JSE opens higher as Dow closes above 26,000 and market awaits rate decision
The JSE opened firmer on Thursday, just below record levels on mixed Asian markets, after the Dow closed at a record high as some company earnings surprised to the upside.The all share hit a record 61,309.20 in intraday trade on Wednesday, but closed lower.The Dow ended the day 1.25% higher at 26,115.65 points, led by Boeing and IBM. Banking shares were down.The Dow struggled to close above 26,000 on Tuesday, but the US market was clearly taking a positive view on the expectation of higher earnings, analysts said.Asian markets were mixed, with the Nikkei 225 down 0.44% and the Hang Seng up 0.41%.The local market was eyeing a stable rand at around R12.33/$, and the Reserve Bank’s interest rate decision later in the afternoon. Although no change is predicted, the Bank may surprise with a cut on the stronger rand and positive inflation outlook.However, this would be in contrast with the hawkish tone evident at the monetary policy committee’s (MPC’s) November 2017 meeting. "Even with an...
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