BBB Ep 22 - Wall Street sells on rumour, buys on fact with Microsoft, Google; SA's electricity sector watershed; IMF slashes world growth forecast

Good news from a weak Wall Street session with the share prices of tech giants Microsoft and Alphabet (aka Google) surging in the after-market despite both reporting lower numbers than analysts had expected. This suggests that after almost two weak years for equities, expectations may have over-shot on the downside. Stock markets look 18 months ahead, and investors appear to be looking past today's bad newsflow, that includes tonight's likely increase of another 0.75% in US interest rates to tame the highest inflation in 40-years. Also in this episode of the BizNews Breakfast Briefing - Solidarity Research Institute praises Monday's watershed announcement by president Cyril Ramaphosa on reforming SA's electricity sector, reckons it could even have been written by its own analysts. And from abroad, the IMF has sharply reduced its global economic growth forecasts for this year and next. Learn more about your ad choices. Visit megaphone.fm/adchoices