Morgans Financial Limited

Morgans AM: Friday, 12 November 2021


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US equity markets mixed in the wake of the October inflation report released in the previous session - Dow down -159-points or -0.44% . Walt Disney Co fell -7.07% - its worst daily performance since June 2020- after the company reported after the closing bell of the previous session, with fiscal fourth quarter earnings per share and revenue falling short of Wall Street’s expectations, while Disney+ added a less-than-expected +2.1M subscribers. The broader S&P500 edged +0.10% higher, with Materials (up +0.85%) leading six of the eleven primary sectors higher. Tesla Inc lost -0.42%, with a Securities and Exchange Commission filling showing Chief Executive Officer (CEO) Elon Musk sold more than 4.5 million shares of the electric-vehicle maker for close to US$5B. The technology centric Nasdaq rebounded +0.57%. Chipmakers NVIDIA Corp (up +3.16%) and Advanced Micro Devices (+4.39%) logged solid gains. The small capitalisation Russell 2000 +0.82%.
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