Morgans Financial Limited

Morgans AM: Wednesday 19 February 2020


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Apple Inc’s announcement after the close of the previous session that their second quarter earnings guidance was under pressure from the coronavirus impact weight on US equity markets  - Dow down -166points or -0.54% Apple Inc fell -1.8%, closing well off its session lows (US$314.61) that saw the stock down as much as -3.2%. The broader S&P500 -0.32%, General Electric Co fell -0.62% after The Wall Street Journal reported that the Trump administration may stop it from selling jet engines to China. However, the technology-centric NASDAQ inched +0.01% higher to eke out a fresh record closing high (9,732.74). Netflix Inc rose +1.9% to touch its highest level since July 2018.
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