Nvidia making $1 billion a day, and criminal syndicates entrenched in the South African army

The rand was trading at R15.96 against the United States dollar in early trade on Thursday, 27 August 2026, slightly weaker than the day before.

The JSE also weakened slightly but remained largely unchanged, with the All Share Index down 0.01% and the Top 40 down 0.04%.

Household finances showed tentative improvements, with real net salaries rising for the first time in 9 months during July.

This was boosted by softer inflation, despite the potential for higher living and fuel costs to undermine this in the coming months.

Wall Street equities fell slightly after US headline inflation for July came in at 3.7%, strengthening expectations of a restrictive monetary policy from the Federal Reserve.

The Dow Jones was down the most at 0.21%, followed by the Nasdaq at 0.08% and the S&P 500 at 0.02%.

Investors now wait to hear Fed Chair Kevin Warsh’s Jackson Hole address, with the futures market increasing the probability of a September rate hike to 40%.

European markets closed flat amidst Middle East tensions and US rate concerns, while Asian shares advanced on the back of Nvidia’s strong earnings.

In the commodities market, gold rose 0.68% to $4,625.94 an ounce, while Brent crude oil fell 0.05% to $87.42 per barrel.

This comes as diplomatic efforts are underway to improve the flow of trade through the Strait of Hormuz, with Iran and Oman working on a deal to govern the waterway.

Qatar is also seeking to reignite negotiations in the hopes of bringing the wider conflict to a close.

On Thursday morning, the rand was trading at R15.96 to the dollar, R18.60 against the euro, and R21.68 against the British pound.

Important finance and investing news

Nvidia making $1 billion a day: American chip-maker Nvidia has forecast revenue growth of 70% for its 2028 financial year, significantly stronger than the 45% predicted by analysts. The company also reported strong earnings in the last quarter. [Wall Street Journal]

Criminal syndicates entrenched in the South African army: Members of the South African Parliament’s Defence Committee have called for an inquiry after raising concern about the levels of corruption and tender irregularities across the country’s Department of Defence and Military Veterans. [EWN]

Abercrombie shoots through the roof: Shares in Abercrombie & Fitch jumped to an 18-month high after the American fashion and lifestyle retailer reported a large boost in operating income, fueled by a $100 million tariff refund in its second quarter earnings. [Yahoo Finance]

Meta settles landmark case: Meta has promised to implement changes to its Facebook and Instagram platforms, following an $18 billion settlement that saw 48 US states accuse the company of promoting harmful and addictive features to children and teenagers. [Semafor]

South Africa forms new alliance: US tariff pressures have pushed South Africa and Brazil into forming a new economic alliance, with the two BRICS members putting past trade differences aside in favour of promoting deeper economic and industrial cooperation. [BusinessDay]