Morgans Financial Limited

Morgans AM: Friday, 24 February 2023


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US equity markets advanced, with the S&P500 snapping a four session losing streak after a choppy session as investors continued to weight the path of Federal Reserve interest rate hikes - Dow up +109-points or +0.33%, Boeing Co fell over >2.5% in extended trading (after a +1.15% gain in the regular session) after the company and the Federal Aviation Administration reported a temporary halt to deliveries of its 787 Dreamliners so it can do additional analysis on a fuselage component. The broader S&P500 rose +0.53%, with Information Technology (+1.63%) and Energy (+1.3%) leading seven of the eleven primary sectors higher. The Nasdaq rose +0.72%. Nvidia Corp soared +14.02% - extending the year-to-date rally to +59% - as investors continued to cheer the chipmaker’s fiscal fourth quarter released after the close of the previous session and the growth opportunities presented by artificial intelligence (AI). The small capitalisation Russell 2000 gained +0.71%.
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