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JSE opens higher as Fed comments boost global stocks

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New York Federal Reserve Bank CEO John Williams says it would be better to take ‘preventative measures’ as expectations rise for a rate cut

The JSE opened higher, in line with most global markets after a US Federal Reserve official hinted at the possibility of monetary policy easing in the US. preventative measures than to wait for disaster to unfold” amid mounting expectations that the Fed will cut the interest rate at their next meeting at the end of the month.

At 10.15am, the JSE all share had gained 1.11% to 58,513.50 points and the top 40 1.17%. Gold miners climbed 3.33% and resources 1.47%.

 

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