A daily bulletin featuring an overnight sharemarket summary and economic news from across the globe, broadcast in the Morgans studio before the Australian stock market opens each morning.

Morgans AM: Your pre-market briefing

US equity markets sold off in the final hour of trading, once again relinquishing an earlier rally - Dow down -313-points or -0.89%, falling for a fifth straight session having climbed over >400-points earlier in the day. The 30-stock average closed below its 200-day moving average for the first time since December 2021.  The broader S&P500 -1.10% to 4,482.73, settling below 4,500 for the first time since October last year after relinquishing an earlier +1.53% rally. Consumer Discretionary (down -1.94%), Materials (-1.49%), Information Technology (-1.33%), Industrials (-1.10%) and Communication Services (-1.14%) all dropped over >1% to lead ten of the eleven primary sectors lower. The Utilities sector (up +0.14%) was the only primary sector to advance.  The Nasdaq -1.30%, giving up an earlier rally of as much as +2.1% and pushing further into official correction territory. The small capitalisation Russell 2000 -1.88%.  Peloton Interactive Inc slumped -23.93% to US$24.22 per share after the stationary bike maker announced it will temporarily halt production of its bikes and treadmills due to waning demand as it tries to control costs. The news saw the stock drop below its September 2019 initial public offer price of US$29 per share.  The stock hit an all-time intraday high of US$171.09 on 14 January of last year.

Morgans AM: Friday, 21 January 2022

Money News

Money News | 047102023 Dianne Colledge, Private Client Advisor at Morgans

US equity markets retreated, with both the S&P 500 and Nasdaq notching their first four-day losing streaks since January and hitting 2-month lows - Dow eased -46-points or -0.12%, unwinding an earlier rally of +238-points and logging its seventh negative session in the past eight. UnitedHealth Group Inc rose +2.15%, leading the gainers list for the 30-stock index for a second day after posting a stronger-than-expected first quarter result on Tuesday (16 April). Goldman Sachs Group Inc (up +1.78%) and Nike Inc (+1.55%) both rose over >1.5%.

Morgans AM: Thursday, 18 April 2024

The S&P 500 and Nasdaq fell for a fifth straight session as a slew of earnings reports lifted pockets of the market, including insurers and airlines, while technology stocks underperformed  - Dow edged +22-points or +0.06% higher, with UnitedHealth Group (up +2.96%) the leading performer in the 30-stock index for a third straight session, getting a further boost after health insurance peer Elevance Health Inc (+3.19%) raised its full-year earnings forecast after topping first quarter earnings and revenue estimates thanks to premium rate hikes. However, Microsoft Corp (down -1.84%), Intel Corp (-1.79%) and Salesforce Inc (--1.59%) all fell over >1.5.

Morgans AM: Friday, 19 April 2024

US equity markets retreated, with large capitalisation technology stocks under particular pressure and with traders continuing to assess the latest developments in the Middle East and quarterly earnings - Dow gained +211-points or +0.56%.

Morgans AM: Monday, 22 April 2024

US equity markets rebounded to open a busy week headlined by a host of major corporate earnings releases, and gross domestic product (GDP) growth and inflation data - Dow gained +254-points or +0.67%, extending its advance into a third consecutive session. Goldman Sachs Group Inc (up +3.3%) was the leading performer in the 30-stock index, with just five components settling in the red. Salesforce Inc rose +1.27% following reports that talks to acquire data management firm Informatica (down -10.51%) had broken down. News of the possible acquisition sent Salesforce’s stock tumbling last week.

Morgans AM: Tuesday, 23 April 2024

US equity markets rallied as investors poured over another busy corporate earnings calendar - Dow extended gains into a fourth consecutive session, rising +264-points or +0.69% to book its longest winning streak since 21 March. Verizon Communications Inc rebounded +2.85% after dropping -4.67% a day earlier following the release of the telecommunications giant’s first quarter result. American Express Co gained +2.56%.

Morgans AM: Wednesday, 24 April 2024

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.

Morgans AM: Friday, 21 January 2022

Morgans Financial Limited

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