The JSE opened firmer on Tuesday after the Dow closed at a record high on Monday, with Fed officials saying fiscal stimulus could complement the US Federal Reserve’s monetary policy. The Dow closed 0.47% higher at 18,956.69 points. Retailers and banks on the JSE rallied on the stronger rand but gold shares retreated after the marginally weaker dollar stabilised against the euro. "Certain fiscal policies, particularly those that increase productivity, could increase the potential of the economy and help confront some of our longer-term economic challenges," Fed vice-chairman Stanley Fischer said. Fischer’s comments came as a Fed hike in December seems more and more like a given. The market at present has priced in a 98% likelihood of a hike happening. President-elect Donald Trump in his campaign criticised the Fed’s low interest policy and Fischer’s comments appeared to indicate that fiscal and monetary policies could be more aligned under a Trump administration. This, together with ...
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