Morgans AM

Morgans AM: Wednesday 22 July 2020


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US equity markets mixed, paring earlier gains in the final hour of trading - Dow up +160-points or +0.60%, climbing above >27,000 at its session peak (27,0235.38). Chevron Corp (up +7.18%) and Boeing Corp (+2.41%) were among the leading index constituents. The broader S&P500 edged +0.17% higher, logging its highest close since 21 February and sits just 3.8% from its 19 February closing high. Some fresh rotation into economically sensitive cyclical stocks, with gains for the Energy (up +6.15%) and Financials (+1.91%) sectors were largely offset by a -1.06% fall for the Information Technology sector. The NASDAQ fell -0.81% after logging a fresh record intra-day high (10,839.93) shortly after the opening bell. Shares of Facebook Inc (down -1.50%), Amazon.com Inc (-1.83%), Netflix Inc (-2.45%), Microsoft Corp (-1.35%) and Apple Inc (-1.38%) were all down more than >1%.
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Morgans AMBy Morgans Financial Limited


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