Ruben Vermaak

Micron's record quarter flipped the week's chip selloff into an after-hours relief rally, while Brent slipped below $74 and gold broke under $4,000 — with a heavy US data slate due at 14:30 SAST.

A global semiconductor rout — sparked by Korea's KOSPI circuit-breaker and a Bank of America rate-hike warning — sent the Nasdaq down 2.21% and the S&P 500 down 1.44%, while the Dow held roughly flat.

A U.S.-Iran peace deal and the reopening of the Strait of Hormuz sent oil down roughly 10% on the week and lifted Wall Street, with US stock and bond markets closed today for Juneteenth.

A hawkish first Fed under new Chair Kevin Warsh — a higher 2026 dot and no forward guidance — knocked Wall Street about 1.2% lower, leaving the JSE to play catch-up as the Bank of England decision and US jobless claims headline the day.