Morgans Financial Limited

Morgans AM: Thursday, 18 March 2021


Listen Later

US equity markets advanced after a choppy session, with the Federal Reserve forecasting a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero– Dow up +189-points or +0.58% to a fresh record closing high of 33,015.37 (after hitting a fresh intra-day high of 33,047.58) – the first settlement above >33,000. It also marked the fastest ever trip through consecutive 1000-point milestones, moving above >33,000 just five trading days after clearing 32,000 (albeit the hurdle obviously become less taxing in percentage terms the higher the index moves). Boeing Co (up +3.28% overnight) was the biggest points contributor (~120-points) to the indices latest 1,000-point rally. The second-fastest move between milestones was an eight-day journey from 25,000 to 26,000, a rise of 4%. The Walt Disney Co gained 0.5% after CEO Bob Chapek told CNBC that California’s two Disneyland theme parks will reopen on April 30. The broader S&P500 added +0.29% to a record close of 3,974.12 after setting an intra-day all-time high of 3,983.87 and erasing an earlier decline of -0.7%. Consumer Discretionary (up +1.41%) and Industrials (+1.12%) gained over >1% to lead six of the eleven primary sectors higher. Utilities (down 1.63%) was the worst performing sector. Amazon.com Inc (up +1.4% and Tesla Inc (+3.7%) provided the biggest lift to the index. The Nasdaq added +0.40% after also erasing earlier losses that saw the technology-centric index down as much as 1.5%. The small capitalisation Russell 2000 index rose +0.73%. AMC Entertainment Holdings Inc climbed ~4% in extended trading after the movie-theatre chain said that 98% of its U.S. locations will open starting Friday (19 March), and that 99% should be open by 26 March.
...more
View all episodesView all episodes
Download on the App Store

Morgans Financial LimitedBy Morgans Financial


More shows like Morgans Financial Limited

View all
Pivot by New York Magazine

Pivot

9,724 Listeners

CommSec Market Update by CommSec

CommSec Market Update

16 Listeners

NAB Morning Call by Phil Dobbie

NAB Morning Call

20 Listeners

The Money Puzzle by The Australian

The Money Puzzle

45 Listeners

Your Wealth by NAB

Your Wealth

8 Listeners

The Rules of Investing by Livewire Markets

The Rules of Investing

13 Listeners

Equity Mates Investing Podcast by Equity Mates Media

Equity Mates Investing Podcast

61 Listeners

Australian Investors Podcast by Rask

Australian Investors Podcast

21 Listeners

FEAR & GREED | Business News by Fear and Greed

FEAR & GREED | Business News

11 Listeners

The Rest Is History by Goalhanger

The Rest Is History

15,506 Listeners

The Money Café with Alan Kohler by Intelligent Investor

The Money Café with Alan Kohler

36 Listeners

The Front by The Australian

The Front

52 Listeners

Chanticleer by Australian Financial Review

Chanticleer

22 Listeners

The Fin by Australian Financial Review

The Fin

20 Listeners

5 in 5 with ANZ by ANZ

5 in 5 with ANZ

7 Listeners