MARKET WRAP: JSE rebounds on the back of strong US earnings
Analysts caution that rising US Treasury yields are pointing clearly to higher interest rates that are likely to hit stocks
The JSE tracked firmer US and European markets on Wednesday as a slew of strong US corporate earnings boosted sentiment. Miners, industrials and retailers were the main winners on the day.
“Stocks rose as investors got better-than-expected earnings while digesting [the] rising US 10-year Treasury yield,” said Oanda senior market analyst Craig Erlam. “While equity markets are recovering some of Tuesday’s losses, anxiety and uncertainty continue to dominate.”..