Morgans Financial Limited

Morgans AM: Thursday, 27 October 2022


Listen Later

The Nasdaq Composite and S&P 500 snapped three session winning streaks as investors assessed disappointing earnings from major technology names - Dow eked out a +2-points or +0.01% gain, paring an earlier rally of as much as +300-points. The broader S&P500 eased -0.74%, with Communication Services (down -4.75%) and Information Technology (-2.23%) leading five of the eleven primary sectors lower. Energy (up +1.36%) and Health Care (+1.12%) both rose over >2% to be the leading primary sectors overnight. Tesla Inc rose +1.00% despite a Reuters report suggesting that the electric vehicle manufacturer is facing a criminal investigation conducted by the Department of Justice into claims the company made around the self-driving capabilities of its vehicles. While federal and California safety regulators have looked into Tesla's Autopilot comments, Reuters noted that the "potentially represents a more serious level of scrutiny because of the possibility of criminal charges against the company or individual executives." However, the story also notes that any case could be complicated by the fact that Tesla has also offered some warnings about Autopilot system. The Nasdaq dropped -2.04%. Google-parent Alphabet Inc dropped -.5% after reporting lower-than-expected earnings per share (EPS) and revenue for the third quarter after the close of the previous session. Microsoft Corp shed -% after the software maker disclosed lower-than-expected cloud revenue for the fiscal first quarter and softer-than-expected guidance after the closing bell of Tuesday’s (25 October) session. The small capitalisation Russell 2000 added +0.46%.
...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