Morgans AM

Morgans AM: Monday 20 April 2020


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US equity markets extended their rally to cap a solid shortened trading week - Dow up +705-points or +2.99% Boeing Co jumped +14.7% after the airplane maker said it would resume production in the Seattle area as early as 20 April. The aerospace and defense company also announced after the close of last Friday’s session (17 April) that said it will resume all commercial-airplane production at its Puget Sound, Washington state-area facilities in "a phased approach this week. The broader S&P500 gained +2.68% (to 2,874.56 and settled above its 50-day moving average). Ford Motor Co gained +3.64% after raising US$8B from corporate debt investors to shore up its balance sheet. The move came after the automotive company lost its investment grade status last month and will see Ford pay investors interest of between 8.50% and 9.625% on the new debt securities (having sold similarly-dated securities with a yield of under 50% of its coronavirus declines. The Nasdaq gained +6.09%.
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Morgans AMBy Morgans Financial Limited


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