Please note ThinkMarkets does not provide CFD services to residents of the US.

Please note ThinkMarkets does not provide CFD services to residents of the US.

Learn To Trade
 
Indicators & Chart Patterns

Deepen your knowledge of technical analysis indicators and hone your skills as a trader.

Find your detailed guides here
Live Webinars

Boost your knowledge with our live, interactive webinars delivered by industry experts.

Learn More
Trading Glossary

From beginners to experts, all traders need to know a wide range of technical terms. Let us be your guide.

Learn more
Knowledge Base

No matter your experience level, download our free trading guides and develop your skills.

Learn more
Learn To Trade

Trade smarter: boost your skills with our training resources.

Create a live account
Market Analysis
 
Market News

All the latest market news, with regular insights and analysis from our in-house experts

Learn more
Economic Calendar

Make sure you are ahead of every market move with our constantly updated economic calendar.

Learn more
Technical Analysis

Harness past market data to forecast price direction and anticipate market moves.

Learn more
Live Webinars

Boost your knowledge with our live, interactive webinars delivered by industry experts.

Register now
Special Reports

Engaging, in-depth macroeconomic analysis and expert educational content from our in-house analysts

Learn more
Market Analysis

Harness the market intelligence you need to build your trading strategies.

Create a live account
About ThinkMarkets
 
Sponsorships

Check out our sponsorships with global institutions and athletes, built on shared values of excellence.

Learn more
About Us

Find out more about ThinkMarkets, an established, multi-award winning global broker you can trust.

Learn more
Careers

Discover a range of rewarding career possibilities across the globe

Apply now
ThinkMarkets News

Keep up to date with our latest company news and announcements

Learn more
Trading Infrastructure

When it comes to the speed we execute your trades, no expense is spared. Find out more.

Learn more
Contact Us

Our multilingual support team is here for you 24/7.

Learn more
About ThinkMarkets

Global presence, local expertise - find out what sets us apart.

Create a live account
Log in Create account

Think Daily 5 May 2022

Lesego Mthombothi Lesego Mthombothi 05/05/2022
Think Daily 5 May 2022 Think Daily 5 May 2022
Think Daily 5 May 2022 Lesego Mthombothi

In Wednesday’s trading session in the local markets, the Top 40 closed the day down by 1.28%. The Resources 10 sector went down by 1.56%, the Financial 15 went down by 0.19%, the Industrial 25 went down by 1.65% and lastly, the South African Listed Property index went down by 1.32%. The rand traded at R15.74 against the United State Dollar, R19.66 against the Great British pound, and R16.60 against the Euro. In yesterday’s trading session, local markets showed a sell-off with all of the sectors closing in the red, once more. Massmart had a huge 6.88% drop in the share price and is trading at the company’s lowest level since January 2021. As of earlier this morning, Gold Fields and Sibanye Stillwaters reported an operating update for the quarter which ended on the 31st of March 2022. Metair Investments released a voluntary update with regards to the impact of the flooding in Kwa Zulu Natal. Lastly, Textainer and AB Inbev reported the respective companies' first-quarter results for 2022. 


Figure 1: Massmart’s 2-year chart  
 

On the commodities front, the Brent Crude oil is trading at $110.40 a barrel and WTI Crude oil is traded at $107.42 a barrel. Gold Spot price is currently trading at $1896.92. Platinum Spot is now trading at $1000 and lastly, Palladium Spot price is at $2273.89. As for oil, the EU proposed an embargo on Russian crude in six months and refined products by the end of 2022. The proposal also included a ban on all shipping, brokerage, insurance and financing services offered by EU companies for the transportation of Russian oil in a month. Furthermore, There is an OPEC+ meeting later today, where it is expected to stick to plans for a gradual ramp-up of monthly production.  
 

Across the globe, the S&P 500 closed the day up 2.99%, Dow Jones closed up 2.81% and the Nasdaq had a 3.41% climb. The FTSE 100 closed up 0.22% and the DAX was up 0.72% and CAC40 was up 0.79%. In the Asian markets, the Nikkei 225 is on holiday and the Hang Seng is up 0.48% currently. In the United States,  The Fed raised interest rates by a widely expected half-percentage point and Powell said similar moves were on the table for June and July. He also pushed back against a larger 75 basis point rate increase, causing the dollar and Treasury yields to ease from recent highs and driving haven demand for bullion. Etsy and eBay reported lighter-than-expected revenue guidance for the second quarter. Companies slated to report earnings today include Shopify, ConocoPhillips, Baidu and Block, among others. 

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

Related articles:

Pound Sterling's Tightrope: Navigating the Na...

By Alejandro Zambrano

30/01/2024

Bitcoin’s Price Plummets After ETF Approval

By Alejandro Zambrano

24/01/2024

Where next after the S&P 500 hits a new all-t...

By Alejandro Zambrano

23/01/2024

From ETFs to Halvings: Unpacking Bitcoin's re...

By Alejandro Zambrano

24/10/2023

Global markets shaken by Middle East tensions...

By Alejandro Zambrano

17/10/2023

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Back to top