Market Analysis

Wall Street returns from the holiday in risk-on mode, with the Dow at a record and the AI trade recovering, even as futures cool and valuation warnings mount.

US markets reopen after the July 4 break with indexes near record highs; ISM Services today and Wednesday's Fed minutes headline an otherwise light data week.

US markets are closed for Independence Day after Wall Street finished near records on a soft June jobs report, with the rand firming to around 16.26.

The S&P 500 closes at a record while the Nasdaq slips on chip profit-taking, with all eyes on the US June jobs report.

Wall Street closed its best quarter in about six years as H2 opens on a heavy US data slate, a new Fed Chair at Sintra, and Thursday's payrolls in view.

The AI trade roared back on Monday, with the Dow closing above 52,000 for the first time as Alphabet led a broad tech rebound and the rand firmed near 16.40.

Stock market today: Wall Street drifted into quarter-end as an AI-trade wobble dragged the Nasdaq to a fifth straight loss, while the S&P 500 and Dow held near flat and the rand softened.

Micron's record quarter sparked a chip rally, but the same memory shortage pushed Apple and Microsoft to hike hardware prices more than 20%, dragging the Nasdaq to a fourth straight loss while the S&P 500 closed flat and core PCE hit 3.4%.

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.