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

2026-09-01 23:30 • The Motley Fool Neutral Axe Cap view: Selective

September historically shows negative returns averaging -1.1% for the S&P 500 since 1928. With the Magnificent Seven AI stocks comprising 34% of the index, concentration risk could amplify seasonal weakness. However, recent years show mixed results—2023 saw declines while 2024-2025 posted gains. Rather than avoiding AI stocks entirely, investors should rebalance positions and rotate into defensive assets like gold, utilities, and bonds during September weakness.

Axe note: Despite the AI rally, September’s seasonal weakness suggests rotating into safer South African sectors is wise.

2026-09-01 22:25 • Zacks Investment Research Positive Axe Cap view: Selective

Dell Technologies reported record revenue of $47.0 billion, up 58% YoY, driven by strong AI infrastructure demand. The company raised FY27 revenue guidance by $25 billion to $192 billion. AI server orders hit a record $60.9 billion with a $95 billion backlog, providing strong visibility. Adjusted EPS of $7.04 exceeded consensus estimates by 40%, and the stock maintains a Zacks Rank #1 (Strong Buy) rating.

Axe note: Dell's record AI-driven growth signals strong tech demand, with implications for dollar strength and JSE tech plays.

2026-09-01 22:15 • Zacks Investment Research Positive Axe Cap view: Neutral

BlackRock stock declined 2.38% on September 1, 2026, underperforming the S&P 500's 0.71% loss. Despite a 2.57% monthly gain, the company trades at a premium valuation with a Forward P/E of 20.69 versus the industry average of 11.91. Upcoming earnings are projected to show strong growth with EPS up 23.29% and revenue up 14.26% year-over-year, though the stock holds a Zacks Rank #3 (Hold) rating.

Axe note: Despite recent underperformance, BlackRock’s strong earnings outlook keeps investors cautious but interested.