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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.

US markets dipped yesterday, marking the second consecutive day of declines for all three major indices. Nvidia was the standout, surging 9.3% after impressive quarterly results. The S&P 500 fell the most yesterday, with ten out of eleven sectors down. Only the information technology sector managed a modest 0.6% gain.

In company news, the US Justice Department has sued to break up Live Nation, alleging that their Ticketmaster subsidiary illegally inflated concert ticket prices and harmed artists. We suspect that ticket resellers might be the real issue. Live Nation shares fell 7.8% on the news. Meanwhile, Amazon announced a $17 billion investment in Spain to expand its cloud business across Europe. Lastly, Apple is contesting a $1.9 billion fine from the European Union, which accuses the company of stifling competition from music streaming rivals like Spotify.

At the end of the day, the JSE All-share closed down 0.67%, the S&P 500 shed 0.74%, and the Nasdaq was 0.39% lower.

US markets cooled off yesterday after minutes of a recent Fed meeting revealed concerns about persistent inflation, casting doubt on when officials might cut interest rates. All major indices closed down, with energy and utilities leading the losses.

In company news, Nvidia surged 6% after-hours thanks to blowout revenue numbers and a stronger-than-expected second-quarter outlook. The chipmaker also announced a 10-for-1 share split and a 150% increase in its dividend to 10 cents per share (still pathetic). Meanwhile, big-box retailer Target fell 8% after reporting its fourth straight quarter of declining sales.

In summary, the JSE All-share closed down 0.40%, the S&P 500 shed 0.27%, and the Nasdaq was 0.18% lower.

US markets were up yesterday. The S&P 500 hit another record high, its 24th this year, while the Nasdaq also closed at a new high. Notable performers included First Solar (+8%), Tesla (+6.7%) and Eli Lilly (+2.6%). All three major indices have gained over 5.4% this month, driven by a strong earnings season and lower inflation. Beautiful!

In company news, Macy's rose 5.1% after increasing its profit forecast for the year. In contrast, Lowe's dropped 1.9% following a report of declining sales. Newly-listed Finnish company Amer Sports posted better-than-expected sales and profits, largely driven by its (badly-spelled) Arc'teryx brand, but its shares fell 7.9%.

Here's the lowdown, the JSE All-share closed down 0.33%, but the S&P 500 rose 0.25%, and the Nasdaq was 0.22% higher.

US markets kicked off the new week on a positive note. The tech-heavy Nasdaq Composite closed at a new all-time high, driven by gains in Nvidia (+2.5%), Netflix (+3.2%), and Applied Materials (+3.7%). The S&P 500 also ended slightly in the green, contributing to the positive market sentiment.

In company news, Palo Alto Networks tumbled 8.7% after-hours following a soft billing outlook. Zoom Video Communications also dipped 1% in late trade after reporting underwhelming numbers. Finally, Tencent suspended Dungeon & Fighter Mobile within an hour of its Chinese debut due to unspecified server problems. This was one of 2024's most anticipated games.

In summary, the JSE All-share closed up 0.68%, the S&P 500 rose 0.09%, and the Nasdaq was 0.65% higher. Sweet moves.

On Friday, US markets drifted aimlessly. The S&P 500 edged higher, driven by energy stocks, while the tech-heavy Nasdaq Composite dipped slightly. However, the weekly performance was strong, with the S&P 500 gaining 1.3% and the Nasdaq advancing 1.7%.

In company news, Richemont shares soared 5.3% after the luxury conglomerate reported sales that were better than expected. Elsewhere, GameStop fell 20% on Friday after the meme stonk reported slowing sales and announced plans to sell 45 million additional shares. The rally earlier in the week was clearly just driven by hype. A classic pump and dump, how absurd!

On Friday, the JSE All-share closed up a tiny 0.03%, the S&P 500 rose 0.12%, and the Nasdaq was 0.07% lower.

Yesterday, US markets closed slightly lower. The most notable achievement was the old-school Dow Jones Industrial Average crossing 40 000 for the first time ever. It's up nearly 40% from its lows in September 2022 and has more than doubled since May 2020, amidst the tumult of the Covid-19 pandemic.

In company news, farm equipment-maker Deere dropped 4.7% after revising its 2024 guidance downwards. Conversely, Walmart surged 7% to reach new highs as it surpassed quarterly earnings and revenue estimates, largely driven by affluent shoppers using its online platform. Finally, Take-Two Interactive dipped 2.5% in after-hours trade due to decreased net bookings and the postponement, again, of its Grand Theft Auto VI release to 2025.

In short, the JSE All-share closed up 0.19%, the S&P 500 fell 0.21%, and the Nasdaq closed 0.26% lower.

Wednesday saw another strong performance from US markets, with all three major indices closing at record highs. This followed a CPI report indicating a slight easing of inflation in April, suggesting that price pressures might be stabilising. Leading the gains in the S&P 500 were tech sector giants such as AMD (+4.3%), CrowdStrike (+4.1%), Nvidia (+3.6%), and biotech giant Eli Lilly (+3%).

In company news, Cisco surged 5% in late trading after reporting better-than-expected earnings and providing upbeat guidance. Netflix revealed that its monthly active users for its ad-supported subscription plan skyrocketed to 40 million from just 5 million a year ago. Lastly, Boeing may face criminal prosecution after the US Justice Department found that the company breached a deferred-prosecution agreement related to two fatal crashes five years ago.

At the close, the JSE All-share was up 0.93%, the S&P 500 rose 1.17%, and the Nasdaq was 1.40% higher. Wow, epic moves!