Morgans Financial Limited

Morgans AM: Thursday 30 July 2020


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US equity markets climbed as investors digested the latest pronouncements from the Federal Reserve following the conclusion of their latest two day monetary policy meeting - Dow up +160-points or +0.61% The broader S&P500 gained +1.24%, with Energy (up +2.13%) and Financials (+2.02%) leading all eleven primary sectors higher. NASDAQ +1.35%. Advanced Micro Devices Inc soared +12.54% after the chip maker late Tuesday (29 July) reported second-quarter earnings that topped expectations and boosted its full-year forecast. Apple Inc (up +1.92%), Amazon.com Inc (+1.11%), Alphabet Inc (+1.45%) and Facebook Inc (+1.38%) all advanced ahead of their release of their. The Chief Executive Officers (CEOs) of all four of those big technology companies testified in front of Congress, addressing antitrust concerns. In broader stock moves, Eastman Kodak Co soared +318.14% after President Trump tapped the photography pioneer to produce ingredients in generic drugs in response to the coronavirus pandemic. The shares skyrocketed as much as 570% at one point, with trading halted more than 15 times due to volatility.
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