Morgans Financial Limited

Morgans AM: Tuesday, 8 February 2022


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A weaker start to the new trading week for US equity markets - Dow unchanged . The broader S&P500 eased -0.37% despite another strong session for the Energy sector (up +1.31%). Communication Services (down -2.24%) was the worst performing primary sector overnight along with Information Technology (-0.66%). The Nasdaq down -0.58%. Facebook-parent Meta Platforms Inc fell -5.14% and has dropped ~30% since the company’s fourth quarter result last Wednesday (2 February). Google parent Alphabet Inc (down -2.85%) disclosed that Larry Page, co-founder and current board member, has sold more than $80M worth of shares, a couple of days after the stock surged on the back of a blowout earnings report and stock-split announcement. In filings with the Securities and Exchange Commission after Friday’s (4 January) closing bell, the internet search giant said Mr Page sold 13,889 on 3 February in the open market. The small capitalisation Russell 2000 +0.51%.
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