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

2026-07-22 10:30 • The Motley Fool Positive Axe Cap view: Selective

Amazon shares have climbed 9% in 2026 but pulled back 8% from their May peak, presenting a potential buying opportunity ahead of the company's Q2 earnings report on July 30. The article argues that long-term investors should focus on Amazon's strong fundamentals—including its dominant position in e-commerce, AWS cloud computing leadership, and growing digital advertising segment—rather than making decisions based on a single quarter's results.

Axe note: Amazon’s recent pullback after solid gains hints at value, but local investors should tread carefully.

2026-07-22 10:16 • The Motley Fool Positive Axe Cap view: Selective

Costco shares hit an all-time high of $1,094.32 in May but have fallen 14% since then. The stock would need to rise 17% to reach $1,100. While the company has strong fundamentals and a 126% trailing five-year return, its high valuation (P/E ratio of 47.2) suggests investors should wait for a pullback before buying.

Axe note: Costco’s share price has corrected but remains expensive, making patience a virtue for new investors.

2026-07-22 10:15 • The Motley Fool Positive Axe Cap view: Selective

Major banks JPMorgan Chase and Bank of America reported strong Q2 earnings, revealing resilient consumer spending across all income segments. Credit metrics improved significantly, with lower charge-off rates and increased debit/credit card volumes. Banks attribute strength to a stable labor market with ~4.2% unemployment and higher tax refunds, though executives acknowledge some lower-income consumers still face wage stagnation amid inflation.

Axe note: Strong US bank results suggest consumer resilience but the rand's reaction remains key for SA markets.