US markets stumbled after our close last night with both the Dow Jones & S&P500 Index dropping 0.4% lower, losing their initial positive momentum. Asian markets, however, cannot seem to be bothered, as they are trading higher across the board, but our dual listed catalysts are not among the gainers. The Rand remains weaker as it is trading at R10.60/$, with the gold price last quoted at $1,298 an ounce. US futures are trading +0.2% this morning.
Key macro events:
- SA: Electricity Production & consumption Y/Y
- SA: Budget
- US: MBA Mortgage applications
- US: ADP Employment change
- US: GDP Annualized Q/Q – expected: 3%