Think Daily 07/05/2021

In the yesterday’s trading session in the local markets, most of the sectors were up besides the Resources 10. The Top40 had a move up of 0.28%, with the Financial 15 up the most by 1.7% in yesterday’s move. Interesting price actions were Capitec reaching an all-time high of R1560.00 and we saw Anheuser-Busch InBev release their Q1 results, which were relatively good and resulted in a 4.34% climb. The Rand continued their favored session against the major currencies and strengthened by 1% across the board and closed at R14.21 against the Greenback, R19.74 against the Great British Pound and R17.13 against the Euro. 
 

On the commodities front, the rally continues with the Gold Spot price set above $1800, Platinum Spot price comfortably above $1200 and Brent Crude Oil still hovering around $70 a barrel. Copper soared even further and reached an all-time high. The Iron Ore spot also went to break the $200/ton for the first time. 
 

Across the globe, the U.S. markets had an all-round positive day, across the different exchanges, with the Dow Jones Industrial Average up 0.93%. U.S. reported better than anticipated Initial Jobless Claims, which were a sign of a rebound in productivity of the economy. The Federal Reserve Are not looking to move from their stance to keep near-zero interest rates. The FTSE 100 was relatively flat, up by 0.52% and the DAX and CAC40 had similar moves, to close 0.17% and 0.28% respectively. In the Asian markets, the Nikkei 225 is up 0.12% and the Hang Seng is up 0.2%. 
 

Things to look out for today 
 

As the first Friday of the month, investors have their eye on the Non-Farm Payroll numbers to be released today at 14:30 local time. Internationally, we still have a number of corporations to release their earnings results, such as, Nikola, DraftKings, Siemens, BMW and  Adidas.