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.

What you will find here:

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 market stories

This 1 Company Is By Far the Largest Contributor to Second-Quarter S&P 500 Earnings Growth

2026-07-30 13:30 • The Motley Fool Positive Axe Cap view: Selective

Alphabet delivered a massive earnings beat with $9.11 EPS versus $2.90 expected, becoming the largest contributor to S&P 500 earnings growth for Q2. However, much of the beat ($98 billion) came from unrealized gains on equity holdings, particularly a $94 billion gain on its SpaceX stake following the company's June IPO. Without Alphabet's performance, S&P 500 earnings growth would drop from 37.9% to 25.9%. Alphabet also holds a substantial stake in AI company Anthropic, which could see significant gains when it goes public.

Axe note: Alphabet’s huge Q2 beat mainly reflects paper profits from SpaceX, masking S&P 500’s real earnings growth.

Palantir's Profit Nearly Quadrupled Over the Past Year. Its Stock Fell 40% From Its High. Both Numbers Get Tested on Aug. 3.

2026-07-30 13:14 • The Motley Fool Neutral Axe Cap view: Selective

Palantir Technologies has delivered exceptional business results with net income nearly quadrupling to $2.28 billion and Q1 revenue growing 85% year-over-year, yet its stock has fallen 40% from its high of $207.52. The disconnect reflects investor concerns about valuation, with the stock trading at an 80x forward P/E multiple that prices in years of extraordinary growth. The company's Aug. 3 earnings report will test whether growth can sustain at current levels, particularly in the fast-growing U.S. commercial segment which grew 133% year-over-year.

Axe note: Palantir’s profits have surged but its share price lags, highlighting valuation doubts.

VHT vs. PBE: Which Health Care ETF Is the Better Buy?

2026-07-30 13:09 • The Motley Fool Positive Axe Cap view: Selective

The Vanguard Health Care ETF (VHT) offers broad healthcare exposure with a low 0.09% expense ratio and 423 holdings, while the Invesco Biotechnology & Genome ETF (PBE) provides focused biotech exposure with 31 holdings and higher growth potential. PBE delivered a stronger 40.88% one-year return but experienced greater volatility with a 37.84% maximum drawdown, while VHT returned 27.85% with lower risk. VHT suits conservative investors seeking steady, low-cost exposure, while PBE appeals to risk-tolerant investors chasing biotech innovation.

Axe note: Choosing between broad, low-cost healthcare exposure and focused, high-volatility biotech growth.

See all market stories →

What we follow

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

JSE and rand