Morgans AM

Morgans AM

By Morgans Financial LimitedBusinessInvesting
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Morgans AM episodes

  • Wednesday 6 November 2024: Large Cap technology stocks led US equity markets higher
    Large capitalisation technology stocks led US equity markets higher as investors awaited the results U.S. presidential election - Dow rose +427-points or +1.02%. Intel Corp rose +3.55%, more than recouping the previous session’s -2.93% decline to be the leading performer in the 30-stock index. Goldman Sachs Group Inc rose +3.03%. Boeing Co lost -2.62% despite workers voting by 59% to end their strike and return to work, securing a 38% raise over the next four years and paving the way for the troubled manufacturer’s Washington factories to restart production.
    6 min
  • Monday, 4 November 2024: US Markets make a positive start
    US equity markets made a positive start to November as investors digested the latest results from large technology companies and labour market data that reinforced expectations that the Federal Reserve will continue cutting interest rates - Dow gained +289-points or +0.69%. Intel Corp (up +7.81%) and Amazon.com Inc (+6.19%) were the leading performers in the 30-stock index, with both companies posting quarterly results after the close of the previous session.  Boeing Co +3.54% after the aircraft manufacturer reached a tentative deal with International Association of Machinists (IAM) on a new contract, potentially ending a crippling seven-week strike. The new offer includes a 38% general wage increase over four years, higher than the previous offer of 35%, with union members expected to vote on the deal tonight AEST.
    8 min
  • Wednesday, 30 October 2024: Large Cap tech companies catch investors eyes as markets end firmer.
    US equity markets firmer as investors eyed earnings from a number of large capitalisation technology companies and key economic data - Dow lost -155-points or -0.36%. Home Depot Inc (down -1.94%) and Coca-Cola Co (-1.66%) both fell over >1.5%.

    The broader S&P500 edged +0.16% higher to settle ~0.5% below its record all-time closing high. Communication Services (up +1.56%) and Information Technology (+1.12%) both climbed over >1% to be the only primary sectors to advance overnight. Utilities (down -2.13%) and Energy (-1.44%) sat at the foot of the primary sector leaderboard. Ford Motor Co dropped -% after the carmaker reported lower-than-expected third-quarter profits after the close of the previous session.
    8 min
  • Monday, 28 October 2024: Markets end mixed to cap off a bumpy few days of trading
    US equity markets mixed on Friday (25 October) to cap off a bumpy few days of trading as investors eye a huge week of economic data and earnings reports - Dow fell -260-points or -0.61%.

    McDonald’s Corp fell -2.97% and was the worst performer in the 30-stock index on Friday (25 October) and the stock has been under pressure in recent days following news that an E. coli outbreak in several states was tied to onions on the fast food chain's Quarter Pounder burgers.
    8 min
  • Thursday, 24 October 2024: Markets decline as bond yields climb
    US equity markets declined as bond yields continued to climb - Dow dropped -410-points or -0.96%, paring an earlier decline of as much as 632 points but still marking the 30-stock index’s largest one-day decline since 6 September. McDonald’s Corp fell -5.12% to be the worst performer in the 30-stock index after the Centers for Disease Control and Prevention (CDC) said they were investigating an E. coli outbreak. Amazon.com Inc (down 2.6%) and Apple Inc (-2.16%) both fell over >2%. Verizon Communications Inc rose 3.28% to be the leading Dow component overnight, recouping some of the previous session’s -5.3% decline in the wake of telecom giant’s third quarter result falling short of consensus expectations despite continuing to add wireless phone and internet subscribers
    5 min
  • Friday, 18 October 2024: Markets settled narrowly mixed after a morning session rally for the semiconductor sector
    • US equity markets settled narrowly mixed after a morning session rally for the semiconductor sector, spurred by solid quarterly results from the world's largest contract chipmaker, lost some steam - Dow rose +161-points or +0.37% to 43,239.05 to book its 39th record closing high of the year. American Express Co (up +1.46%) and Chevron Corp (+1.66%) were the leading performers in the 30-stock index.
    • The broader S&P500 dipped -0.02%, with Utilities (down -0.93%) leading six of the eleven primary sectors lower. Energy (up +0.4%) sat atop the primary sector leaderboard. Expedia Group Inc gained +4.75% after the Financial Times reported Uber Technologies Inc (down -2.44%) was considering a bid to buy the online travel company.
    10 min
  • Friday, 11 October 2024: Modest declines in the wake of slightly stickier inflation data for September
    US equity markets settled with modest declines in the wake of slightly stickier inflation data for September - Dow slipped -58-points or -0.14%. Boeing Co fell -1.84% to be the worst performer in the 30-stock index. International Business Machines (IBM) Inc (-0.55%) touched a record all-time high (US$235.83) earlier in the session. Amazon.com Inc rose +0.80% after the on-line retailing giant said that sales and number of items sold during Prime Big Deal Days on Tuesday (8 October) and Wednesday (9 October) were the most ever for one of its October events. Doug Herrington, Chief Executive Officer (CEO) of Worldwide Amazon Stores, said it “marked a strong start to the holiday shopping season.” Amazon was in trying to get a jump on the key sales period heading into Christmas. Target Corp’s (up +1.06%) second Target Circle Week of the year kicked off on Sunday (6 October) and runs through Saturday (12 October). Dow component Walmart Inc’s (down -0.98%) Holiday Deals event runs until Sunday (13 October).

    8 min
  • Tuesday, 8 October 2024: Markets Retreat as Rate Cut Hopes Fade and Oil Prices Rise Amid Middle East Tensions
    US equity markets retreated, handing back the previous session’s post jobs report surge as expectations for big interest rate cuts subsided and oil prices continued rising on concerns about Middle East tensions - Dow shed 399-points or -0.94%. Travelers Companies Inc (down -4.34%) was the worst performer in the 30-stock index. Amazon.com Inc (down -3.06%) and Walt Disney Co (-2.9%) . Apple Inc fell -2.25% after Jefferies downgraded the company to “hold” from “buy”, saying expectations for sales of the iPhone 16 and 17 are too high.
    6 min

About Morgans AM

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A daily bulletin featuring an overnight sharemarket summary and economic news from across the globe, broadcast in the Morgans studio before the Australian stock market opens each morning.

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