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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

Super Micro Computer Landed $60 Billion in Orders Last Quarter, but Trades at Just $30
2026-08-09 09:30 The Motley Fool Positive Axe Cap view: Selective

Super Micro Computer booked over $60 billion in AI server orders in Q4 and projects gross margins of 15-17%, nearly double prior guidance. However, the stock trades around $30 per share due to market concerns: not all orders are firm commitments, the company is raising $7 billion through equity financing (causing dilution), and an internal review of export control issues is underway.

Axe note: Super Micro Computer’s $60 billion AI server orders highlight massive demand, but risks temper enthusiasm.

Rhode Is Fueling e.l.f.'s Latest Surge. Is It Time to Jump In?
2026-08-09 09:20 The Motley Fool Positive Axe Cap view: Selective

e.l.f. Beauty reported strong fiscal Q1 results with 36% revenue growth to $479.4M, driven by its Rhode brand acquisition which contributed $160M in sales. The company raised full-year guidance and is expanding Rhode's distribution through Sephora and international markets while launching into hair care. With a forward P/E under 25, the analyst views the stock as having significant upside potential.

Axe note: e.l.f. Beauty’s Rhode acquisition boosts growth, but South African investors should weigh currency and market factors before diving in.

What Happens to a Bond ETF's Price When the Fed Cuts Rates -- Using the Actual Historical Data
2026-08-09 09:15 The Motley Fool Negative Axe Cap view: Selective

The article examines how bond ETF prices respond to Federal Reserve rate cuts using historical data from 2023-2026. While short-term Treasuries typically rise when the Fed cuts rates, long-term Treasuries are more influenced by economic conditions, inflation expectations, and risk premiums. Analysis of the iShares 20+ Year Treasury Bond ETF shows mixed results: it gained 4% when cuts were signaled in December 2023 but fell 2% after the September 2024 cut due to rising inflation concerns. Long-term Treasury holders have struggled as inflation remains elevated.

Axe note: Long-term bond ETFs like TLT have struggled despite Fed rate cuts, a cautionary tale for rand investors eyeing bonds.

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