Axe Capital Investments

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

Axe Capital Trading News shares simple market takes on the stories moving South African shares, the rand, and a handful of major currency pairs.

Coverage focus:

1. JSE shares, South African companies, and the local knock-on effects of big market news.

2. The rand, interest rates, and a small group of forex pairs, with USD/ZAR at the centre.

3. Global stories only when they can actually change how a local investor might act.

Latest Finance Headlines

Kevin Warsh Said the Fed Has "No Tolerance" for Inflation and Is Charting a "New Course" on Monetary Policy. J.P. Morgan Analysts Expect Rates to Hold Steady Through 2026.

2026-07-24 15:30 • The Motley Fool Neutral Axe Cap view: Selective

New Federal Reserve Chair Kevin Warsh emphasized the Fed's firm stance against inflation, stating it has "no tolerance for persistently elevated inflation." However, he provided no clear signals on future interest rate decisions. J.P. Morgan analysts expect the Fed to hold rates steady through 2026, with the next rate hike potentially coming in Q3 2027. The Fed remains divided on policy direction, with half of policymakers favoring higher rates by year-end and the other half preferring to hold or cut.

Axe note: Fed hawkish rhetoric contrasts with steady rate forecasts, a dynamic shaping USD/ZAR and local banks.

3 Reasons Disney Stock Can Bounce Back in the Second Half

2026-07-24 15:18 • The Motley Fool Mixed Axe Cap view: Selective

Despite a 20% decline over the past 12 months, Disney stock may be poised for a recovery. The article counters three bear theses: (1) Disney remains a hit factory with six of seven $1B+ grossing films in 2024-2025 despite Moana's underperformance; (2) theme parks show resilience compared to competitors like Comcast; (3) Disney's fundamentals have improved significantly with double-digit net margins and the stock trading at just 12x forward earnings, suggesting undervaluation.

Axe note: Despite a tough year, Disney’s strong content and park resilience position it for a rebound.

Why American Express Stock Fell 6.5% Friday Morning

2026-07-24 15:07 • The Motley Fool Neutral Axe Cap view: Selective

American Express stock dropped 6.5% despite beating Q2 earnings estimates ($4.53 EPS vs. $4.40 expected) and raising full-year revenue guidance to 10%. The decline reflects investor concerns that higher revenues won't translate to bottom-line growth, as management is reinvesting capital into growth initiatives and card perks, with operating expenses rising 12%. However, credit quality remains solid and the stock trades at a reasonable 15.9x forward earnings.

Axe note: Amex’s stock fell 6.5% even after beating earnings and raising revenue guidance, signaling investor worries about growth costs.

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Focus Areas

We keep the focus on JSE shares, the rand, and the currency moves that matter most to South African investors.

Market notes