MARKET WRAP: JSE slips as investors see an end to US rate hikes

The JSE closed weaker on Thursday, snapping three days of gains, as investors pored over a swathe of data from the US amid a growing consensus that the Federal Reserve may be done with rate hikes.

The US Labor Department reported on Thursday that weekly jobless claims for the week ended November 11 increased more than expected. That and softer-than-expected consumer and producer inflation data indicate the US central bank’s aggressive policy tightening is finally working, and the idea that the Fed could even cut rates next year is gaining momentum…