Rich dad, poor kids

Market scorecard US stocks sank on Thursday after adverse comments from Federal Reserve Chair Jerome Powell. He said that the central bank is unlikely to raise rates in November, but went on to say the committee might hike in December given the strong economy. Oh for goodness sake Jay! The US 10-year bond yield hit …

X marks the spot

Market scorecard US markets had a good start to the week. All three major indices rose, with the Dow hitting the 11th consecutive day of gains, its longest winning streak in six years. Out of the main S&P 500 sectors, energy stocks had the best day thanks to Chevron's higher-than-expected profit report. Halliburton and Occidental …

Free Power

Market scorecard US markets edged lower in a quiet session yesterday after the release of the Fed's June meeting minutes. Almost all Fed officials expect additional rate increases this year, as they try to balance the fight against inflation without tipping the economy into a recession. This news reinforced market expectations of a hike at …

Your Visa to a happy retirement

Market scorecard US markets took a modest step backwards last night, as earnings season began to wind down. According to FactSet, about 80% of companies in the S&P 500 have now reported first-quarter results with 78% of them topping analysts' expectations. The most important company in the world, Apple, delivered strong numbers after-hours and its …

Because Aesop Is Worth It

Market Scorecard Stocks edged lower on Tuesday, after fresh economic data suggested that the US labour market is slowing. The S&P 500 was dragged down by shares of financial and industrial heavyweights. According to a report from the US Labor Department called the Job Openings and Labor Turnover Survey (JOLTS), vacancies at US employers declined …

Tesla Back In The Fast Lane

Market Scorecard US markets traded beautifully again on Thursday, rising strongly after better-than-expected fourth-quarter US GDP data. Inflation is moderating and economic growth is good, what more could we ask for? Locally, the JSE All-share notched another record high at the close. In company news, shares of media company Buzzfeed rose by a breath-taking 120% …

From Musk Til Dawn

Market Scorecard US markets were mixed yesterday after 2023 started on a positive footing, driven by signs that inflation may be slowing. The S&P 500 was up 1.5% before giving up those gains. Thankfully, the Nasdaq closed in the green, our favourite colour. We're eagerly waiting for the US inflation print that will come out …

Blast The Forecast

Market Scorecard Markets rallied yesterday as US inflation slowed quicker than expected, falling to 7.1% for November from 7.7% in October. The worst is behind us! Attention now moves to the Fed which has a meeting today to consider adjustments to US interest rates. We expect them to say that they have "done enough" fairly …

Semi Conducted

Market Scorecard US markets slipped yesterday, as enthusiasm about a potential pause in interest rate hikes faded. Fed speakers have been sounding hawkish, relentlessly emphasising the need to further fight price pressures. San Franscisco Fed President Mary Daly said a pause in rate hikes was "off the table" and that was echoed yesterday by Minneapolis …

Zuck ‘Em

Market Scorecard Yesterday, the S&P 500 and the Nasdaq both suffered their second straight day of losses. Companies are still battling a host of challenges including a tough operating environment, growing competition, a strong US Dollar, and a slowdown in advertising spend, all of which have taken a toll on big tech. GDP data showed …