Morgans Financial Limited

Morgans AM: Thursday 3 September 2020


Listen Later

US equity markets booked a fresh round of records amid a broad rally, shrugging off a mixed batch of economic reports - Dow gained +455-points or +1.59% (to 29,100.50), reclaiming the 29,000 mark for the first time since February to sit ~1.5% below its 12 February record closing high (29,551.42). 28 of the 30 index constituents advanced. President Trump was pleased with the latest rally, taking to Twitter to type (replete with emoticons) “The Dow Jones Industrial just closed above 29,000! You are so lucky to have me as your President. With Joe Hiden’ it would crash” The broader S&P500 advanced +1.54% (to 3,580.84), logging its 22nd record closing high for the year. The Utilities sectors (up +3.1%) led ten of the eleven primary sectors higher, with Energy (down -0.4%) the sector to settle in the red. A total of 74 members, or 15%, of the benchmark large-cap U.S. index set all-time intraday records, including Nvidia Corp (up +3.80%), Advanced Micro Devices Inc (down -2.13%), PayPal Holdings Inc (+0.9%), Amazon.com Inc (+0.92%), Alphabet Class A (+4.07%), Apple Inc (down -2.1%) and Walmart Inc (+0.1%)name a few notables. The technology-centric NASDAQ +0.98% (to 12,056.44) and marking its 43rd record closing high of 2020. Tesla Inc fell -%, logging its largest single session decline in about six weeks after a regulatory filing disclosed that Scotland-based fund manager Baillie Gifford reduced its stake in the electric vehicle maker to 4.25% from 6.3% (selling ~19.23M shares worth ~US$9.14B). Baillie Gifford said it sold the stock to meet internal guidelines that limit the percentage of the portfolio that could be invested in a single stock, according to a report in The Wall Street Journal.
...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