News Formal

MARKET WRAP: JSE pares losses ahead of US inflation data

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Sverige Nyheter Nyheter

Rand stages a mild rebound, but the focus remains firmly on rising prices and the likelihood of further interest rate hikes

The JSE reversed most of its intraday losses to end Tuesday’s session slightly lower, while the rand staged a mild recovery from its weakest level against dollar since October 2020.

The JSE all share settled 0.09% lower at 67163.71 points, dragged down mainly by resources stocks that were hit by lower commodity prices. However, banks and financial stocks fared better, along with domestically-orientated industrial stocks. “As inflation has increased, so have bond yields which has put pressure on heavyweight growth stocks that have led the market over the last few years,” Davids said, referring to the US big-tech stocks that have borne the brunt of the global market sell-off.

The rand, meanwhile, strengthened to below R17 to the dollar as the greenback softened against a basket of currencies, most notably the euro, which was 0.23% firmer at $still down 4% against the dollar so far in July.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

I have always hated Bitcoin and thought it was a scam until a friend referred me to Mike_Rosehart , I made my first withdrawal of R100,000 in 2 weeks thanks to Mike_Rosehart.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

MARKET WRAP: JSE tracks global peers weaker, while rand breaches R17/$Risks have shifted from inflation to global economic growth, while the recent uptick in China’s Covid-19 cases has added to concerns I have always hated Bitcoin and thought it was a scam until a friend referred me to Mike_Rosehart , I made my first withdrawal of R100,000 in 2 weeks thanks to Mike_Rosehart
Källa: BDliveSA - 🏆 12. / 63 Läs mer »

JSE faces Asian market pressure on Tuesday as investors eye US inflationCaution prevails as US earnings season gets under way and investors await inflation data
Källa: BDliveSA - 🏆 12. / 63 Läs mer »

US equity futures drop with stocks as dollar jumps: markets wrapMost Asian stocks dropped along with US equity futures Monday and the dollar jumped as the risk of more Covid curbs in China exacerbated overarching worries about the global economic outlook. Moneyweb Covid Equity
Källa: Moneyweb - 🏆 5. / 77 Läs mer »

Business Maverick: Stocks Waver as Treasuries Sound Recession Alarm: Markets WrapStocks fluctuated as the Treasury curve inversion deepened to levels last seen in 2007, underscoring fears that Federal Reserve rate hikes will sink the economy into a recession. Oil fell below $100 a barrel.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »

WATCH: Market ReportBusiness Day TV talks to Caroline Cremen from Adviceworx I have always hated Bitcoin and thought it was a scam until a friend referred me to Mike_Rosehart , I made my first withdrawal of R100,000 in 2 weeks thanks to Mike_Rosehart
Källa: BDliveSA - 🏆 12. / 63 Läs mer »