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In our continued efforts to give our readers a broad number of views, opinions and information, we continue to provide PSG's daily market updates and add our own daily rant at the end.
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Short summary of PSG's market commentary for 15 February 2019
South Africa
The JSE ended flat on Thursday as global markets succumbed to the pressure from the release of less-than-inspiring US economic data. At 19h50 the All Share was down 0.03%.
United States
Optimism over bilateral trade talks between the US and China continued to boost The Dow Jones futures on Thursday. Bloomberg also reported that Trump was considering postponing the March deadline for higher tariffs on Chinese goods by 60 days. At 20h35 The Dow Jones futures were down 0.03%.
Europe
European shares fell on Thursday after an unexpected decline in US retail sales dragged stocks through the mud, trimming gains recorded earlier that saw blue-chips thrive on strong earnings. At 20h30 the FTSE 100 gained 0.35%.
Hong Kong
Hong Kong stocks ended lower on Thursday as investors remained cautious amid hopes of a trade truce between Washington and Beijing. The Hang Seng ended the day 0.23% in the red.
Japan
The Nikkei ended flat on Thursday as less-than-inspiring earnings results from index-heavy Japanese corporations capped the broader market. At 20h15 the Nikkei made marginal gains of 0.02%.
Rand
Eskom’s financial woes managed to push the rand on a downward spiral on Thursday as investors priced in the risk of a credit-rating downgrade. At 19h55 the rand traded R14.15 against the dollar.
Precious metals
Gold prices were steady on Thursday as investors kept a close eye on the current trade negotiations between two of the world’s biggest economies and the US government shutdown. At 19h50 Spot gold was trading at $1 305.65 an ounce.
Oil
Oil prices surged for a third consecutive session on Thursday as optimism about the possibility of a trade truce between the US and China lifted global financial markets. At 20h00 benchmark Brent crude was trading at $63.61 a barrel.
The JSE ended flat on Thursday as global markets succumbed to the pressure from the release of less-than-inspiring US economic data. At 19h50 the All Share was down 0.03%.
United States
Optimism over bilateral trade talks between the US and China continued to boost The Dow Jones futures on Thursday. Bloomberg also reported that Trump was considering postponing the March deadline for higher tariffs on Chinese goods by 60 days. At 20h35 The Dow Jones futures were down 0.03%.
Europe
European shares fell on Thursday after an unexpected decline in US retail sales dragged stocks through the mud, trimming gains recorded earlier that saw blue-chips thrive on strong earnings. At 20h30 the FTSE 100 gained 0.35%.
Hong Kong
Hong Kong stocks ended lower on Thursday as investors remained cautious amid hopes of a trade truce between Washington and Beijing. The Hang Seng ended the day 0.23% in the red.
Japan
The Nikkei ended flat on Thursday as less-than-inspiring earnings results from index-heavy Japanese corporations capped the broader market. At 20h15 the Nikkei made marginal gains of 0.02%.
Rand
Eskom’s financial woes managed to push the rand on a downward spiral on Thursday as investors priced in the risk of a credit-rating downgrade. At 19h55 the rand traded R14.15 against the dollar.
Precious metals
Gold prices were steady on Thursday as investors kept a close eye on the current trade negotiations between two of the world’s biggest economies and the US government shutdown. At 19h50 Spot gold was trading at $1 305.65 an ounce.
Oil
Oil prices surged for a third consecutive session on Thursday as optimism about the possibility of a trade truce between the US and China lifted global financial markets. At 20h00 benchmark Brent crude was trading at $63.61 a barrel.
Our daily rant..
ESKOM continues with loadshedding. A slight improvement is the fact that loadshedding Stage 2 is being implemented on Valentines day 2019. The power utility seems to be using loadshedding and their financial woes as a bargaining chip to try and force NERSA's arm in granting them the 15% tariff hike they are requesting.
Our JSE All Share index daily performance calendar
The graphic below provides the daily returns of the JSE All Share Index (J203) on a calendar chart. Provides a great overview of the All share index over the course of the month. It will be updated daily with our daily investment update as received from PSG.
The first trading day of February ended in the red. In contrast to January in which every Friday ended the day in the green, so far for February 2019 every Friday has ended in the red. So far the market has increased by 0.71% during the first 14 days of February 2019. Its been a relatively directionless month for the stock market, with movements flip flopping between positive and negative. Neither the bulls nor the bears are currently in control of the markets, so we are basically just moving sideways. However risk on sentiment towards riskier assets such as emerging market stock markets has increased as trade war fears between the USA and China seems to abating a bit.