Morgans Financial Limited

Morgans AM: Thursday, 15 April 2021


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A mixed session on Wall Street despite some stellar first quarter results from a brace of banks to kick off the earnings season – Dow added +54-points or +0.16% to 33,730.89, settling ~0.5% below is 23 March record closing high (32,423.15). The Dow pared an earlier climb of over >200-points that lifted the index to a fresh record intra-session high (). The broader S&P500 eased -0.41% a day after logging its 21st record closing high (4,141.59) of 2021 but touched a fresh record intra-day high (4,151.69). Consumer Discretionary (down -1.17) and Information Technology (-1.1%) both fell over >1% to be the worst performing primary sectors. Energy gained +2.91% to comfortably lead the primary sector gains. Costco Wholesale Corp edged ~0.1% higher in after hours trading after lifting its dividend more than >12% to US$0.79c per share. The Nasdaq fell -0.99%. Netflix Inc (down -1.97%) and Facebook Inc (-2.24%) dropped more than >2% each, which Amazon.com Inc (-1.97%), Microsoft Corp (-1.12%) and Apple Inc (-1.79%) all dipped at least 1%. Coinbase Global Inc, the biggest U.S. cryptocurrency exchange and one of the first crypto exchanges to go public, settled at a +31.3% premium to its US$250 issue price and was briefly valued above $100B after touching a session peak of US$429. Dell Technologies Inc rallied over >8% in extended trading after announcing a plan to spin off its 80.8% stake in VMware Inc (up +2.77% in extended trading) to shareholders. Dell holders would receive 0.44 VMware shares for each Dell share held, subject to adjustment prior to close. The small capitalisation Russell 2000 index rose +0.8%.
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