Morgans AM

US equity markets rallied as an agreement by a group of big banks to deposit US$30B with troubled lender First Republic Bank helped soothe fears of a rolling banking crisis - Dow gained +372-points or +1.2%, The broader S&P500 rose +1.80%, with Information Technology (up +2.82%) and Communication Services (+2.77%) rallying over >2.5% to lead nine of the eleven primary sectors higher. Consum...

US equity markets retreated as concerns around a banking crisis spread to Europe - Dow fell -281-points or -0.87%, paring an earlier decline of as much as 725-points. The broader S&P500 lost -0.70%, with the Energy sector (down -5.42%) under fresh pressure and leading six of the eleven primary sectors lower. Materials (down -3.28), Financials (-2.91%) and Industrials (-2.51%) all fell over &gt...

US equity markets climbed and bonds retreated as some semblance of calm returned in the wake of the collapse of Silicon Valley Bank (SVB) late last week, and as investors parsed the latest monthly inflation figures - Dow gained +336-points or +1.06%, snapping a five session losing streak. The broader S&P500 +1.68%, with Communication Services (up +2.75%), Information Technology (+2.29%) and Fi...

US equity markets weaker as the collapse of SVB Financial Group ‘s Silicon Valley Bank (SVB) continued to reverberate, and with investors eyeing tonight’s AEST inflation figures - Dow fell -91-points or -0.28%, extending declines into a fifth straight session but paring an earlier decline of ~284-points. Boeing Co added +0.15%, with the Wall Street Journal reporting that the aircraft manufacturer...

US equity markets as regulators closed SVB Financial Group ‘s Silicon Valley Bank (SVB) and the Federal Deposit Insurance Corp took control on Friday (10 March), marking the largest demise of a U.S. bank since the 2008 financial crisis. The news somewhat overshadowed the latest monthly jobs report - Dow fell -345-points or -1.07%, its fourth straight day of declines to record its longest losing st...

US equity markets declined as investors turned their attention to tonight’s AEST latest official jobs figures - Dow fell -544-points or -1.66% to 32,255, closing below its 200-day moving average for the first time since 9 November last year The broader S&P500 -1.85%, Financials (down -4.17%) led all eleven primary sectors lower, with the sector posting its worst single-session decline since Ju...

US equity markets settled modestly higher as markets digested further remarks from Federal Reserve chair Jerome Powell on the pace and duration of higher interest rate rises to fight inflation.- Dow eased -58-points or -0.18%, with Merck & Co Inc (down -2.68%) and Travelers Companies Inc (-1.44%) The broader S&P500 edged +0.14% higher, with Real Estate (up +1.32%) and Information Technolog...

US equity markets mixed, relinquishing earlier session gains as investors eyed a busy week on the economic calendar - Dow added +40-points or +0.12%, paring an earlier gain of as much as +181-points. Merck & Co Inc rallied +3.95% after the Food and Drug Administration (FDA) approved the addition of the intramuscular (IM) route of administration for the company’s MMRV (Measles, Mumps, and Rubel...

US equity markets rallied, recording their biggest one-day gains in at least a month on Friday (3 March) after Treasury yields retreated from recent highs ahead of a week that sees the US labour market take centra stage - Dow gained +387-points or +1.17%, The broader S&P500 rose +1.61%, with Information Technology (up +2.14%), Consumer Discretionary (+2.12%) and Communication Services (+2.10%)...

US equity markets climbed despite economic data exacerbating concerns that interest rates are set to stay higher for longer than previously forecast - Dow gained +342-points or +1.05% to 33,003.57. Salesforce Inc jumped +11.50% after the cloud client relationship management software group comfortably exceeded fourth quarter earnings per share (EPS) and revenue forecasts after the close of the prev...

A mixed start to March for US equity markets - Dow inched +5-points higher. 3M Co gained +2.29%, rebounding from a five month low after the maker of consumer, industrial and healthcare products said the U.S. Department of Defence’s records show that the “vast majority” of the 175,000 claimants in litigation over the company’s Combat Arms earplugs have “no hearing impairment” under American Medical...

The benchmark US indices retreated to round out a tough month for equity markets - Dow fell -232-points or -0.71% to 32,656.70, settling at its lowest level of 2023 to date (and logging its lowest close since 9 November). Goldman Sachs Group Inc fell -3.80% after hosting their 2023 investor day, with Chief Executive David Solomon acknowledging mistakes in an ill-fated foray into consumer banking a...

US equity markets settled with modest gains after the benchmark indices recorded their worst weekly performance of 2023 last week - Dow added +72-points or +0.22%, The broader S&P500 gained +0.31%, with Consumer Discretionary (up +1.18%) and Industrials (+0.83%) leading seven of the eleven primary sectors higher overnight. More defensive sectors underperformed, with Utilities (down -0.77%), He...

US equity markets fell on Friday (24 February) to wrap up their worst weekly performance of 2023 as the latest economic data was seen cementing expectations the Federal Reserve will continue lifting its key interest rate above >5% in its effort to bring down inflation - Dow down -337-points or -1.02%, dropping over >500-points at its session lows on Friday (24 February). Boeing Co fell -4.8%...

US equity markets advanced, with the S&P500 snapping a four session losing streak after a choppy session as investors continued to weight the path of Federal Reserve interest rate hikes - Dow up +109-points or +0.33%, Boeing Co fell over >2.5% in extended trading (after a +1.15% gain in the regular session) after the company and the Federal Aviation Administration reported a temporary halt...

US equity markets modesty weaker as investors digested the minutes of the Federal Reserve’s most recent monetary policy meeting - Dow eased -85-points or -0.26%, The broader S&P500 slipped -0.16% to extend losses into a fourth straight session, with Real Estate (down -1.02%) and Energy (-0.77%) leading nine of the eleven primary sectors lower. Materials (up +0.68%) and Consumer Discretionary (...

US equity markets resumed trading following the Presidents Day holiday and booked their worst single session declines since 15 December last year as a fresh rise in Treasury yields continued to pressure market sentiment - Dow fell -697-points or -2.06%, The broader S&P500 -2.00% to 3,997.34, falling for a third consecutive session and erasing all of February’s gains. The index also cut its 202...

US equity and bond markets were CLOSED overnight in observance of the Presidents Day holiday. On the geopolitical front, tensions between the US and China were ratcheted up as US Secretary of State Antony Blinken warned top Chinese diplomat Wang Yi of consequences should Beijing provide material support to Russia's invasion of Ukraine after the men met on the sidelines of the Munich Security Confe...

US equity markets mostly weaker on Friday (17 February) as robust economic data and hawkish commentary from Federal Reserve officials continued to fan investor fears that the Federal Reserve will need to apply a brake to the US economy for longer than anticipated just last month - Dow rose +130-points or +0.39%, with biotechnology company Amgen Inc (up +2.69%) and diversified health care company U...

US equity markets retreated amid fresh evidence of stubborn inflation, and following some hawkish commentary from Federal Reserve speakers - Dow fell -431-points or -1.3%, Microsoft Corp and Walt Disney Co contributed the most to the Dow’s decline, down -2.66% and -3.12% respectively. The broader S&P500 shed -1.4%, with Consumer Discretionary (down -2.16%), Information Technology (-1.75%) and...

US equity markets advanced as investors digested stronger-than-expected retail sales figures for January, the latest in a string of economic data that has fuelled investor bets that the Federal Reserve will have to raise interest rates further to curb inflation - Dow edged +39-points or +0.11%, rallying more than >250-points from its intrasession low. The broader S&P500 +0.28%, with Communi...

US equity markets settled modestly weaker as investors parsed the latest inflation figures - Dow fell -157-points or -0.46%, Boeing Co (up +1.30%) The broader S&P500 dipped -0.03%, with Real Estate (down -1.04%) and Consumer Staples (-0.93%) leading seven of the eleven primary sectors lower. Consumer Discretionary (up +1.18%) sat atop the primary sector leaderboard. Ford Motor Co (down -0.92%)...

US equity markets advanced as investors’ attention turned to tonight’s AEST January inflation figures - Dow rose +377-points or +1.11% , underpinned by solid gains for Microsoft Corp (up +3.12%), Nike Inc (+2.39%), Salesforce (+2.42%) and Intel Corp (+2.70%). The broader S&P500 climbed +1.14% , with Information Technology (up +1.77%), Consumer Discretionary (+1.46%) , Consumer Staples (+1.17%)...

US equity markets retreated on Friday (10 February) as investors digested mixed corporate earnings and eyed the latest inflation figures later this week - Dow rose +169-points or +0.50%, The broader S&P500 added +0.22%, with Energy (up +3.92%) leading eight of the eleven primary sectors higher. ConocoPhillips rallied +4.67% and ExxonMobil Corp +4.22%. The Nasdaq eased -0.61%. The small capital...

US equity markets retreated, reversing earlier session gains - Dow fell -249-points or -0.73%, unwinding an earlier rally of over >300-points. Walt Disney Co fell -1.27% after the entertainment giant topped fiscal first-quarter expectations, and Chief Executive Bob Iger announced significant restructuring plans after the close of the previous session. Activist investor Nelson Peltz also called...