US equity markets rallied into the close of Friday’s (12 August) session to cap another strong week - Dow gained +424-points or +1.27%, The broader S&P500 rallied +1.73% to 4,280.15. The S&P 500 crossed a closely watched technical level of 4,231 points during last Friday’s (12 August) session, meaning the benchmark index has recouped half its losses since tumbling from its all-time closing peak (4,796.56) set on 3 January. A 50% retracement for some signals a bull market. All 11 primary sectors S&P 500 advanced on Friday (12 August), with Consumer Discretionary (up +2.30%), Information Technology (+2.07%) and Communication Services (+2.02%) all rising over >2%. The Philadelphia Semiconductors Index (+2.99%) and Dow Jones Transport Average (+0.49%) also advanced. The S&P500 Growth Index (up +2.06%) outperformed the S&P500 Value Index (+1.41%).  The Nasdaq climbed +2.09% to 13,047.18. The small capitalisation Russell 2000 also gained +2.09%.

Morgans AM: Monday, 15 August 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, 15 August 2022

Morgans Financial Limited

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