Morgans Financial Limited

Morgans AM: Friday 8 November 2019


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Fresh record highs for both the Dow Jones Industrial Average and S&P500 indices as investors responded to news to of progress on US-China trade talks- Dow up +182-points or +0.66% to 27,678.1 and fresh all-time high. The broader S&P500 +0.27% to 3,085.18 - also a fresh record high - with Energy (up +1.58%) back atop the leading sector performers. The more defensive Utilities (down -1.35%) and Real Estate (1.085%) sectors lagged once again. The technology-centric NASDAQ added +0.29% to 8,434, just falling short of a record high. US-traded shares of Baidu Inc rallied 13.52% after the Chinese internet giant reported sales and earnings growth Wednesday (6 November) evening that surpassed Wall Street estimates. However, Expedia Group Inc slumped -27.39% after the travel website reported worse-than-expected earnings results after the close of trade Wednesday (6 November).The small capitalisation Russell 2000 index rose 0.26% to 1,593.99.
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