Morgans Financial Limited

Morgans AM: Wednesday 13 November 2019


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US equity markets swung between small gains and losses as investors monitored President Trump's address to the Economic Club of New York - Dow unchanged. The broader S&P500 added +0.16% to 3,091.84, falling just shy of a fresh record closing high. The technology-centric NASDAQ rose +0.26% to 8,486.09 to log its 15th record closing high of 2019. Walt Disney Co gained +1.3% on the day of the debut of Disney+, the company’s new subscription video streaming product, despite reports of some access problems being experienced by users. The company said demand for the streaming service was well above expectations. Facebook Inc rose +2.7% after announcing it would launch a payment system across Facebook, Messenger, Instagram, and Whatsapp. Both the S&P 500 (3,102.61) and Nasdaq (8,514.84) carved out fresh intra-day records earlier in the day. In corporate news, Dean Foods Co. voluntarily filed for chapter 11 bankruptcy protection, with the dairy company saying it was working toward an "orderly" sale of the company.
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