Morgans Financial Limited

Morgans AM: Wednesday, 2 August 2023


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A mixed session for US equity markets to open August as investors continued to assess a raft of quarterly earnings releases and eyed Friday night’s AEST (4 August) key non-farm payrolls report - Dow added +71-points or +0.20%, touching its highest intra-session level since February 2022 earlier in the session. The broader S&P500 eased -0.27%, pulling back from a 16-month high. Utilities (down -1.26%) and Consumer Discretionary (-1.15%) both declined over >1% to lead nine of eleven primary sectors lower overnight. Tesla Inc fell -2.38% following reports that almost 300K Tesla Model 3s and Model Ys are the subject of a fresh investigation by the National Highway Traffic Safety Administration into their steering after a dozen complaints alleging loss of steering control. Industrials (up +0.32%) and Information Technology (+0.09%) were the only primary sectors to advance. The Nasdaq -0.43%. Apple Inc (down -0.43%) and Amazon.com Inc (-1.49%) The small capitalisation Russell 2000 lost -0.45%.
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