Morgans Financial Limited

Morgans AM: Monday 23 September 2019


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US equity markets retreated as trade concerns continue to unsettle investors - Dow down -160-points or -0.59% The broader S&P500 -0.49%, NASDAQ -0.80%, with Apple Inc down -1.46% as the new iPhone 11 went on sale for the first time in stores. Netflix Inc fell for a third straight session (down -5.83%), with Chief Executive Officer (CEO) Reed Hastings warning investors at a conference last Friday (20 September) that “While we’ve been competing with many people in the last decade, it’s a whole new world starting in November . . . It’ll be tough competition.” Roku Inc tumbled -19.22% after a research analyst at Pivotal Research distributed a note pondering if the streaming-device maker was “broken.” Last Friday's (20 September) trading session marked "quadruple witching", the simultaneous expiry of stock-index futures, stock-index options, stock options and stock futures, which also stoked some volatility. For the week, the Dow lost -1.05%, S&P500 -0.51% and Nasdaq -0.72%.
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