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US markets ended the week on a positive note following Friday's release of much better-than-expected payroll data. Even though the report shifted expectations of an interest rate cut to September, a robust labour market is good for the economy and company profits, and all eleven sectors of the S&P 500 gained on the day. The broad index still registered a 1% decline for the week, its largest since early January, and the tech-heavy Nasdaq slipped by 0.8%, but Friday's performance offered some respite.

In March, US employers added 303 000 jobs, according to the Labor Department's report, surpassing economists' forecasts of 200 000. The unemployment rate also improved, declining to 3.8% from February's 3.9%, in line with expectations. Increased immigration is keeping wage gains in check.

In company news, Trump Media stock fell 12% on Friday, bringing the total weekly losses to just over 32%, erasing about $2 billion in value after the SPAC merger. Elsewhere, Kyoto-based Towa is up 45% year-to-date or 390% over one year, becoming one of the largest beneficiaries of AI. Towa controls about two-thirds of the world's chip molding equipment market.

On Friday, the JSE All-share closed down 0.79%, but the S&P 500 rose by 1.11%, and the Nasdaq was 1.24% higher.

Yesterday, the JSE had a good day thanks to strong advances from our precious metal miners. In the US, the market started the day with good gains, but by mid-afternoon, those faded. The change in sentiment seemed to be linked to inflation worries, as rising Middle-East tensions pushed oil prices above $90 a barrel.

In company news, McDonald's announced that it was buying out its franchise partner in Israel because sales around the region were falling. They prefer to be seen as apolitical, and focus on their staff and customers. Yesterday's biggest movers in the S&P500 were two food producers, Conagra Brands and Lamb Weston. Very obscure, so we will move right along.

Yesterday the JSE All-share closed up 1.72%, but the S&P 500 sagged by 1.23%, and the Nasdaq flopped by 1.40%. Poor!

US markets were marginally higher yesterday as Fed Chairman, Jerome Powell, reiterated his expectation of some interest rate cuts this year. Just after the market open, service sector inflation data came in lower than expected, which gave sentiment a boost. We've all been obsessed with inflation and interest rate issues for the last two years. To be honest, it's become rather tiresome.

Paramount Global had a good day (+15.0%), on a report that the company has entered exclusive merger talks with Skydance. The stock has been very volatile over the last six months as the company looks for suitors. The biggest decliner was Ulta Beauty (-15.3%), which warned of slowing sales this year. The company operates beauty salons across the US, stocking a wide range of cosmetics and other products. Finally, Disney dropped by 3% after shareholders rejected proposals for a shake-up from activist investor Nelson Peltz.

By the numbers, the JSE All-share closed down 0.45%, but the S&P 500 rose by 0.11%, and the Nasdaq tacked on 0.23%.

Most global markets went down yesterday. Strong economic data and rising commodity prices are shifting expectations about when major central banks will begin cutting interest rates. The current consensus is that the Fed's June meeting is a coin toss; not so long ago it was fairly certain rates would go lower by that stage.

In company news, Phillips 66, an oil and gas company, was up 3.8% thanks to analyst upgrades and upward momentum in the sector. The biggest loser in the S&P 500 was Humana (-13.4%) which fell with other health insurance stocks after the Biden administration declined to raise payments for Medicare Advantage plans.

In summary the JSE All-share index closed down 0.14%, the S&P 500 dropped 0.72%, and the Nasdaq fell 0.95%. Oof.

The first three months of 2024 have already come and gone. The S&P 500 had a very solid quarter, closing 10.2% higher. The so-called "magnificent 7" only contributed a third of that gain, as compared to 2023, where two-thirds of the index's performance was from just those seven companies. Currently, 118 stocks in the S&P 500 are at record highs, and 83% of the companies are above their 200-day moving average. So, the current market strength is broad thanks to strong US economic data.

In company news, 3M was the top gainer (+6.0%) yesterday, as it announced final approval of a $10 billion settlement with US public water suppliers. It is good to see a company being held to account for past mistakes. Reddit dropped 8.9%, as the market finds a level for the social media company after its IPO last week. The share was priced at $34 for the IPO, opened at $47, rose to $74.90 at one point, and is now trading at $45.97.

On Thursday the JSE All-share rose 0.85%. Yesterday the S&P 500 closed down 0.20%, and the Nasdaq closed up 0.11%.

After three down days, US markets rebounded yesterday. Apple had a strong session, up 2.1%, recovering most of its losses this week after the announcement of a DOJ antitrust case.

In company news, Enphase Energy (+9.6%) was the best performer. The maker of micro-inverters and batteries benefited from a good day for renewable energy companies. The stock is still down around 40% over the last year. Arista Networks (-3.2%) was the worst performer after its founder, Andy Bechtolsheim, settled an SEC insider trading case. Weirdly, the case had nothing to do with Artista shares but a previous company founded by Bechtolsheim. Arista Networks is a $90 billion business that most people have never heard of.

Yesterday the JSE All-share closed up 0.41%, the S&P 500 rose 0.86%, and the Nasdaq was also higher by 0.51%.

US markets closed in the red yesterday, for the third day in a row. The moves have been rather muted, as if the market is looking for the next big piece of significant data.

In company news, spice-maker McCormick enjoyed a tasty 10.5% gain yesterday thanks to better than expected quarterly numbers. UPS went in the other direction, dropping by 8.2% after releasing a muted long-term strategic update. This was the opposite reaction to FedEx, who topped the gainers a few days ago. As we said then, delivering parcels is a tough business!

At the closing bell the JSE All-share was up 0.44%, but the S&P 500 slipped by 0.28% and the Nasdaq dropped by 0.48%.

There was not much going on yesterday, so both US and local markets bumbled along. Bloomberg suggested that traders were uninspired because they are waiting for the US PCE inflation reading on Friday. The Fed is central to global financial markets, and they are keen to see the PCE number going down. A surprise reading (higher or lower) on Friday could result in some market volatility.

In company news, server-maker Super Micro jumped 7.2% thanks to a strong buy rating from JP Morgan, the company is expected to benefit from the current AI boom. Take-Two was at the other end of the spectrum, down 4.1% on the news that its highly-anticipated Grand Theft Auto VI video game will be delayed.

In summary, the JSE All-share inched up 0.04%, the S&P 500 dropped 0.31%, and the Nasdaq closed down 0.27%. Lacklustre, to say the least.

US markets were mixed on Friday but still posted strong weekly gains, with the S&P 500 and Nasdaq up 2.3% and 2.9% respectively. The S&P 500 is up around 30% since the October 2023 lows - a very good showing for only five months. Can you remember what the market was fretting about back then? No, and neither can we. Well done if you stayed fully invested.

In company news, the athleisure sector had a terrible day on Friday. Lululemon dropped 15.8% and Nike dropped 6.9%, as both companies said they expected weak sales in the months ahead. Similar companies sold off in sympathy, with Under Armour down 3%, On Holdings off 2.5%, and VF Corp 3.1% lower. FedEx was the biggest large-cap winner on Friday, up 7.3% after reporting expanded profit margins. That stock is still down from its 2021 highs though, because low-margin, high-pressure logistics services is a very tough industry.

In summary the JSE All-share closed up 1.15%, the S&P 500 slipped by 0.14%, and the Nasdaq moved 0.16% higher.

US markets hit new highs yesterday after traders bet that the cost of borrowing will come down soon. On Wednesday, the Fed kept its benchmark rate unchanged but signalled a few cuts later this year. All three major indices rose to new records simultaneously for the first time since November 2021. Great stuff!

In company news, Apple sank by 4.1% last night after the US Department of Justice accused it of illegally maintaining a monopoly in the smartphone market. What nonsense! We will hold the shares. Nike delivered good results but the shares went down in after-hours trade as its management team sounded dejected on the earnings call. Nerd-favourite website Reddit debuted on the markets and popped 48%. Finally, Steinhoff swindler Markus Jooste shot himself in Hermanus.

To recap, the JSE All-share closed up 0.77% on Wednesday, yesterday the S&P 500 rose 0.32%, and the Nasdaq was 0.20% higher.

US markets climbed higher yesterday, touching fresh peaks. We are happy now, but the Fed's interest rate decision still lies ahead. The S&P 500 is at an all-time high, and up 9.2% year-to-date, while the tech-heavy Nasdaq Composite has risen 9.5% in 2024.

In company news, Unilever rose 3.2% after the FMCG giant said it was going to spin off its ice-cream division that includes brands such as Magnum and Ben & Jerry's. Locally, Remgro closed down 4.6% after the conglomerate reported headline earnings that came below expectations. CEO Jannie Durand complained that unnecessary regulations were slowing down corporate dealmaking.

Here's the lowdown, the JSE All-share closed down 0.78%, the S&P 500 rose 0.56%, and the Nasdaq was 0.39% higher. Nice!

Major US market indices rose on Monday, lifted by tech stocks. Big winners on the day included Tesla (+6.3%), Google (+4.4%), Adobe (+4.4%), and Meta (+2.7%). That's all good and well, but sentiment remains jittery ahead of the Federal Reserve's interest-rate decision later this week.

In company news, Chinese authorities have accused property group Evergrande of fraudulently overstating its revenues by $78 billion. That's far worse than other corporate boondoggles such as Luckin Coffee, Worldcom, and Enron. Elsewhere, there's speculation that Google's Gemini artificial intelligence engine might find its way onto Apple's iPhones. Apple closed 0.6% higher on the news.

At the close, the JSE All-share was down 0.77%, but the S&P 500 rose 0.63%, and the Nasdaq was 0.82% higher. A solid start to the week.

US markets took a hit on Friday, and closed in the red for the week. It was the first back-to-back weekly decline for the S&P 500 since October. The information technology and communication services sectors were the weakest performers, with both declining by over 1%.

In company news, Ulta Beauty dropped 5.2% following the company's cautionary remarks about slowing growth in the industry. Elsewhere, Fisker saw a 13% increase after the electric-vehicle maker downplayed discussions about a potential bankruptcy filing. CoStar Group, a commercial property services provider, was the biggest winner in the S&P 500, rising by 8.3%. We've never heard of them.

On Friday, the JSE All-share closed down 0.48%, the S&P 500 slipped 0.65%, and the Nasdaq was 0.96% lower. A sloppy end to the week.

US markets softened yesterday following the release of producer inflation and jobless claims data, which dampened expectations for interest rate cuts. PPI and CPI data for February both exceeded expectations, and the S&P 500 and Nasdaq retreated a little, for a second consecutive session.

In company news, Adobe is down 11% after hours after issuing a soft sales forecast for 2024. Elsewhere, Robinhood advanced by 5% after the low-cost online brokerage firm said trading volumes surged in February. Lastly, Under Armour shares slumped 11% on news that its founder Kevin Plank will be making a return as its CEO.

Izolo, the JSE All-share closed down 1.24%, the S&P 500 slipped 0.29%, and the Nasdaq was 0.30% lower. Not a disaster.

US markets slipped yesterday, weighed down by a drop in semiconductor stocks. We can't complain, as the S&P 500 only fell slightly after hitting a record high on Tuesday. The biggest losers were Dollar Tree (-14.2%), Tesla (-4.5%), Intel (-4.4%), AMD (-3.9%), and McDonald's (-3.9%).

In company news, Japan's Nippon Steel declined following reports that Joe Biden was against its proposed acquisition of US Steel. The latter tanked by 15%, ouch. Over in Germany, Adidas closed up 3.8% as it swung back into profitability and reported better-than-expected numbers. Lastly, Volkswagen closed down 5.9% after yet another set of lacklustre results.

In summary, the JSE All-share closed up 1.05%, but the S&P 500 fell 0.19%, and the Nasdaq was 0.54% lower.