Morgans Financial Limited

Morgans AM: Thursday 9 May 2019


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A late sell-off left US equity markets nursing modest losses - Dow inched +2-points higher The broader S&P500 slipped -0.16%, NASDAQ -0.26%, with Intel Corp (down -2.46%) after the chipmaker announced late in the session that it expects low single-digit revenue growth over the next three years. Lyft Inc tumbled 10.84% after the ride-hailing company reported quarterly earnings for the first time since its initial public offering in March late on Tuesday (7 May). Reuters reported that China had attempted to revamp a nearly 150-page draft trade agreement last Friday (3 May). Separately, Iran said it may cease compliance with portions of a 2015 nuclear deal it signed with the US, Britain, France, Germany, China and Russia. Iranian President Hassan Rouhani said that it would begin stockpiling heavy water and low-enriched uranium unless non-US signatories take steps to shield the Iranian economy from Trump-administration sanctions that have been crippling its economy.
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