Morgans Financial Limited

Morgans AM: Monday, 17 January 2022


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Major bank stocks weighed on US equity markets on Friday (14 January) to cap a volatile week - Dow fell -202-points or -0.56%, dragged lower by declines for investment banks Goldman Sachs Group Inc (down -2.52%) and JPMorgan Chase & Co (-6.15%), and credit card and travel services group American Express Co (-2.82%) . The broader S&P500 eked out a +0.08% gain, with Energy gaining +2.44% to extend a strong week for the sector. Real Estate (down -1.18%) and Financials (-1.01%) both fell over >1% to be the worst performing sectors. Casino stocks climbed after Macau’s government announced on Friday (14 January) it would allow just six casino licenses in the gambling hub. Las Vegas Sands Corp jumped +14.15% and Wynn Resorts Ltd +8.60%. The Nasdaq rose +0.59%. Netflix Inc rose +1.25% after announcing a price increase for U.S. and Canadian subscribers. The small capitalisation Russell 2000 edged +0.14% higher.
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