Morgans AM

•US equity markets fell sharply, with investors rattled by the risk of energy sanctions cascading through the economy - Dow dropped -797-points or -2.37%, with American Express Co (down -7.99%) the worst index performer. The broader S&P500 shed -2.95%, pushing deeper into official correction territory (down more than >12% from its most recent record close). Energy (up +1.57%) was once again the be...

US equity markets retreated and bond markets rallied on Friday (4 March) as investors sought out havens amid the escalating war between Russia and Ukraine - Dow down -180-points or -0.53%, paring an earlier decline of over >500-points. American Express Co (down -3.86%), JPMorgan Chase & Co (down 2.81%) and Goldman Sachs Group Inc (-1.12%) were notable laggards. However, more defensive names like W...

Technology stocks weighed on US equity markets - Dow down -97-points or -0.29% after trading in positive territory for much of the session. The broader S&P500 settled -0.53% lower, with Consumer Discretionary (-2.29%) and Information Technology (-1.24%) leading four of the eleven primary sectors lower. More defensive sectors outperformed overnight, with Utilities (up +1.72%) and Real Estate (+1.10...

US equity markets rebounded sharply and a powerful rally in debt markets reversed as Federal Reserve chair Jay Powell signalled that the US central bank would raise interest rates this month despite economic uncertainty created by Russia’s invasion of Ukraine - Dow up +596-points or +1.79%, with all 30 index components advancing. Caterpillar Inc (up +5.35%), Intel Corp (+4.38%) and Goldman Sachs G...

US equity markets retreated as the military conflict in Ukraine showed no signs of abating, with Russia stepping up its bombardment of Ukraine’s biggest cities and traders seeking shelter from risk asset - Dow fell -598-points or -1.76%, paring an earlier -785-point drop. American Express was the worst performing Dow constituent overnight, down -8.47%. Goldman Sachs Group Inc and JPMorgan Chase &...

US equity markets modestly weaker as new sanctions imposed on Russia reverberated through financial markets - Dow down -166-points or -0.49%, paring an earlier. JPMorgan Chase & Co (down -4.17%) and Goldman Sachs Group Inc (-2.52%) combined to knock ~100-points off the Dow. Nike Inc (down-1.62%), Visa Inc (-1.44%), and Procter & Gamble (-1.49%) also weighed heavily on the index. A US$1 move in any...

US equity markets rallied on Friday (25 February) as war in Ukraine raged, with investors watching for signs that the conflict with Russia would be contained to the two countries - Dow jumped +835-points or +2.51%, notching its best daily gain since early November 2020. Johnson & Johnson (up +%) and 3M Co (+%). The broader S&P500 +2.24%. Etsy Inc soared +16.21% after the online marketplace’s quart...

US equity markets staged a impressive comeback from steep declines earlier in the session, with the technology-centric Nasdaq registering its biggest intraday swing since the throes of the pandemic in March 2020 - Dow up +92-points or +0.28%, erasing an earlier -859-point/-2.6% drop The broader S&P500 gained +1.50%, recovering from an earlier session slide of as much as -2.6%. Information Technolo...

The Dow and S&P500 extended losses into a fifth consecutive session following a late-session sell-off as escalating tensions dragged the benchmark indices to fresh 2022 lows - Dow down -465-points or -1.38%, just avoiding falling into official correction territory. The broader S&P500 pushed further into official correction territory, falling -1.84% and unwinding an earlier rally of as much as +0.9...

US equity markets resumed trading after the Presidents’ Day long weekend firmly on the backfoot as the geopolitical developments between Russia and Ukraine continued to dent investor sentiment - Dow shed -483-points or -1.42% to its lowest close since 18 June last year (33,596.61) after falling more than >700-points earlier in the session. The broader S&P500 lost -1.01% to 4,304.76, the lowest clo...

European bourses relinquished opening gains to settle in the red, with the Automotive sector (down -2.7%) leading the pan-European Stoxx 600 index (which includes UK equities) -1.30% lower. Germany's DAX fell -2.07%. France's CAC lost -2.04%. French car parts group Faurecia SE fell -5.40% despite forecasting a rise in annual sales, adding that it expected semiconductor shortages to ease from the s...

US equity markets weaker after another volatile session ahead the long weekend that saw tensions between Russia and Ukraine intensify and trillions of dollars in options and futures on stocks, indexes and exchange traded funds (ETF) expire - Dow down -233-points or -0.68%, with Intel Corp (down -5.32%) the biggest index laggard as Bank of America reiterated an ‘underperform rating’ on the company....

Fresh fears over Russia-Ukraine drove sharp declines for US equity markets, with the technology sector once again bearing the brunt of the losses - Dow dropped -622-points or -1.78%, logging its worst single session performance for the calendar year-to-date. The broader S&P500 shed -2.12%, with 85% of the index constituents declining and the slide ranking among the five worst trading days of the p...

US equity markets mixed as investors digested the latest Federal Reserve monetary policy meeting minutes and mixed messaging around the Russia-Ukraine tensions - Dow eased -55-points or -0.16%, paring an earlier decline of over >300-points. The broader S&P500 added +0.09%, recovering from an earlier ~0.7% fall. Energy up +0.76%) led ten of the eleven primary sectors higher, with Information Techno...

US equity markets climbed sharply (as Treasury yields rose and oil prices retreated) amid signs of an easing of tensions over Ukraine, with Russian President Vladimir Putin saying Moscow is ready for talks with North Atlantic Treaty Organisation (NATO) on limits to missile deployments in Europe following a meeting with German Chancellor Olaf Scholz, and following a claim that Russia is pulling bac...

US equity markets weaker after a choppy session, with stocks whipsawing on various news reports related to Ukraine - Dow fell -172-points or -0.49%, with pharmacy group Walgreens Boots Alliance Inc (down -2.75%), International Business Machines (IBM) Corp -1.91% and energy major Chevron Corp (-1.54%) among the notable drags on the index. The broader S&P500 lost -0.38%, with Energy (down -2.24%) le...

US equity markets retreated sharply in Friday’s (11 February) afternoon session (and crude prices jumped), with U.S. National Security Advisor Jake Sullivan advising at a White House briefing that took place ~2-hours before the close of trading that there were signs of Russian escalation at the Ukraine border - Dow down -504-points or -1.43% . The broader S&P500 shed -1.90%, with Information Techn...

US equity markets retreated, with technology stocks under renewed pressure as investors assessed another hot inflation report - Dow down -527-points or -1.47%. However, Walt Disney Co gained +3.35% after recording record first quarter revenue and better-than-expected adjusted earnings per share (EPS) after the close of the previous session. The broader S&P500 lost -1.81%, with Real Estate (down -2...

US equity markets advanced, underpinned by a further rebound for the technology sector - Dow up +305-points or +0.86% . The broader S&P500 +1.45%, with Communication Services (up +2.45%), Real Estate (+2.38%), Information Technology (2.31%) and Materials (+2.13%) all climbing over >2% to lead all eleven primary sectors higher. The technology-centric Nasdaq +2.08%, settling over >8% above its 27 Ja...

US equity markets rallied, shrugging off the latest climb in Treasury yields - Dow up +372-points or +1.06%, with American Express (up +3.3%) and JPMorgan Chase & Co (+%) notable index performers. The broader S&P500 +0.84%, reversing earlier losses as investors rotated into materials, technology, and financial stocks. It was a broad rally, with gainers in the S&P 500 outnumbering decliners by more...

A weaker start to the new trading week for US equity markets - Dow unchanged . The broader S&P500 eased -0.37% despite another strong session for the Energy sector (up +1.31%). Communication Services (down -2.24%) was the worst performing primary sector overnight along with Information Technology (-0.66%). The Nasdaq down -0.58%. Facebook-parent Meta Platforms Inc fell -5.14% and has dropped ~30%...

US equity markets mostly firmer on Friday (4 January) - Dow slipped -21-points or -0.06%, with declines in UnitedHealth Group Inc (down -1.15%), Home Depot Inc (-1.41%) and 3M Co (-2.23%) overshadowing solid gains for Goldman Sachs Group Inc (up +2.43%) and Salesforce.com Inc (+3.04%). The broader S&P500 added +0.52%, with the Consumer Discretionary sector (up +3.74%) leading five of the eleven pr...

US equity markets declined as some major technology earnings continued to rattle investor sentiment - Dow dropped -518-points or -1.45% . The broader S&P500 shed -2.44%, snapping a four session rally and recording its biggest daily drop since February 2021. Communication Services tumbled -6.83% to lead ten of the eleven primary sectors lower, while Consumer Discretionary (down -3.57%) and Informat...

US equity markets advanced however there were some steep earnings release-related declines after the closing bell - Dow up +224-points or +0.63% . The broader S&P500 gained +0.94% with Communication Services (up +3.09%) leading ten of the eleven primary sectors higher. Consumer Discretionary (down -0.53%) was the only primary sector to close in the red. PayPal Inc slumped -24.6% after the payments...

US equity markets built on a two-day rally after a volatile January, opening February on a positive note - Dow up +273-points or +0.78% . Goldman Sachs Group Inc and JPMorgan Chase & Co gained +2.64% and +1.72% respectively. The broader S&P500 +0.69%, with Energy returning to the top of the primary sector leaderboard overnight with a +3.54% gain and leading eight of the eleven primary sector lower...