The JSE opened flat on Wednesday, shrugging off a surge in US markets on Tuesday in which two of the main stock market indices, the S&P 500 and Nasdaq, set fresh record highs. The local top 40 and all share indices are near record levels set two years ago. Global markets are waiting for the US Federal Reserve rate decision later in the day. A slightly more hawkish tone is expected, with investors hedging their bets in the bond market, where yields on the US 10-year Treasury bond have risen in anticipation over the past few days. The blue-chip Dow Jones industrial average closed 0.47% higher at 21,613.43, just a whisker off its previous high on July 14, as higher oil prices boosted energy stocks. Sentiment was also lifted by better than expected results from Caterpillar and McDonald’s. Japan’s Nikkei 225 was up 0.48% on Wednesday, and the Hang Seng rose 0.26% in Hong Kong. Brent crude was little changed at $50.67 a barrel. Analysts questioned the sustainability of Tuesday’s rise, whi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.