts. A tarnished reputation is hard to repair.

Yesterday the JSE All-share closed down 0.15%, but the S&P 500 rose 0.27%, and the Nasdaq charged higher by 0.88%.

US markets rose in a quiet trading session yesterday, with the S&P 500 and the Nasdaq Composite closing at fresh record highs. The top performers were Broadcom (+2.4%), Meta (+2.0%), Eli Lilly (+1.8%), and Amazon (+1.50%). Year-to-date, the S&P 500 is up 13.0% and the Nasdaq Composite is up 16.4%. That's excellent.

In company news, Nvidia successfully executed its 10-for-1 share split, so don't worry when you see the shares trading at $122 because you now have 10 shares for each one you held before. Apple dropped 1.9% despite unveiling new AI features for their forthcoming iOS 18, iPadOS 18, and MacOS Sequoia software platforms. There will also be a partnership with Sam Altman's OpenAI.

At the end of the day, the JSE All-share closed down 0.86%, but the S&P 500 rose 0.28%, and the Nasdaq was 0.35% higher.

Markets slipped and bond yields rose after a surprisingly strong US jobs report on Friday. Traders were reassessing their expectations for a September Fed rate cut, opening the door to the possibility that cuts might only start next year. Despite this, all major indices posted weekly gains to start June.

US employers added 272 000 jobs in May, breezing past economists' expectations of 180 000, coupled with higher than expected wage increases, indicating that the economy remains strong despite elevated interest rates. The unemployment rate increased to 4% presenting a mixed picture of a labour market that is cooling but still hotter than anticipated.

In company news, GameStop shares plummeted 39.4%, despite Roaring Kitty's YouTube stream which attracted over 650 000 views, making it the largest finance stream ever. The video game retailer's surprise quarterly earnings report showed narrowing losses, but sales declined by 29%. In other news, Crowdstrike is up 5.4% in after-market trade on the news that it will be added to the S&P 500, when the index rebalances later this month.

On Friday, the JSE All-share closed down 0.35%, the S&P 500 fell 0.11%, and the Nasdaq was 0.23% lower.

US markets went sideways last night, hovering close to their recent record highs. Both the S&P 500 and the Nasdaq Composite experienced tiny declines, with standout performances from companies like Lululemon (+4.8%), Uber (+4.7%), JM Smucker (+4.6%), Salesforce (+2.6%), and Amazon (+2.1%) offsetting declines elsewhere.

In company news, Instacart shares surged 9.1% after announcing a $500 million share buyback, its third since listing, bringing the total to over 10% of its outstanding stock. Meanwhile, Lyft closed up 1% after the ride-hailing company reported a positive outlook for gross bookings and margin expansion. Lastly, the bottom dropped out of Victoria's Secret (down 6.4%).

Izolo, the JSE All-share closed up 0.38%, the S&P 500 fell a tiny 0.02%, and the Nasdaq was 0.09% lower.

US markets ended on a high note yesterday, with the S&P 500 hitting its 25th record close of the year, and the Nasdaq notching its 13th new high. Technology giants like Nvidia (+5.2%), Broadcom (+6.2%), Applied Materials (+5.3%), Meta (+3.8%), and Netflix (+3.0%) were the primary drivers of these gains.

In company news, Alphabet has appointed former Eli Lilly finance chief Anat Ashkenazi as its new CFO, replacing Ruth Porat, who announced her departure plans last year. Powerful women at the top of the business world. Elsewhere, Lululemon shares jumped 9.7% after-hours as the athleisure company reported earnings and an outlook that exceeded market expectations. They make very nice tights.

Here's the lowdown, the JSE All-share was unchanged, the S&P 500 rose 1.18%, and the Nasdaq powered 1.96% higher. What can we say? Things are going very well for equity investors.

US markets closed slightly higher yesterday after data revealed that US job openings dropped to a three-year low of 8.1 million in April. The S&P 500 climbed for the third day in a row, pushing its annual gain to 11.5%, while the Nasdaq Composite is now up 14.1% for the year. We are not complaining.

In company news, CrowdStrike is up 6.8% after-hours as the cloud security giant reported revenue and earnings that beat the street's expectations. Elsewhere, Novelis, an aluminum recycling company backed by Hindalco, has postponed its US listing due to "unfavourable" market conditions.

At the close, the JSE All-share was off 1.17%, but the S&P 500 rose 0.15%, and the Nasdaq was 0.17% higher.

US markets ended higher yesterday despite data indicating a decline in factory activity. Investors appear to be waiting for additional data, such as Friday's crucial jobs report, to gain more insight into the economic outlook. The S&P 500 turned positive in the final minutes of trading, as a rally in big tech overshadowed a drop in energy producers.

In company news, Nvidia shares climbed another 4.9% after unveiling a new chip generation to fuel the ongoing AI development surge. Meanwhile, GameStop closed up 21%, after being up as much as 90%, as "Roaring Kitty" revealed what seemed to be a $116 million stake in the video game retailer. AP Moller-Maersk, a bellwether for global trade, upped its full-year profit forecast. The company said congestion in the Red Sea is causing disruption in global supply lines, leading to higher freight rates.

In short, the JSE All-share closed up 1.36%, the S&P 500 eked out a 0.11% gain, and the Nasdaq was 0.56% higher. We are trundling ahead.

US markets had a mixed session on Friday, with a pleasing rally late in the day. The S&P 500 closed in positive territory, buoyed by gains in the energy, real estate, and utility sectors, and the Nasdaq ended flat. Despite recent pullbacks in technology stocks, both indices finished May on a high note. The Nasdaq gained 6.9% for the month.

In company news, Gap surged 29% after the clothing retailer posted strong results across all its brands and raised its sales and profit forecasts for the current fiscal year. Elsewhere, Trump Media & Technology Group fell 5.3% after The Donald was found guilty on all counts in his hush-money case on Thursday. Finally, Boston Beer Company shares gained 21% on reports that the company may sell itself to Suntory.

On Friday, the JSE All-share closed down 0.59%, the S&P 500 gained 0.80%, and the Nasdaq was flat.

US markets slid yesterday and ended in the red, thanks to a selloff in the technology sector. Big names such as Adobe (-6.6%), Oracle (-5.4%), Nvidia (-3.8%), and Microsoft (-3.4%) led the decline. The damage was quite contained, and nine out of the S&P 500's other eleven sectors actually posted decent gains for the day.

In company news, Salesforce ended the day 19.7% lower after posting quarterly numbers that the market didn't like. ServiceNow was down 12% in tandem. Elsewhere, Chinese carmaker Nio closed up 9.5% in New York as deliveries are expected to top estimates by a large margin. Dell dropped 17.8% after-hours, even with good revenue and earnings numbers as AI-orientated servers flew off the shelves, but its outlook was conservative.

At the end of the day, the JSE All-share closed down 1.80%, the S&P 500 lost 0.60%, and the Nasdaq was 1.08% lower. Given the epic run from the technology sector in recent times, a little "profit taking" seems reasonable.

US markets fell on Wednesday as bond yields reached their highest level in a month. All eleven sectors of the S&P 500 were in the red, and the tech-heavy Nasdaq Composite also dipped from the record high it hit the day before. The S&P 500 remains up 10% for the year, with a 4.6% gain in May alone.

In company news, Salesforce is down 16% after-hours as the software company issued earnings that were in line but its second-quarter outlook missed expectations. Elsewhere, ConocoPhillips is down 3% after it offered to acquire Marathon Oil, which closed up 8.4%. Meanwhile, America Airlines tumbled 14% after the carrier cut its revenue outlook as operating margins dropped.

On Tuesday, the JSE All-share closed down 0.44%. Yesterday, the S&P 500 shed 0.74%, and the Nasdaq was 0.58% lower.

US markets were closed yesterday for Memorial Day. Trading resumes today, but equity strategists may wait for Friday's release of personal consumption expenditures (PCE) data before getting too excited. As you know, inflation numbers offer insights into future central bank actions.

This week sees a major change in the US market settlement process, with the shift to a shorter cycle known as T+1. Starting today, trades in stocks, bonds, and exchange-traded funds will be settled in one business day. For Vestact clients, it means if you do a sale today, we can send you your money tomorrow. Amazing!

In company news, GameStop is up 12.9% after completing its recent book build. The company sold all the shares it had registered, raising $933.4 million. This offering was launched following a meme stock rally last week. Tech stocks in China gained as major Chinese state banks said they will put a combined 114 billion yuan ($15.7 billion) into a semiconductor investment fund.

Yesterday, the JSE All-share closed down 0.29%, and US markets were closed.

Technology stocks boosted the S&P 500 and Nasdaq on Friday, concluding a turbulent but positive week. Both major indices extended their winning streaks to five weeks. The leaders on the day included Qualcomm (+4.3%), AMD (+3.7%), Tesla (+3.2%), Meta (+2.7%) and Nvidia (+2.6%).

In company news, Intuit dropped 8.3% after the company reported a decline in the number of people using the free version of its TurboTax product. Elsewhere, Deckers Outdoor surged 14% as the maker of Ugg boots and Hoka shoes stomped all over Wall Street's sales and profit expectations.

On Friday, the JSE All-share closed up 0.25%, the S&P 500 gained 0.70%, and the Nasdaq was 1.10% higher. A good final outcome, that's what counts.