Morgans Financial Limited

US equity markets advanced, with cyclical stocks leading the latest rally amid hopes of an accelerating broader economy and rotation out of technology stocks - Dow rose +462-points or +1.06% International Business Machines (IBM) Corp (up +3.63%) and Sherwin Williams Co (+3.14%) both gained over >3%. Nvidia Corp added +0.53% to US$146.67 after a volatile session, paring an earlier rally of as much as 5% that lifted the chipmaker to a fresh record intra-day high (US$152.89) a day after the release of the ‘Magnificent Seven’ member’s fiscal third quarter result.

US equity markets mixed as investors eyed third-quarter results from chip giant Nvidia Corp after the closing bell and monitored geopolitical tensions with Russia - Dow rose +140-points or +0.32%, snapping a four session losing streak. Unitedhealth Group Inc rallied +4.07% to be the leading performer in the 30-stock index, while Amgen Inc (+2.83%) and International Business Machines (IBM) Corp (+2.07%) both rose over >2%.

US equity markets advanced, shrugging off concerns of mounting geopolitical tensions between Ukraine and Russia - Dow eased -121-points or -0.28%. Unitedhealth Group Inc (down 2.15%) was the worst performer in the 30-stock index. Nvidia Corp rallied +4.89% ahead of the release of the chipmaker’s third quarter result after the close of tonight’s AEST session.

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US equity markets advanced after logging their worst weekly performance since early September last week - Dow slipped -55-points or -0.13%. Nike Inc (down -2.31%) was the worst performer in the Dow overnight amid concerns that overall athletic apparel trends softened further in October. Walt Disney Co fell -1.34%, snapping a nine-session winning streak. Nvidia Corp fell -1.29%, with after The Information reporting over the weekend that the company's new Blackwell chips have faced overheating issues. The chip giant is slated to report its third quarter result after the close of Wednesday night’s AEST (21 November) session. Boeing Co (up +2.63%) was the leading performer in the 30-stock index overnight.

• Large-cap technology stocks weighed heavily on US equity markets on Friday (15 November) - Dow fell -305-points or -0.70%. Amazon.com Inc (down -4.19%) and Amgen Inc (-4.16%) both fell over >4%, while Nvidia Corp lost -3.26%. Walt Disney Co rallied +5.46% after the entertainment giant reported strong fourth quarter earnings accompanied by an upbeat outlook.

US equity markets retreated as Federal Reserve Chair Jerome Powell signaled that the strength of the economy could warrant some patience with future rate cuts.- Dow fell -207-points or 00.47%. The Federal Trade Commission (FTC) is preparing to launch an investigation into anti-competitive practices at Microsoft’s cloud computing business, as the US regulator continues to pursue Big Tech in the final days of Joe Biden’s presidency. The FTC is examining allegations that Microsoft is abusing its market power in productivity software by imposing punitive licensing terms to prevent customers from moving their data from its Azure cloud service to competitors’ platforms, said people with direct knowledge of the matter.

US equity markets settled little changed as investors digested a benign October inflation report - Dow added +47-points or +0.11%, unwinding an earlier rally of as much as +230-points. Amazon.com Inc (up +2.48%) and Chevron Corp (+2.21%) both gained over >2%. Boeing Co (down -3.58%) was the worst performer in the 30-stock index overnight.

Morgans AM: Wednesday, 13 November 2024 by Morgans Financial

The benchmark US indices edged their way to fresh record highs, with the Dow and S&P 500 settling above 44,000 and 6,000 respectively for the first time ever - Dow gained +304-points or +0.69% to 44,293.13. Salesforce Inc (up +6.14%) was the leading performer in the 30-stock index, while Goldman Sachs Group Inc (+2.22%) and Honeywell International Inc (+2.62%) gained over >2%.