Morgans Financial Limited

Morgans AM: Friday 19 June 2020


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A mixed close for US equity markets as investors continued to weigh a resurgence in coronavirus infections and digested the latest weekly jobless claims figures - Dow down -40-points or -0.15%, with American Express Co (down -1.73%) and Goldman Sachs Group Inc (-1.14%) notable drags on the index. The broader S&P500 eked out a +0.06% gain, with Energy (up +1.20%) leading just four of the eleven primary sectors higher. Real Estate was the worst performing sector, down -1.34%. McDonald’s Corp (down -0.68%) said that it plans to hire 260,000 workers in the US this northern summer as states re-open amid the coronavirus pandemic. The technology-centric NASDAQ advanced for a fifth consecutive session, adding +0.33%. In broader corporate news, Francesca's Holdings Corp fell -2.99% after the retailer said there are doubts about its ability to continue as a going concern. Meanwhile, grocery retailer Albertsons Companies Inc said it expects its initial public offering (IPO) to raise ~US$1.51B, with 75.7M shares being sold by certain stockholders at a price range of US$18 to US$20.
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