Morgans Financial Limited

Morgans AM: Monday 7 December 2020


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US equity markets swept to fresh records to close the week as slowing jobs growth raised investors’ expectations for a new fiscal relief bill to help revive the coronavirus-hit economy - Dow gained +249-points or +0.83% to 30,218.26, with Chevron Corp (up +3.9%) and Caterpillar Inc (+4.3%) the leading index performers. However, Boeing Co fell 1.89% as a top company executive said the company is reducing production of its 787 Dreamliner for the fourth time in 18 months. The broader S&P500 +0.88% to 3,699.12. The Energy sector (up +5.43%) was again atop the primary sector leaderboard as cyclical sectors led the gains. Utilities (down -1.04%) and Consumer Discretionary (-0.13%) were the only primary sectors not to advance. The technology-centric Nasdaq +0.70% to 12,464.23 despite . The small capitalisation Russell 2000 index jumped +2.4% to 1,895.45. The last time all four indexes closed at a record on the same day was 22 January, 2018, according to Dow Jones Market Data.
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