Morgans Financial Limited

Morgans AM: Wednesday 11 March 2020


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Another volatile session saw the US equity markets settle sharply higher as investors attention re-focussed on potential further stimulus measures  - Dow up +1,167-points or +4.89% (to 25,105.14). climbing back above >25,000. JPMorgan Chase and Home Depot led the Dow higher, rising more than 7% each. The broader S&P500 +4.94%, notching its best day since 26 December, 2018. Tech and financials were the best-performing sectors in the S&P 500, rising at least 6% each. Energy gained more than 4%.  Airlines, including American Airlines Group Inc ,  Delta Air Lines Inc and Southwest Airlines Co  announced capacity reductions and other measures in response to the coronavirus outbreak. Global Payments Inc gained in the after session after Chief Executive Officer (CEO) Jeff Sloan reaffirmed earlier forecasts, saying the company has seen “no discernible impact” on operations so far. Hilton Worldwide Holdings Inc fell -3.7% in extended trading after the hotel chain pulled its guidance for the first quarter and the year because of the COVID-19 coronavirus's impact on the global economy. NASDAQ also rose +4.94%. Facebook (up +5.1%), Amazon.com Inc (+5.07%),  Apple (+7.2%), Netflix (+5.09%) and Google-parent Alphabet (+5.33%) all rose more than >4.8%.
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