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Morgans is Australia's largest national full-service retail stockbroking and wealth management network with more than 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices across all states...
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Morgans is Australia's largest national full-service retail stockbroking and wealth management network with more than 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices across all states and territories in Australia.
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Morgans Financial Limited (Imports from Soundcloud)
Morgans Financial Limited (Imports from Soundcloud)
22 AUG 2024 · US equity markets retreated as central bankers will gather in Jackson Hole, Wyoming for the Federal Reserve’s annual Monetary Policy Symposium, with the S&P 500 and Nasdaq logging their worst daily decline since 5 August - Dow fell -178-points or -0.43%. Intel Corp slumped -6.12% to be worst performer in the 30-stock index overnight following reports that the semiconductor giant's progress on constructing two new chip fabrication facilities in Germany may be stalled. Intel expected the Magdeburg plants to be online and producing high-performance semiconductors as soon as 2027. However, according to media reports this week, the schedule now appears uncertain. Amazon.com Inc (-2.21%) and Microsoft Corp (-2.03%) both fell over >2%.
21 AUG 2024 · US equity markets logged modest gains as investors digested earnings reports from various retailers, the minutes from the Federal Reserve’s late July monetary policy meeting and a sharp downward revision to annual payrolls data - Dow edged +56-points or +0.14% higher, with Intel Corp (up +2.0%) the leading performer in the 30-stock index. American Express Co fell -2.68% to US$246.30 after Bank of America Securities downgraded the payments giant to ‘Neutral’ from ‘Buy’ with a US$263 price target, with the analysts pointing to the stock’s current premium valuation and the potential for subdued growth in billings volume.
20 AUG 2024 · US equity markets logged modest declines, with the S&P 500 and Nasdaq snapping eight session winning streaks - Dow slipped -62-points or -0.15%, snapping a five session winning streak. Boeing Co shed -4.2% after the aerospace company said it would be grounding its four-plane test fleet of the 777x after finding cracks in the jet’s structure. Intel Corp lost -2.46%, unwinding much of the previous session’s +3.11% gain.
20 AUG 2024 · US equity markets opened the week on a positive footing, maintain the momentum that saw the benchmark indices record their strongest weekly gains of the year last week - Dow advanced for a fifth consecutive session, gaining +237-points or +0.58% to 40,896.53. The 30-stock index closed 0.73% below its record closing high (41,198.08) set on 17 July. Intel Corp (up +3.11%) and McDonald’s Corp (+3.25%) both rose over >3% to be the leading Dow components overnight.
18 AUG 2024 · US equity markets advanced on Friday (16 August) to cap their best week of 2024 to date, with the S&P 500 and Nasdaq - Dow added +97-points or +0.24%, rising for a sixth time in seven sessions. The broader S&P500 rose +0.20%, with Financials (up +0.62%) leading eight of the eleven primary sectors higher. Ulta Beauty Inc rose +3.12% and extended gains after regulatory filing late last week revealed Warren Buffett's investment vehicle Berkshire Hathaway Inc had acquired an ~US$266M stake in the cosmetics retailer. Amcor Plc lost -3.69% to be the worst performer in the S&P 500 after the packaging giant missed revenue estimates and provided weak guidance after the close of the previous session as volumes for healthcare and North American beverage companies remained soft.
15 AUG 2024 · •US equity markets rallied following the release of a fresh batch of economic data that eased concerns about the health of the economy and some further robust corporate earnings releases - Dow gained +555-points or +1.39%, rising for the fifth time in six sessions. Cisco Systems Inc jumped +6.8% to be the leading performer in the 30-stock index after the software and networking company posted better-than-expected adjusted earnings per share (EPS) and revenue for its fiscal fourth quarter and outlined a restructuring plan that will see its worldwide workforce shrink by ~7% after the closing bell of the previous session. Intel Corp rose +3.87% despite the Financial Times (FT) reporting that talks with Japan’s Softbank Group Corp (+2.16%) to manufacture chips rivalling those made by Nvidia Corp (+4.05%) fell apart in recent months. SoftBank blamed Intel for the collapse of the talks due to its inability to meet demands for volume and speed, and has now held talks with Taiwan Semiconductor Manufacturing Co (down -0.53%), according to the FT. Boeing Co rose +4.69% after El Al Israel Airlines confirmed a US$2.5B deal to buy up to 31 of the aerospace giant's 737 Max planes. Nike Inc gained +5.07% after Bill Ackman’s Pershing Square Capital Management disclosed a new stake in the company. A U.S. Securities and Exchange Commission (SEC) filing recorded that the hedge fund investor bought just over 3M shares in the athletic apparel major.
14 AUG 2024 · US equity markets advanced after the annual rate of headline consumer inflation fell below 3% for the first time since March 2021 - Dow gained +243-points or +0.61%, with American Express Co (up +2.0%) the leading performer in the 30-stock index. The broader S&P500 added +0.38%, extending gains into a fifth straight session that has lifted the index +4.83%. Financials (up +1.29%) led eight of the eleven primary sectors higher.
13 AUG 2024 · •US equity markets rallied strongly following tamer-than-expected wholesale inflation data, with the S&P 500 and Nasdaq booking their biggest four-day percentage gains of 2024 - Dow gained +409-points or +1.04%. Intel Corp jumped +5.73% to be the leading performer in the 30-stock index. A filing showed the company had divested its stake (~1.8M shares) in chip designer Arm Holdings Plc (+5.69%). Nike Inc rallied +5.17% to US$78.50, with analysts at Bernstein Research reiterating their "buy" rating for the stock along with a US$112 price target.
12 AUG 2024 · A mixed and muted session for US equity markets as investors eye inflation and retail sales figures later in the week - Dow fell -141-points or -0.36%, with Boeing Co (down -2.25%) and Procter & Gamble Co (-2.19%) both down over >2%.
11 AUG 2024 · •US equity markets logged modest gains on Friday (9 August) and continued to mount a comeback that saw the S&P 500 and Nasdaq all but erase Monday’s (5 August) rout that saw both indices register their sharpest daily losses since 13 September 2022 - Dow edged +51-points or +0.13% higher, with American Express Co (up +1.85%), Apple Inc (+1.37%) and Salesforce Inc (+1.37%) all rising over >1%. Intel Corp shed -3.81% to be the worst performer in the Dow last Friday (9 August).
Morgans is Australia's largest national full-service retail stockbroking and wealth management network with more than 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices across all states...
show more
Morgans is Australia's largest national full-service retail stockbroking and wealth management network with more than 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices across all states and territories in Australia.
show less
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| Author | Morgans Financial Limited |
| Organization | Morgans Financial Limited |
| Categories | Business |
| Website | - |
| morgans.studio@morgans.com.au |
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