ZAforexWhat is the S&P 500?
The S&P 500 (Standard & Poor's 500) tracks 500 of the largest companies listed in the US, weighted by market value. Technology giants like NVIDIA, Microsoft, Apple, Amazon, Alphabet and Meta make up a large share of the index, so it is heavily influenced by big tech. It is the benchmark most fund managers measure themselves against, and many people use "the market" to mean the S&P 500.
How South Africans can invest in the S&P 500
- JSE-listed ETFs that track the S&P 500 in rand, which you can hold in a tax-free savings account.
- Offshore ETFs through an international brokerage account (using your annual foreign investment allowance).
- Unit trusts and retirement-annuity funds with US index exposure.
- CFDs (US500) at forex brokers for short-term trading. Leveraged and high risk.
When you buy an S&P 500 fund in rand, your return depends on the index and on USD/ZAR: a weaker rand boosts your rand return.
What moves the S&P 500?
- The Federal Reserve: rate cuts tend to support stocks, hikes weigh on them (see FOMC).
- Inflation and jobs data: CPI and NFP change rate expectations.
- Company earnings, especially the largest tech companies.
- Bond yields and the dollar.
Trading hours in South African time
| Session | US summer (Mar–Nov) | US winter (Nov–Mar) |
|---|---|---|
| Pre-market | 10:00–15:30 SAST | 11:00–16:30 SAST |
| Regular session | 15:30–22:00 SAST | 16:30–23:00 SAST |
| After hours | 22:00–02:00 SAST | 23:00–03:00 SAST |
Frequently asked questions
What is the S&P 500 today?
The live level and daily change are shown in the chart at the top of this page.
Can I invest in the S&P 500 from South Africa?
Yes, through JSE-listed index ETFs, offshore brokerage accounts or unit trusts. CFD trading is also possible but leveraged and high risk.