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 relinquished earlier session gains to settle lower, with technology stocks under fresh pressure despite some respite from rising US Treasury yields - Dow down -340-points or -0.96%, with economic bellwether Caterpillar Inc (down -3.10%) and Boeing Co (-3.52%) among the key drags on the index. Goldman Sachs Group Inc fell a further -2.0% (following a -6.97% drop in the previous session) after reporting a fall in fourth-quarter profit due to weak trading activity a day earlier. The broader S&P500 shed -0.97%, with Consumer Discretionary (down 1.81%), Financials (-1.65%), Information Technology (-1.37%), Real Estate (1.21%) and Industrials (-1.10%) all dropping over >1% to lead nine of the eleven primary sectors lower. The more defensive Consumer Staples (up +0.68%) and Utilities (+0.46%) sectors were the only primary sectors to close higher, The Nasdaq lost -1.15% to settle ~10.7% below its most recent record closing high in November 2021 and hence pushing the technology centric index into official correction territory. It marked the Nasdaq’s first close in correction territory since March last year and its 66th correction since 1971. The small capitalisation Russell 2000 fell -1.49% to a 52-week low of 2,062.78.

Morgans AM: Thursday, 20 January 2022

Money News

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

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

US equity markets retreated, paring earlier steeper losses as investors digested the latest economic growth data and another swathe of major corporate earnings releases  - Dow fell -375-points or 0.98% (after slipping -43-points or 0.11% on Wednesday (24 April)). International Business Machines (IBM) Corp shed -8.25% after the hardware, software and consulting provider reported softer-than-expected first quarter revenue (up +1.5% year-on-year at US$14.46B versus consensus US$14.55B) after the close of the previous session and confirmed earlier media speculation in announcing that it was acquiring cloud software maker HashiCorp Inc (up +4.49% at US$32.82) in a deal with an enterprise value of US$6.4B (paying US$35 per share).

Morgans AM: Friday, 26 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: Thursday, 20 January 2022

Morgans Financial Limited

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