Futures weaken as JSE closes lower ahead of Trump address
Markets have increasingly become doubtful of Donald Trump’s promise of tax reform and his campaign rhetoric of greater spending on infrastructure
South African futures were weaker on Monday as the JSE closed lower in lacklustre trade ahead of US President Donald Trump’s address to congress on Tuesday. Markets have increasingly become doubtful of his promise of tax reform and his campaign rhetoric of greater spending on infrastructure. The Dow Jones industrial average was flat (-0.03%) in early trade in New York. European markets turned positive, with the UK’s FTSE 100 adding 0.20%. The German Dax gained 0.11%. The dollar trended weaker in choppy trade on Monday ahead of Trump’s speech as gold remained steady at three-month highs. US treasuries were weaker. The all share closed 0.22% lower at 51,497.20 points and the blue-chip top 40 dropped 0.26%. The gold index shed 2.85% and platinums lost 1.15%. Financials dropped 0.66% and property shed 0.38%. Banks were down 0.33% and food and drug retailers were off 0.2%. Resources ended the day flat (-0.03%). Commodities were firmer in late trade. Platinum gained 1.18% to $1,038.92 an ...
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