MARKET WRAP: JSE reverses course amid conflicting signals
Investors are torn between better-than-expected Big Tech earnings and fears of further pain in the US banking sector
26 April 2023 - 18:47
The JSE reversed course on Wednesday, closing marginally firmer as better-than-expected quarterly earnings results from Microsoft and Alphabet, and fresh US banking sector jitters jostled for investors’ attention.
Microsoft beat market expectations at the top and bottom line in its quarterly results released late on Tuesday. The company also reported a big jump in revenue at its Intelligent Cloud business segment. That sparked hopes that e-commerce giant Amazon’s cloud business could also show strong revenue growth when it reports on Thursday, Bloomberg reported...
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