Morgans Financial Limited

Morgans AM: Friday, 20 August 2021


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US equity markets mixed after another choppy session, with concerns about the impact of the Delta variant of the coronavirus and the Federal Reserve’s latest monetary policy meeting minutes continuing to reverberate - Dow lost -67-points or -0.19%, paring an earlier decline of as much as -270 points. The Dow booked its third straight drop, representing its longest bout of losses since the five-session period ended 18 June. The broader S&P500 edged +0.13% higher, with Information Technology (up +0.99%) leading six of the eleven primary sectors higher. Energy (down -2.65%) sat at the bottom of the primary sector leaderboard for a second consecutive session. Tesla Inc fell -2.25% ahead of the company showcasing its autonomous driving and artificial intelligence efforts at its Artificial Intelligence Day. The Nasdaq +0.11%. NVIDIA Corp gained +3.98% after the chip maker’s earnings, revenue and outlook released after the close of Wednesday’s (18 August) session topped Wall Street estimates. The small capitalisation Russell 2000 lost -1.22% and is nearing official correction territory, down almost 10% from its March high.
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