Morgans AM

US equity markets fell sharply on Tuesday, with tech names dragging down the broader markets as Treasury yields traded near three-month highs and lawmakers in Washington continued their budget stalemate. The Dow Jones Industrial Average lost -569 points, or -1.63%, to close at 34,299. The S&P 500 shed -2.04% to finish at 4,352. The Nasdaq Composite was belted down 2.83% to 14,546 for its worst day...

U.S. stocks were split on Monday as a rise in treasury yields pressured growth names and traders braced for the final week of a volatile September. The Dow Jones Industrial Average rose by +71 points or +0.20% to 34,869 as energy stocks and bank shares pushed higher. The broader S&P 500 slipped by -0.28% and the Nasdaq shed -0.52% as major tech stocks including Alphabet (-0.10%), Apple (-1.05%), M...

US markets rose for a third straight session on Friday, clinching weekly gains despite uncertainty over the fate of indebted property giant China Evergrande Group. The Dow gained +33 points, or +0.10%, to 34,798. The broader S&P 500 edged +0.15% higher and the Nasdaq ticked down just -0.03%. The small capitalisation Russell 2000 fell -0.49%. For the week, the Dow was up +0.60%, the S&P 500 gained...

US equity markets jumped for a second day as fears around a crisis in China’s property market eased somewhat and as the Federal Reserve kept current monetary stimulus in place. The Dow Jones gained +506.50 points, or +1.48%, to 34,764.82, with steady buying throughout the day. Thursday’s rally adds to a 338-point gain in the prior session. The S&P 500 rose +53.34 or 1.21% to 4,448.98 and the Nasda...

US equity markets rallied on Wednesday after the Federal Reserve indicated it doesn’t see an imminent rollback of the monetary stimulus that has been supporting the economy throughout the pandemic. The Dow Jones advanced +338.48 points, or 1%, to 34,258.32, snapping a four-day losing streak. However, the blue-chip Dow closed well off its high, as it jumped 520 points earlier in the day. The S&P 50...

US equity markets fought to rebound from Monday’s rout, but failed as the Dow Jones trended lower for most of the session and closed in the red. The Dow Jones lost -50.63 points, or -0.15%, to 33,919.84. The S&P 500 shed about 0.1% to 4,354.19, following its worst day since May on Monday. However, the Nasdaq Composite rose 0.2% to 14,746.40 as investors bought some major tech shares like Apple on...

US equity markets retreated to close out a volatile week of trading, with Friday night (17 September) a “quadruple witching” session - the simultaneous expiration of individual stock options, stock-index options, stock-index futures and single-stock futures – which brought some additional volume and volatility - Dow fell -166-points or -0.48% . The broader S&P500 lost -0.91% to 4,432.99, with the...

US equity markets began the week deeply in the red as investors continued to flock to the sidelines in September amid several emerging risks for the market. The Dow Jones lost -614.41 points, or -1.8%, to 33,970.47 for its biggest one day drop since July 19. The 30-stock average was down 971 points at one point during the day. The S&P 500 fell -75 points or -1.7% to 4,357.73, posting its worst dai...

US equity markets logged modest losses, settling well off their session lows as investors digested some mixed economic data - Dow eased +63-points or -0.18%, paring an earlier decline of as much as -274-points. The broader S&P500 slipped -0.16%. Materials (down -1.09%) and Energy (-1.06%) both fell over >1% to lead eight of the eleven primary sectors lower. Consumer Discretionary (up +0.44%), Real...

US equity markets rebounded, buoyed by some solid economic data and fresh gains on crude markets - Dow up +237-points or +0.68% . The broader S&P500 gained +0.85%, with Energy (up +3.82%) leading ten of the eleven primary sectors higher. Utilities (down –0.15%) was the only primary sector to close in the red. Gaming companies were under pressure, tracking falls on the Hong Kong market following ne...

US equity markets retreated despite cooler-than-expected August inflation figures - Dow fell -292-points or -0.84% . Boeing Co (down -1.36%) released their annual market outlook overnight and predicts the global fleet of commercial airplanes will climb from 25,900 in 2019 to 49,405 planes by 2040, with almost 90% those planes being new models that will enter service over the period. In addition, B...

The Dow and S&P500 snapped a five session losing streak - Dow up +262-points or +0.76%, with 23 of the indice’s 30 components advancing . The broader S&P500 added +0.23%. Energy (up +2.94%) led eight of the eleven primary sectors higher. Health Care (down -0.61%) was the worst performing primary sector overnight. The Nasdaq dipped -0.07%, extending its decline into a fourth consecutive session. Ap...

US equity markets fell on Friday night AEST (10 September) to cap their worst week in nearly three months as renewed concerns about inflation dented optimism over continued central bank support for financial markets - Dow down -272-points or -0.78% . Apple Inc fell -3.31% after a federal judge in the Epic Games Inc case issued an injunction that said the company can no longer force developers to u...

Dow and S&P500 extended their decline into a fourth straight session overnight - Dow down -152-points or -0.43% . The broader S&P500 settled -0.46% lower. Real Estate (down -2.12%) was the worst performing primary sector. The Financials sector (up +0.25). Ford Motor (down -2.07%) announced that it is ending vehicle production in India, shutting down its two large plants there and terminating thous...

The Dow and S&P500 declined for a third straight session - Dow down -69-points or -0.20% . The broader S&P500 slipped -0.13%, with Energy (down -1.30%) and Materials (-1.02%) both falling over >1%. More defensive sectors outperformed, including Utilities (up +1.79%) and Consumer Staples (+0.77%). Swiss investment bank UBS raised its S&P 500 price target for the end of the year to 4,650 and for 202...

US equity markets logged a mixed session after resuming trading following the Labor Day holiday - Dow fell -269-points or -0.76%, with 3M Co (down -4.53%) and Honeywell International Inc (-2.38%). Boeing Co fell -1.80% after budget airline Ryanair Holdings Plc (-1.96%) ended talks over a purchase of 737 MAX 10 jets. The broader S&P500 eased -0.34%. Ford Motor Co rose +0.47% after the company annou...

AUD softer - buying ~74.37 US cents. The Reserve Bank of Australia (RBA) announces its latest interest rate decision this afternoon and is expected to leave their benchmark rate unchanged (with more focus likely to be on any commentary around their bond buying stimulus programme). A final reading of Building Permits for July and the Ai Group Services index for August are also on today’s Australian...

US equity markets were modestly weaker on Friday night as investors grappled with the implications of a much weaker than expected US jobs report for August, with some market participants betting weaker data could undercut the case for the Federal Reserve to unwind its market-supportive easy money policies in coming months - Dow down -74-points or -0.21%, with American Express Co (down -1.70%) the...

S&P500 and Nasdaq booked fresh record closing highs as attention turns to tonight’s AEST August jobs data - Dow up +131-points or +0.37% . The broader S&P500 added +0.28% to 4,536.95, touching a record intraday high of 4,545.85 earlier in the session. Energy (up +2.53%) led eight of the elven primary sectors higher, with Health Care (+1.08%) and Industrials (+1.02%) both rising over >1%. The globa...

US equity markets logged modest gains, with the technology-centric Nasdaq booking a fresh record closing high - Dow down -48points or -0.14% . The broader S&P500 inched +0.03% higher, trading above its 30 August record closing high (4,528.79) earlier in the session. The Nasdaq added +0.33% to 15,309.38 to book its 33rd record closing high of 2021. Apple Inc rose +0.45%, with the The Wall Street Jo...

The S&P 500 and the Nasdaq Composite booked fresh closing records to open the new trading week - Dow down -56-points or -0.16% . The broader S&P500 added +0.43% to 4,528.79, logging its 53rd record closing high this year after establishing a fresh intraday record high (4,537.36) earlier in the session. Before this year, only 1964 and 1995 saw more than 50 new highs before August was over. The reco...

US equity markets and government bonds rallied in response to Federal Reserve Chair Jerome Powell cementing expectations that the central bank will begin a slow removal of its crisis-era stimulus measures later this year - Dow up +243-points or +0.69%. The broader S&P500 gained +0.88% to 4,509.37, logging its 52nd record closing high this year Energy (up +2.62%) returned to the top of the primary...

US equity markets retreated as investors weighed second quarter economic growth data and eyed Federal Reserve Chair Jerome Powell’s address at the Jackson Hole Economic Symposium on "the economic outlook" tonight AEST - Dow down -192-points or -0.54%. Cloud-based customer-relationship management company Salesforce.com Inc outperformed with a +2.66% gain following a strong second quarter result aft...

Fresh record highs for both the S&P500 and Nasdaq ahead of the Jackson Hole Economic Symposium tonight AEST - Dow up +39-points or +0.11% 35,405.5 and ~0.62% shy of its all time closing high (35,625.40) set on 16 August. The broader S&P500 edged +0.22% higher to 4,496.19, logging 51st record closing high this year and matching the greatest number of closing records to this point in a calendar year...