Morgans Financial Limited

Morgans AM: Tuesday, 3 November 2020


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US equity markets climbed on the eve of the presidential election - Dow rallied +423-points or +1.60%. Honeywell International Inc (up +5.25%) and Walgreens Boots Alliance Inc (+5.14%) were the best-performing Dow constituents, gaining more than >5% each. The broader S&P500 +1.23%, with Energy (up +3.67%) and Materials (+3.39%) leading all eleven primary sectors higher. Beaten down value stocks soundly outperforming growth stocks. The Nasdaq +0.42% although some big technology stocks continued to struggle in the wake of their quarterly results last week, with Facebook Inc down -0.67% and Amazon.com Inc -1.04%.
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