Concerns that the Fed will have to wrestle with elevated inflation for a long time slowed this week’s rally
In energy matters, the government appears enslaved by ‘first world’ norms and standards
The accused were arrested as part of a Hawks operation to nab alleged instigators who incited public violence during looting and destruction in 2021
Nedbank failed to comply with certain provisions the Financial Intelligence Centre Act
Mudiwa Gavaza is joined by Larry Masson, a financial adviser and franchise principal at Consult by Momentum.
Parent company London-listed Pearson Plc said the disposal was part of a strategic review.
US attorney-general Merrick Garland has asked a judge to unseal the search warrant for Trump’s home
Top swimmers have a rivalry that could develop into one of SA sport’s greatestt
Rushdie’s condition is not immediately known
The JSE could edge higher on Thursday, taking its cue from global markets, though upside moves will likely be contained ahead of the release of US inflation data, which has been a key focus for markets for weeks.
US consumer inflation is expected to have accelerated to an annual rate of 4.7% in May, according to Bloomberg’s median estimate, up from 4.2% in April, which was the highest level in 12 years.
Sentiment is split on the outlook for US inflation, with some saying the spike will likely be temporary while others argue it will be durable.
The upshot is that the US Federal Reserve could begin to scale back monetary support sooner than anticipated if acceleration in inflation is sticky.
Ahead of the release of US inflation data, Asian markets were roundly positive, despite a fairly choppy session on Wall Street on Wednesday night.
The JSE will likely track Asian markets higher, after a disparate session on Wednesday, where the gauge of the banking index rose to its highest level in more than year but resources fared poorly, resulting in the all share index ending flat on the day.
The rand steadied at R13.73/$ in early trade, after falling the most since late April after power utility Eskom escalated load-shedding to stage 4. The unreliable power supply is often cited as of the key impediments to unlocking the potential of the SA economy, which contracted the most on record in 2020 as a result of Covid-19-induced lockdowns.
Commodity prices were marginally weaker, with Brent crude slipping 0.44% to $71.72, backing away from a two-year high touched on Wednesday.
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.