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US equity markets retreated as investors eyed a fresh rise in Treasury yields following last Friday’s (3 February) jobs report, and a speech from Federal Reserve Chair Jerome Powell tonight AEST - Dow slipped -35-points or -0.10%, paring an earlier decline of over >240-points. The broader S&P500 fell -0.61%, with Communication Services (down -1.31%), Information Technology (-1.22%) and Materials (-1.08%) all declining over >1% to lead nine of the eleven primary sectors lower. The more defensive Utilities (up +0.87%) and Consumer Staples (+0.02%) were the only primary sectors to advance. The Nasdaq lost -1.00%. Dell Technologies Inc fell -3.03% after joining the ranks of other technology companies slashing jobs, confirming in a regulatory filing that it will be reducing its workforce by 5%. The small capitalisation Russell 2000 declined -1.40%. After Bed Bath & Beyond BBBY more than doubled regular trading (before settling +92.13% higher), the company revealed plans to sell convertible preferred stock as well as warrants to purchase common shares and convertible preferred stock. The stock tumbled over >30% in after hours trading.

Morgans AM: Monday, 6 February 2023 by Morgans Financial

The resilience of the Australian consumer has been a major area of discussion among investors in recent months. Co-Head of Research at Morgans Alex Mees previews the Consumer Sector for the February 2023 Reporting Season. With the upcoming reporting season, there are a number of key themes to watch out for. The most critical information to look out for is the shape of consumer demand. We expect it to have remained robust through Christmas and into January, though it’s likely to moderate as we move into the second half of the financial year. 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: Friday, 3 February 2023 by Morgans Financial

Morgans' Senior Analysts Fiona Buchanan and Nathan Lead give a sector preview of our stocks under coverage that falls under Real Assets (REITs and Infrastructure). They cover key themes, catalysts, and guidance heading into this earning 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 staged a late, sharp rebound as investors digested the latest observations from Federal Reserve Chair Jerome Powell following the conclusion of the central bank’s latest two day monetary policy meeting - Dow settled +7-points or +0.02% higher after sliding over >500-points earlier in the session. The broader S&P500 rose +1.05% to 4,119.21, reversing an earlier decline of almost 1% and settling at it highest level since August last year. Information Technology (up +2.29%) and Consumer Discretionary (+1.89%) rallied over >1.5% to lead ten of the eleven primary sectors higher. Energy (down -1.89%) was the only primary sector to settle in the red. Both the Dow and S&P 500 recorded their biggest intraday recovery from session lows since 13 October last year, according to Dow Jones Market Data. The Nasdaq rallied +2.00% to 11,816.32 and its highest level since mid-September last year, boosted by gains for chipmakers. Advanced Micro Devices Inc soared +12.63% after reporting a better-than-expected fourth quarter result after the close of the previous session. The small capitalisation Russell 2000 gained +1.49%.

Morgans AM: Wednesday, 1 February 2023 by Morgans Financial

As attention turns to the February first half reporting season, earnings estimates continue to defy expectations of an imminent slowdown. However, fears that they will materially decelerate in 2H23 will temper sentiment when anticipated headwinds from rising interest rates hits home. Read more: https://www.morgans.com.au/Blog/2023/January/Reporting-Season-Playbook-February-2023 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 ahead of a week full of high-profile risk events, including key central bank interest rate decisions and economic data, and major US corporate earnings releases - Dow fell -261-points or -0.77%.  The broader S&P500 dropped -1.30%, with Energy (down -2.29%), Information Technology (-1.94%), Communication Services (-1.80%) and Consumer Discretionary (-1.71%) all falling over >1.5% to lead ten of the eleven primary sectors lower. Consumer Staples (up +0.07%) was the only primary sector to advance. Johnson & Johnson (J&J) fell -3.70% after The Wall Street Journal (WSJ) reported that a federal appeals court rejected the consumer products and pharmaceutical company’s move to place its liabilities for tens of thousands of claims linking talc-based products to cancer into bankruptcy. The WSJ report said the talc bankruptcy case was dismissed, because the appeals court said J&J’s talc unit, LTL Management LLC, wasn’t in financial distress. J&J faced about 38,000 lawsuits, over links to the company’s Baby Powder to ovarian cancer, asbestos poisoning and other illnesses. The Nasdaq shed -1.96%. Three of the four largest U.S. companies by market value - Alphabet Inc (down -2.45%), Amazon.com Inc (-1.65%) and Apple Inc (-2.01%) - all fell ahead of release of their latest quarterly results after the market close on Thursday night AEST (2 February). The small capitalisation Russell 2000 lost -1.35%.

US equity markets rallied to cap a strong week that saw investors weigh a host of key corporate earnings releases and key economic data, and as investors eye another busy week ahead on the earnings calendar along with some key global central bank interest rate decisions – Dow edged +29-points or +0.08% higher to book a sixth consecutive session of gains and longest winning streak since late October last year. The broader S&P500 rose +0.25% to 4,070.56, recording its highest settlement since 2 December last year. The Consumer Discretionary sector gained +2.27% to be the leading primary sector performer on Friday (27 January) underpinned by the latest double-digit percentage rally for Tesla Inc (up +11.00%). Electric vehicle (EV) manufacturer Lucid Group Inc spiked +43.00% amid rumours that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, intended to take the company private. Energy (down -1.99%) was the worst performing primary sector but still sits +4.2% higher year-to-date. With 30% of the Energy sector's 23 companies having reported quarterly results so far, fourth-quarter earnings are expected to have climbed +60% from a year earlier, and +155% for full-year 2022, according to Refintiv IBES. But earnings for the Energy sector are expected to decline -15% this year, the biggest drop among the 11 S&P 500 sectors. Hasbro Inc tumbled -8.11% after the toymaker warned of weak holiday quarter results and said it would cut 1,000 jobs (equating to ~15% of its workforce). The Nasdaq gained +0.95% to 11,621.71, the technology centric indice’s highest close since 14 September last year. Intel Corp dropped -6.41% after the chipmaker’s fourth quarter result released after the closing bell of the previous session fell short of consensus analyst expectations, as did the accompanying outlook. The small capitalisation Russell 2000 rose +0.44% (to be up almost 7% month-to-date).