Futures surpass JSE losses as Dow recovers from Trump’s threats
South African futures tracked the lower JSE on Friday, while US equities opened in positive territory, boosted by tech stocks.
The all share closed 0.98% lower at 55‚155.10 points and the blue-chip top 40 lost 1.09%. The all share was down 1.41% for the week.
Resources dropped 1.41%‚ industrials 0.99%‚ financials 0.66%‚ banks 0.58%‚ platinum 0.55%‚ property 0.26%‚ and food and drug retailers 0.17%. The gold index was up 0.69% and general retailers 0.09%.
Major US stock markets were positive, but still on pace to register their ugliest week in months, amid intensifying rhetoric between the US and North Korea, reported Dow Jones Newswires.
Earlier, the dollar slid after US inflation for July came in slightly less than expected, which dented expectations for interest-rate increases. Investors seemed to be largely betting on the continuation of a slow-growth, low-inflation environment, and the tech sector could keep trudging higher, the newswire said.
At 5.43pm, the Dow had added 0.11% and the Nasdaq 0.29%. The FTSE 100 was off 1.12%, the DAX 0.12% and the CAC 40 1.26%.
Platinum was down 0.07% to $981.42 an ounce and gold had added 0.04% to $1,286.89.
The top-40 Alsi futures index lost 1.23% to 48,683 points. The number of contracts traded was 31,953 from Thursday’s 32,327.