Morgans AM

Another round of fresh record closing highs for all three benchmark US equity indices amid better-than-expected earnings reports ahead of a Federal Reserve policy statement tomorrow morning AEST - Dow up +139-points or +0.39% at 36,052.63, settling above 36,000 for the first time. It was 71 trading days since the Dow last cleared a 1,000-point milestone, marking the longest stretch between milesto...

Fresh record closing highs for all three benchmark US equity indices to kick off November and ahead of a busy week of US corporate earnings and key economic data and central bank meetings - Dow up +94-points or +0.26% to 35,913.84, briefly trading above >36,000 for the first time earlier in the session and with Boeing Co (up +3.65%) and Dow Inc (+2.63%) among the leading index performers. The broa...

Record closing highs for all three benchmark US equity indices to close out the week and month, with a late rally seeing the market retrace earlier losses and shrugging off some disappointing corporate results from some major technology companies after the close of last Thursday’s (28 October) session - Dow up +89-points or +0.25% to settle at a fresh record closing high of 35,819.56. The broader...

Record closing highs for both the S&P500 and Nasdaq amid a broad-based rally despite some lacklustre economic data - Dow up +240-points or +0.68% to 35,730.48 The broader S&P500 gained +0.98% to a record closing high of 4,596.42, with all of Real Estate (up +1.447%), Consumer Discretionary (+1.37%), Industrials (+1.29%), Financials (+1.24%), Information Technology (+1.06%) and Materials (+1.02%) g...

US equity markets fell as some of the recent momentum around positive corporate earnings faded - Dow down -266-points or -0.74%, snapping a three session winning streak that had lifted the index to a record closing high (35,756.88) a day earlier. Visa Inc shed -6.92% after the payments company issued a conservative revenue outlook during as part of its quarterly earnings report after the close of...

Both the Dow and S&P500 eked out fresh record highs ahead of another wave of notable corporate earnings releases after the close of the session - Dow up +16-points or +0.04% to 35,756.88, after rising to an record intraday high of 35,892.92 (up ~150-points) in earlier trading. The broader S&P500 edged +0.08% higher to 4,574.79, after hitting a fresh intraday record of 4,598.53. The Nasdaq +0.09% t...

Both the Dow and S&P500 hit fresh record highs as earnings season kicked in to high gear in one of the heaviest reporting weeks of the quarter, with bellwethers in multiple sectors poised to announce results - Dow up +64-points or +0.18% to 35,741.15, after establishing a new all-time intraday record at 35,787.04. The broader S&P500 added +0.47% to 4,566.48 and also hit a intra-day record high of...

US equity markets mixed on Friday night (22 October) as investors weighed strong corporate earnings against persistent concerns over elevated global inflation - Dow up +73-points or +0.21% to a record closing high of 35,677.02. The broader S&P500 dipped -0.11%, with falls for Communication Services (down -2.28%) and Consumer Discretionary (-0.66%) offsetting gains for Financials (up +1.33%) and En...

US equity markets firmer as strong corporate earnings bolstered the mood on Wall Street - Dow dipped -6-points, with IBM (down -%) The broader S&P500 added +0.30% to 4,459.78, booking its first record closing high in seven weeks after logging an intra-day record of 4,551.44. Consumer Discretionary (up +1.38%) led seven of the eleven primary sectors higher. Energy (down -1.85%) was the worst perfor...

US equity markets ticked higher amid some mixed reports around how corporates are managing inflationary pressures and supply chain issues - Dow gained +152-points or +0.43%, touching an all-time high of 35,669.69 earlier in the session. The broader S&P500 added +0.37% to log a sixth consecutive session advance, with Utilities (up +1.56%), Real Estate (+1.55%) and Health Care (+1.45%) all climbing...

US equity markets advanced as major companies continued to deliver solid third quarter earnings - Dow up +199-points or +0.56% . Walmart Inc gained +2.1% after Goldman Sachs added the big-box retailer to its conviction buy list, pointing to improved profitability and increased share of the U.S. grocery market saying the stock could rally nearly 40%. The broader S&P500 extended its rally into a fif...

Heavyweight technology names lifted US equity markets however global sentiment was dampened by official China data recording the slowest pace of economic growth in a year in the third quarter - Dow eased -36-points or -0.10%, paring an earlier decline of -123-points. The broader S&P500 added +0.34%, extending gains into a fourth straight session and representing its longest win streak since 25 Aug...

Better-than-expected corporate earnings continued to push US equity markets higher on Friday (15 October), with Goldman Sachs Group Inc (up +3.8%) capping a strong week for bank earnings - Dow up +382-points or +1.09% . The broader S&P500 +0.75% to 4,471.37, settling comfortably above its 50-day moving average (4,436.74). Alcoa Corp soared +15.2% after the aluminium producer reported stronger-than...

Strong, broad-based gains for US equity markets overnight following largely upbeat corporate earnings, including from some major banks and a couple of Dow components - Dow up +535-points or +1.56% to sit ~2.4% below its all-time high hit in early September.. The broader S&P500 gained +1.71%, climbing back above its 50-day moving average for the first time in 12 trading sessions. Materials (up +2.4...

US equity markets mixed as investors digested September inflation data, the latest Federal Reserve meeting minutes and the start of the third quarter earnings season - Dow flat, recovering from an earlier -260 point slide. The broader S&P500 edged +0.30% higher and snapped a three session losing streak, with Utilities (up +1.14%) leading nine of the eleven primary sectors higher. Financials (down...

US equity markets closed in the red for a third straight session, with selling again picking up into the close and with investors eying some key economic and corporate earnings releases tonight AEST - Dow down -143-points or -0.42%. Boeing Co (down -1.27%) reported that airplane deliveries rose to 35 in September following an uptick in domestic travel, albeit its 787 programme remains hobbled by s...

US equity markets retreated, with an earlier rally fizzling and selling picking up pace in the final hours of the session as investors continued to ponder inflation challenges amid a fresh rise in energy prices and as the US third quarter earnings season officially kicks off later this week - Dow down -250-points or -0.72%, unwinding an earlier rally of over >200-points. The broader S&P500 -0.69%,...

US equity markets closed a volatile week little changed on Friday night AEST (8 October) after another underwhelming jobs report left many investors scratching their heads - Dow dipped -9-points . The broader S&P500 slipped -0.19% despite a +3.13% gain for the Energy sector that lifted Exxon Mobil +2.51%, Chevron Corp +2.24% and Conocophillips +4.77%. R eal Estate fell -1.12% to lead nine of the e...

US equity markets advanced for a third day as lawmakers neared an agreement that would avert a debt-ceiling breach for at least two months - Dow up +338-points or +0.19%, with Visa Inc (up +1.78%), Nike Inc (+2.05%) and Home Depot Inc (+2.16%) The broader S&P500 gained +0.83%. Consumer Discretionary (up +1.50%), Materials (+1.35%) and Health Care (+1.23%) led ten of the eleven primary sectors high...

US equity markets climbed, buoyed by Senate Minority Leader Mitch McConnell saying the Republican party would support an extension of the federal debt ceiling into December - Dow rose +102-points or +0.30%, staging a 560-point U-turn to record its best intraday comeback since 21 December last year. The broader S&P500 gained +0.41%, recovering from an earlier session decline of -1.27%. Utilities (u...

US equity markets rallied despite surging energy prices intensifying inflationary pressures, sending Treasury yields higher - Dow up +312-points or +0.92%. Goldman Sachs Group Inc gained +3.12% as Treasury yields continued to climb. The broader S&P500 gained +1.05%, with Financials (up +1.77%), Communication Services (+1.59%), Information Technology (+1.46%) and Industrials (+1.10%) all climbing o...

US equity markets retreated amid a fresh rotation out of technology stocks amid rising bond yields - Dow lost -324-points or -0.94%. Merck & Company Inc rose +2.09%, building on an +8.37% gain in last Friday’s (1 October) session after the pharmaceutical major and partner Ridgeback Biotherapeutics said their oral antiviral treatment for COVID-19 reduced the risk of hospitalization or death by 50%...

US equity markets kicked off October with solid gains as news of a new oral treatment for Covid-19 boosted shares of companies tied to the economic recovery - Dow gained +483-points or +1.43% . The broader S&P500 rose +1.15%, with Energy (up +3.30%) leading ten of the eleven primary sectors higher. Communication Services (up +1.78%), Materials (+1.60%), Financials (+1.59%), Information Technology...

US equity markets fell sharply amid volatile end-of-month and quarter rebalancing activity and as inflation concerns continued to weigh on sentiment - Dow dropped -547-points or -1.59% . Boeing Co fell -2.41% despite a broker (Bernstein) upgrade, while Goldman Sachs Group Inc fell -1.78% and Home Depot Inc -2.57%. The broader S&P500 lost -1.19%, with Industrials (down -2.11%) leading all eleven pr...

US equity markets posted a modest rebound overnight a day after the S&P500 booked its worst daily percentage decline (-2.04%) since 12 May despite longer dated US Treasury yields climbing for a seventh straight session - Dow rose +91-points or +0.26%. Boeing Co rose +3.18% after winning a follow-on contract from the US Department of Defense valued at up to US$23.8B to provide services to a fleet o...