Futures track weaker JSE as Dow hits 23,000 points for the first time
South African futures closed weaker on Tuesday, as the local bourse came under pressure from political risk, and consolidation, while US equity markets gained on positive earnings reports. Earnings season in the US is expected to provide market direction for the next few sessions, while the local bourse dropped following yet another Cabinet reshuffle. Focus on Wednesday could again be on currency movements, with both US Federal Reserve policy makers, and those of the European Central Bank, set to make speeches. In terms of local data, the key releases are on Wednesday, when the September consumer inflation figures and retail trade sales for August are expected. Headline consumer inflation averaged 5.5% over the first eight months of 2017‚ having peaked at 6.75% year on year in December 2016. Economists forecast inflation to have climbed back just above 5% year on year in September‚ mainly due to higher fuel costs. Wednesday marks the start of the Chinese Communist Party congress, wh...
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