JSE Direct with Simon Brown

MarketStandard 20 April 2020

April 20, 2020

Lockdown day 25

22million unemployment claims in US in 4 weeks (entire 2008 saw only 8.8million) opening economy

China GDP fell by 6.8% YoY in Q1 (first fall since 1992)

Wall Street gained 15% in the past two weeks, its strongest fortnight in 80 years.

Oil price .. crude oil getting smashed as global storage fills up

Earnigs season kicks off in US this week, includes March so some sense of impact but not entirely

Goldman Sachs cuts Apple to sell & cut its price target to $233 from $250 as it sees revenue dropping a third

Amazon trading at all time highs

Big cabinet meeting today (Monday)

End of the road for SAA (US airlines getting $25bn, and that not enough)

Another 1% repo rate cut, but still SARB expects SA to contract by 6.1% this year

Treasury looking to borrow $60bn, potentially from IMF

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