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Daily Highlights

Wall Street subdued after Fed holds rates steady

Adriaan Pask, Chief Investment OfficerPSG Wealth

Wall Street subdued after Fed holds rates steady

The US Federal Reserve held interest rates steady at 4.25%–4.50% for a fourth straight meeting in June 2025, aligning with market expectations. Policymakers remain cautious as they assess the broader economic effects of President Donald Trump’s policies, particularly on tariffs, immigration  and tax reform. Despite holding rates, officials still anticipate two rate cuts later this year. US equity markets erased earlier gains by late afternoon, with investors weighing the Fed’s stance and rising geopolitical risks. The S&P 500, Dow Jones, and Nasdaq 100 all ended marginally lower after earlier climbing as much as 0.50%.

In Europe, stock markets fluctuated throughout the day and closed slightly lower as investors digested global monetary policy signals, trade-related uncertainties and heightened tensions in the Middle East. The Eurozone’s STOXX 50 and the broader STOXX 600 each slipped 0.40%, finishing at  5 270 and 540, respectively. President Trump mentioned that Iran had made contact to discuss easing attacks from Israel, though his hawkish tone persisted.

Locally, the JSE All Share Index ended 0.35% higher on Wednesday, buoyed by steady inflation data. South Africa’s annual inflation rate remained at 2.80% in May—the same as April’s five-year low—while monthly CPI rose just 0.20%, slightly below the 0.30% recorded in April. Core inflation also held at 3%, the lowest since July 2021.

In Asia, the Hang Seng fell 1.10% to 23 711, declining for a second session as hopes for de-escalation in the Middle East faded. Meanwhile, Japan’s Nikkei 225 rose 0.90% to a four-month high, helped by weaker economic data that reduced pressure on the Bank of Japan to raise rates. 

In commodities, Brent crude dropped over 1% to $75.20, retreating from session highs on signs of possible US-Iran dialogue.

KST3 044c-47c (-1.52%)
Market Indicators
DateIndexCurrent Level1 Day Move1 Month Move6 Month Move1 Year Move
Date2026-11-06T00:00:00IndexALSICurrent Level113286.181 Day Move3.671 Month Move4.586 Month Move-1.501 Year Move4.13
Date2026-11-06T00:00:00IndexBasic mineralsCurrent Level80078.301 Day Move2.761 Month Move-4.666 Month Move-10.601 Year Move11.23
Date2026-11-06T00:00:00IndexFin + Ind 30Current Level13779.051 Day Move4.131 Month Move9.126 Month Move3.261 Year Move1.32
Date2026-11-06T00:00:00IndexFinancialCurrent Level65382.171 Day Move3.691 Month Move8.386 Month Move7.121 Year Move15.48
Date2026-11-06T00:00:00IndexIndustrial indexCurrent Level138067.001 Day Move4.601 Month Move9.896 Month Move-0.511 Year Move-10.00

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PSG Wealth House View SA Equity Portfolio––
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Corporate Actions

Corporate Actions
DateCompanyShare CodeExpectation
Date12 November 2026CompanyABMBMB353Share CodeAMB353ExpectationInterest
Date11 November 2026CompanyRMB HLGDS LTDShare CodeRMHExpectationRedemption
Date11 November 2026CompanySPEAR REIT LIMITEDShare CodeSEAExpectationDRIP

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