Trump’s China tweet likely to cheer the JSE
The rand was trading at R/14.37$, R16.40/€ and R18.68/£ at 7am.
Trump’s upbeat tweet about his talks with his Chinese counterpart outweighed Apple falling 6.5% to $207.81 in Nasdaq’s after-hours trade after releasing its September quarter results.
“The reaction was caused by two things: a disappointing revenue outlook for the December quarter, which will include the launch of its latest iPhone, and a surprise announcement that the company will no longer break out device unit sales in future financial results,” Dow Jones reported.
“It bears noting that Apple sold more than $228bn worth of iPhones, iPads, Macs, Watches and other items in its most recent fiscal year, accounting for more than 85% of the company’s total revenue. The decision, in other words, will sharply limit investors’ ability to understand the main drivers of the world’s most valuable company.”
Friday looks to be a quiet day on the JSE results and local economics fronts. The US is scheduled to release its balance of trade and unemployment figures at 2.30pm South African time.
Source: businesslive.co.za