US equity markets advanced following another volatile session, clawing back some of the selloff as investors attempted to shake off concerns about banking-sector stability - Dow added +75-points or +0.23%, paring an earlier rally of as much as +481-points. The broader S&P500 settled +0.30% higher, having been as much as +1.8% higher at its session peak. However, the gains were concentrated, with Communication Services (up +1.83%) and Information Technology (+1.65%) the only primary sectors to advance. Energy (down -1.36%) sat at the bottom of the primary sector leaderboard The Nasdaq gained +1.01%, having jumped ~2.5% in earlier trading. Apple Inc (up +0.70%), whose market capitalisation tops the S&P500 at ~US2.5 trillion, touched a 6-month high of US$161.55. Apple now trades 7% above both its 50-day moving average of US$148.34 and its 200-day moving average of US$147.8. Microsoft Corp, the second largest stick by market capitalisation at ~US$2.06 trillion, gained +1.97%. Netflix Inc rallied +9.01% following a report from YipitData that said the streaming giant’s gross additions in Canada have improved. Chipmaker Nvidia Corp (+2.73%) extended its recent rally into an eight consecutive session. The small capitalisation Russell 2000 lost -0.41%.

Morgans AM: Friday, 24 March 2023

Money News

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

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, 24 March 2023

Morgans Financial Limited

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