Futures start week on weak note as market awaits Trump’s tax speech
Futures started the week lower on mixed global markets ahead of US President Donald Trump’s unveiling of his administration’s tax-reform plans on Wednesday. The Dow Jones was 0.11% up at the JSE’s close while European markets were mixed. The FTSE 100 had lost 0.20%, while the DAX 30 was up 0.05%, following German Chancellor Angela Merkel’s election victory over the weekend. The JSE closed 1.38% lower at 55,070.40 points and the blue-chip top 40 dropped 1.5%. Banks shed 2.13%, food and drug retailers 1.75%, industrials 1.56%, financials 1.4%, resources 1%, and general retailers 0.99%. Platinums rose 0.96% and the gold index 0.86%. The JSE was lower for most of the day, following the long weekend, which saw markets closed for a public holiday on Monday. US Federal Reserve chairperson Janet Yellen and other bank officials are scheduled to speak later in the evening with markets expecting further guidance on the movements of interest rates later in the year. Markets kept one eye on deve...
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