Morgans Financial Limited

Morgans AM: Wednesday 17 June 2020


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US equity markets rallied, buoyed by a combination of further global central bank support, talk of greater fiscal stimulus in the US and solid economic data - Dow up +527-points or +2.04% The broader S&P500 gained +1.90%, with Energy (up +2.82%) the best performing sector and with all eleven primary sectors advancing for a second session in-a-row. Schlumberger NV rose +1.19% after the oilfield services group announced that it has initiated "major changes" to its organizational structure, aimed at permanently removing over >$1.5B in costs on an annual basis. The NASDAQ rose +1.78%.
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