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US equity markets settled modestly weaker as investors parsed the latest inflation figures - Dow fell -157-points or -0.46%, Boeing Co (up +1.30%) The broader S&P500 dipped -0.03%, with Real Estate (down -1.04%) and Consumer Staples (-0.93%) leading seven of the eleven primary sectors lower. Consumer Discretionary (up +1.18%) sat atop the primary sector leaderboard. Ford Motor Co (down -0.92%) flagged plans to cut 3,800 jobs in Europe over the next three years as it looks to lower costs and improve profitability while shifting production toward electric vehicles. The company also temporarily halted production and delivery of its electric pickup truck due to a battery problem. Occidental Petroleum Corp rose +2.44% after Warren Buffett’s Berkshire Hathaway Inc (up +2.44%) disclosed that it increased its stake in the oil and gas company to 28.0% from 21.4%. Berkshire Hathaway also increased its stake in Apple Inc (down -0.42%) during the fourth quarter to 5.8%, according to the latest filing with the Securities and Exchange Commission (SEC) The Nasdaq added +0.57%, recouping earlier session declines. Tesla Inc rallied +7.51% and chipmaker Nvidia Corp +5.43%. The small capitalisation Russell 2000 slipped -0.06%.

US equity markets advanced as investors’ attention turned to tonight’s AEST January inflation figures - Dow rose +377-points or +1.11%, underpinned by solid gains for Microsoft Corp (up +3.12%), Nike Inc (+2.39%), Salesforce (+2.42%) and Intel Corp (+2.70%). The broader S&P500 climbed +1.14%, with Information Technology (up +1.77%), Consumer Discretionary (+1.46%), Consumer Staples (+1.17%), Financials (+1.10%) and Communication Services (+1.10%) all rising over >1% and leading ten of the eleven primary sectors higher. Energy (down -0.61%) was the only primary sector not to advance overnight. Tesla Inc lost -1.14%. Even those losses combined with those from shorting Coinbase Global Inc (down -1.21%), Microsoft Corp and Lucid Group Inc (up +1.69%) still don’t reach the losses incurred by Tesla shorts. Data compiled by S3 partners shows hedge funds have lost US$7.56B shorting the electric vehicle manufacturer on a mark-to-market basis over the last 30 days. That’s more than double the losses incurred by the second-least profitable short on the list, Apple Inc (up +1.88%), at US$2.6B. The Nasdaq rallied +1.48%. Meta Platforms Inc rose +3.03% following a Financial Times report saying further job cuts could be in the pipeline. In November, the Facebook parent announced it was laying off around 11K employees, which equates to 13% of its staff. The small capitalisation Russell 2000 rose +1.07%.

US equity markets retreated on Friday (10 February) as investors digested mixed corporate earnings and eyed the latest inflation figures later this week - Dow rose +169-points or +0.50%, The broader S&P500 added +0.22%, with Energy (up +3.92%) leading eight of the eleven primary sectors higher. ConocoPhillips rallied +4.67% and ExxonMobil Corp +4.22%. The Nasdaq eased -0.61%. The small capitalisation Russell 2000 added +0.18%.

Analyst Max Vickerson gives his comments on the disappointing result of AGL Energy this reporting season. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

US equity markets retreated, reversing earlier session gains - Dow fell -249-points or -0.73%, unwinding an earlier rally of over >300-points. Walt Disney Co fell -1.27% after the entertainment giant topped fiscal first-quarter expectations, and Chief Executive Bob Iger announced significant restructuring plans after the close of the previous session. Activist investor Nelson Peltz also called time on his proxy fight against Disney. Salesforce Inc rose +2.38% following news after the close of the previous session that a fifth activist investor, Third Point LLC, had acquired a stake in the company. The broader S&P500 -0.88%, giving up an earlier ~0.9% gain. Communication Services (down -2.80%) was the worst performing sector for a second straight session and led all eleven primary sectors lower. Tesla Inc (up +3.00%) extended its rally into an eighth straight session and has more than doubled since touching a 52-week low. Elon Musk said the electric vehicle maker’s Master Plan 3 would be unveiled at the company’s annual meeting and investor event on 1 March. The Nasdaq -1.02%, having been ~1.4% higher earlier in the session. Google parent Alphabet Inc fell -0.69% (following a -7.68% drop in the previous session) a day after the company held an event to show off its new artificial intelligence (AI) chatbot called Bard, and as investors grew concerned around rising competition in the artificial intelligence (AI) space. Microsoft Corp (-1.17%) held an event to show off its own AI technologies in its competing search engine earlier in the week. The small capitalisation Russell 2000 lost -1.33%.

Morgans' Analyst Alex Lu gives us an update covering the Industrials Sector stocks under coverage for this coming Reporting Season. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

Morgans Senior Analysts Nathan Lead, Richard Coles, and Scoot Murdoch present on each of their sub-sectors of financials heading into this reporting season. Including; Banks, insurance, and diversified financials. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

US equity markets retreated as investors continued to ponder the latest observations from Federal Reserve Chair Jerome Powell delivered a day earlier, and comments from a parade of central bank officials overnight - Dow fell -208-points or -0.61%. Salesforce Inc rose ~0.8% in extending trading (after falling -0.96% in regular trading) following reports a fifth activist investor, Third Point LLC, had acquired a stake in the company. Salesforce has also been reportedly targeted by ValueAct Capital Partners LP, Elliott Investment Management LP, Starboard Value LP and Inclusive Capital amid slowing growth. The broader S&P500 shed -1.11%, with Communication Services (down -4.13%) leading all eleven primary sectors lower as Alphabet Inc shed -7.68% after the company held an event to show off its new artificial intelligence (AI) chatbot called Bard, one day after competitor Microsoft Corp (-0.31%) held an event to show off AI technologies in its competing search engine. Tesla Inc rose +% The Nasdaq dropped -1.68%. The small capitalisation Russell 2000 lost -1.52%. Traders noted there may be more clarity on the Federal Reserve’s next interest rate move with the publication of consumer price index, retail and inflation data next week.

Morgans' Analyst Steven Sassine and Senior Analyst Nick Harris give us a rundown of the Technology Sector heading into this reporting season, as well as some key stock picks from the sector. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

Morgans AM: Wednesday, 8 February 2023 by Morgans Financial