Clear market notes built around the JSE, the rand, and what matters locally.

2026-07-23 21:29 • The Motley Fool Positive Axe Cap view: Selective

Cleveland-Cliffs stock surged 15.98% on strong quarterly results and upbeat guidance, driven by robust steel demand and pricing. The company's adjusted EBITDA jumped from $95 million in Q1 to $286 million in Q2, with expectations to reach approximately $575 million in Q3. The broader steel sector is thriving, with peers Nucor and Steel Dynamics also posting strong results.

Axe note: Strong earnings and outlooks from US steelmakers signal a bullish steel cycle that could benefit select JSE miners.

2026-07-23 21:21 • The Motley Fool Positive Axe Cap view: Selective

Nvidia's stock has underperformed the S&P 500 in 2026 despite strong business results, causing its valuation to reach its lowest point since 2019 at a P/E ratio of 31. The article argues this makes Nvidia an attractive buy given Wall Street expects 82% revenue growth this fiscal year and 42% next year, with the AI infrastructure build-out still gaining momentum. Nvidia trades at cheaper valuations than many peers while delivering superior growth rates.

Axe note: Nvidia’s rare cheapness in 2026 offers local investors a chance to play global AI growth through USD/ZAR and selective tech exposure.

2026-07-23 21:10 • The Motley Fool Mixed Axe Cap view: Selective

Major technology stocks declined sharply on July 23, 2026, as investors grew concerned about massive AI infrastructure spending without clear returns. Tesla fell 15% and Alphabet dropped 7% following earnings reports. The Nasdaq Composite fell 2.15%, S&P 500 lost 1.21%, and the Dow declined 0.97%. Rising oil prices and Treasury yields added to the risk-off sentiment, while industrials and healthcare showed relative strength.

Axe note: Heavy AI spending shadows Tesla and Alphabet earnings, dragging tech stocks lower and influencing local market sentiment.