JSE marginally firmer at midday ahead of Fed decision
Like most markets, the JSE is cautiously waiting for the rate hike decision out of the US; locally, Sun International is down 9.61%
The JSE was marginally firmer at midday on Wednesday, cautiously waiting — like most international markets — for the decision on interest rates by the US Federal Reserve. Momentum SP Reid analysts said at the outset of the day’s session that "a marginal improvement at most" was likely for the local market, with trading activity having been affected by a futures close-out and the upcoming Fed decision. PSG analysts said the Fed was likely to raise interest rates for the second time in three months, encouraged by strong monthly job gains in the US and confidence that inflation is finally approaching its target. The local market recovered after closing weaker on Tuesday after sentiment was affected by ratings agency S&P saying that, while SA was poised for growth this year, it was still vulnerable to a credit downgrade. The Dow Jones industrial index closed flat at 20,837.37 points while Asian markets were mostly down in the morning. At 12.01pm, the JSE all share was up 0.1% at 51,751....
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