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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 7 February 2019
South Africa
The JSE pushed higher on Wednesday, while global markets paused as investors waited for new catalysts. The All Share gained 0.68%.
United States
Wall Street edged lower on Wednesday as disappointing forecasts from videogame makers pulled the communications sector lower. The Nasdaq was up 0.74% at 19h15.
Europe
European shares were lower on Wednesday as weak results from banks and the carmaker Daimler brought an end to the market’s six-day rally. UK Prime Minister Theresa May’s trip to Brussels today may also generate headlines, as she attempts to negotiate further Brexit concessions with the EU.
Hong Kong
Mainland Chinese markets are shut for the week for the Lunar New Year holiday.
Japan
Japan’s Nikkei edged up on Wednesday with markets barely reacting to US President Donald Trump’s State of the Union address. The Nikkei share average rose 0.14%.
Rand
The rand was weaker on Wednesday, with most investors waiting for President Cyril Ramaphosa’s State of the Nation (SONA) address expected today. One dollar cost R13.55 at 19h25.
Precious metals
Gains in gold were capped by a firmer dollar on Wednesday as investors waited for further news on US-China relations after Trump’s speech offered little clarity on the trade front. At 19h30 spot gold traded at $1 313.35 an ounce.
Oil
Oil prices edged higher on Wednesday, although concerns over the outlook for the global economy capped gains. At 19h30 a barrel of Brent crude traded at $61.98 a barrel.
The JSE pushed higher on Wednesday, while global markets paused as investors waited for new catalysts. The All Share gained 0.68%.
United States
Wall Street edged lower on Wednesday as disappointing forecasts from videogame makers pulled the communications sector lower. The Nasdaq was up 0.74% at 19h15.
Europe
European shares were lower on Wednesday as weak results from banks and the carmaker Daimler brought an end to the market’s six-day rally. UK Prime Minister Theresa May’s trip to Brussels today may also generate headlines, as she attempts to negotiate further Brexit concessions with the EU.
Hong Kong
Mainland Chinese markets are shut for the week for the Lunar New Year holiday.
Japan
Japan’s Nikkei edged up on Wednesday with markets barely reacting to US President Donald Trump’s State of the Union address. The Nikkei share average rose 0.14%.
Rand
The rand was weaker on Wednesday, with most investors waiting for President Cyril Ramaphosa’s State of the Nation (SONA) address expected today. One dollar cost R13.55 at 19h25.
Precious metals
Gains in gold were capped by a firmer dollar on Wednesday as investors waited for further news on US-China relations after Trump’s speech offered little clarity on the trade front. At 19h30 spot gold traded at $1 313.35 an ounce.
Oil
Oil prices edged higher on Wednesday, although concerns over the outlook for the global economy capped gains. At 19h30 a barrel of Brent crude traded at $61.98 a barrel.
Our daily rant..
In a article yesterday we spoke about the mixed signals the moving averages of Apple (AAPL) was sending out to investors. We stated:
"The image above shows the SMA10 (which is at $161.9) a share is above the SMA30 (which is at $155.8 a share). This signals positive or bullish sentiment towards the short term price movements of AAPL. Yet when looking at the longer term moving averages, the SMA100 (which is at $188.4 a share) is below the SMA200 (which is at $191.1 a share). "
"The image above shows the SMA10 (which is at $161.9) a share is above the SMA30 (which is at $155.8 a share). This signals positive or bullish sentiment towards the short term price movements of AAPL. Yet when looking at the longer term moving averages, the SMA100 (which is at $188.4 a share) is below the SMA200 (which is at $191.1 a share). "
So to those invested in AAPL shares, dont be surprised if it moves sideways in coming days and weeks, while the marker waits for clearer signals as to where it might be heading. See the full Apple article here
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 the market has gained 0.78% during the first 6 days of February 2019. With the month having had two negative trading days in a row and this was followed by two positive trading days in a row. So its anyone's guess as to where it will head today, ahead of South Africa's State of the Nation address tonight.