JSE opens higher as Dow aims for record territory
US markets trade at, or near, record levels as trade tension softens amid weaker dollar, but analysts warn against overconfidence in emerging markets
The JSE opened firmer on Tuesday after the Dow closed above 26,000 points on Monday, rising more than 1% on the day following US President Donald Trump’s confirmation that the US had reached a preliminary trade deal with Mexico. Asian markets were mostly firmer, with the Nikkei 225 rising 0.06% and the Hang Seng 0.26%. The Shanghai Composite dropped 0.10%. The Dow reached a record high on January 26, when it closed at 26,616.71 points. Both the S&P 500 and the Nasdaq have closed at record highs over the past few sessions. The euro firmed to $1.17 as strong German data also supported the European currency. Market sentiment favoured exposure to risky assets, with the JSE gaining from a relatively dovish stance by the US Federal Reserve. The trade agreement replaces the North American Free Trade Agreement (Nafta), which was a deal involving the US, Canada and Mexico. Canadian foreign minister Chrystia Freeland is on her way to Washington to join the talks in the hope of extending the U...
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