Friday, 25 November 2022: European bourses extended their recent rally in thin volume trade
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
4d ago
European bourses extended their recent rally in thin volume trade, with the Chemicals sector (up +1.1%) leading all major sectors into positive territory and lifting the pan-European Stoxx 600 index (which includes UK equities) +0.46%. Germany's DAX gained +0.78%. France's CAC added +0.42%. Remy Cointreau dipped -0.06% despite reporting a stronger-than-expected +27.2% organic jump in first-half operating profit, driven by strong demand for its premium cognac in China and the US and cost controls. In broader stock moves, Credit Suisse Group AG (down -1.91%) confirmed the final terms of its 4B S ..read more
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Wednesday, 23 November 2022: US equity markets rallied as investors looked past a fresh tightening of COVID-19 policies
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
5d ago
US equity markets rallied as investors looked past a fresh tightening of COVID policies in China and the latest downgraded economic growth forecasts from the Organisation of Economic Development (OECD), and focussed on some upbeat quarterly results from a number of retailers - Dow rose +398-points or +1.18%, The broader S&P500 climbed +1.36% to 4,003.58, settling above 4,000 for the first time since September. Energy (up +3.18%) and Materials (+2.23) both rallied over >2% to lead all eleven primary sectors higher. The Nasdaq +1.36%. The small capitalisation Russell 2000 +1.16 ..read more
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Tuesday, 22 November 2022: US equity markets after a choppy session to open the holiday-shortened trading week
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
1w ago
US equity markets after a choppy session to open the holiday-shortened trading week - Dow fell -45-points or -0.13%, Walt Disney Co rose +6.30% after announcing that Chief Executive Officer (CEO) Bob Chapek is stepping down from the post and will be replaced by his predecessor, Robert Iger. Mr Iger served as Disney’s CEO from 2005-2020, and has served as executive chairman and chairman of the board since 2021. The broader S&P500 -0.39%, with Consumer Discretionary (down -1.41%), Energy (-1.39%) and Information Technology (-1.13%) all falling over >1% and leading four of the eleven prima ..read more
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Friday, 18 November 2022: US equity markets logged their first back-to-back losses in two weeks
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
1w ago
US equity markets logged their first back-to-back losses in two weeks following some hawkish commentary from Federal Reserve officials - Dow dipped -8-points, The broader S&P500 -0.31%, with Utilities (down -1.79%) and Consumer Discretionary (-1.27%) leading eight of the eleven primary sectors lower. Information Technology sat atop the primary sector leaderboard with a +0.21% rise. General Motors (up +0.17%) hosted its annual investor day and raised its full year guidance, noting it expects its electric vehicle (EV) portfolio in North American to be profitable in a couple of years as it ra ..read more
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Thursday, 17 November 2022
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
1w ago
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Wednesday, 16 November 2022: US equity markets advanced, climbing late in the session
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
1w ago
US equity markets advanced, climbing late in the session as investors pondered a cooler-than-expected wholesale inflation report and some upbeat earnings from major retailers - Dow added +56-points or +0.17%, The broader S&P500 rose +0.87%, with seven of the eleven primary sectors recording gains of over >1%. Only two primary sectors – Materials (down -0.11%) and Health Care (-0.07%) – settle in the red. The technology-centric Nasdaq rallied +1.45%. The small capitalisation Russell 2000 gained +1.50 ..read more
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Tuesday, 15 November 2022: US equity markets retreated, with losses accelerating in the final hour of trading
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
2w ago
US equity markets retreated, with losses accelerating in the final hour of trading - Dow fell -211-points or -0.63%, The broader S&P500 -0.89%, with Real Estate (down -2.65%), Consumer Discretionary (-1.71%) and Financials (-1.54%) leading ten of the eleven primary sectors lower. Health Care eked out a +0.03% gain to be the only primary sector to advance. The Nasdaq lost -1.13%. Amazon.com Inc (down -2.28%) is reportedly the latest big tech name poised to announce employee layoffs. The company is expected to announce it is cutting ~10K employees as soon as this week – which would be the la ..read more
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Monday, 14 November 2022: US equity markets extended their rally to cap a strong week
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
2w ago
US equity markets extended their rally to cap a strong week that saw a cooler-than-expected October inflation print fuel speculation that the Federal Reserve may slow the pace of monetary policy tightening - Dow edged +32-points or +0.10% higher. Walgreens Boots Alliance Inc jumped +7.2% after Deutsche Bank upgraded the stock to ‘buy’ from ‘hold’. Walt Disney Co (up +5.03%) plans to institute a targeted hiring freeze as well as some job cuts, according to an internal memo sent to executives on Friday (11 November). The news comes after Chief Financial Officer Christine McCarthy said during Dis ..read more
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Friday, 11 November 2022: US equity markets soared
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
2w ago
US equity markets soared, logging their single session gains since stocks were emerging from the depths of the pandemic bear market 2020 following a cooler-than-expected October inflation report - Dow soared +1,201.43-points or +3.70%, with Salesforce Inc (up +10.02%) and Apple Inc (+8.90%) combining for an ~171-point bump for the bluechip index. The broader S&P500 +5.54%, recording its biggest one-day rally since April 2020. Information Technology (up +8.33%), Real Estate (+7.74%) and Consumer Discretionary (+7.70%) all climbed over >7% to lead all eleven primary sectors solidly higher ..read more
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Thursday, 10 November 2022: US equity markets retreated ahead of the key inflation figures
Morgans AM | Morgans Financial Limited
by Morgans Financial Limited
2w ago
Regards US equity markets retreated ahead of the key inflation figures for October tonight AEST, and as the midterm elections provided no clear answers and with control of Congress still hanging in the balance - Dow fell -647-points or -1.95%, Walt Disney Co slumped -13.15% after the entertainment giant posted lower-than-expected earnings per share (US$0.30c versus consensus US$0.55c) and revenue (US$20.15B versus consensus US$21.24B) for the fiscal fourth quarter after the closing bell of the previous session. The broader S&P500 dropped -2.08%, with Energy (down -4.88%), Consumer Discreti ..read more
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