US equity markets retreated to cap their worst September performance since 2008 and logging their third straight quarterly decline as assertive Federal Reserve action pushed Treasury yields and the dollar higher- Dow dropped -500-points or -1.71% to 28,725.51, settling below <29,000 for the first time since November 2020. Nike Inc dropped -12.81% following the release of the athletic apparel giant’s fiscal first quarter result that raised concerns about margins (amid pressure from higher freight costs, merchandise markdowns and the effects of a tougher foreign-exchange backdrop) and inventory.

Morgans AM: Monday 3 October, 2022

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: Monday 3 October, 2022

Morgans Financial Limited

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