A muted start to the new trading week for US equity markets, with the benchmark indices little changed as Treasury yields climbed and investors eye quarterly reports from big retailers later in the week - Dow dipped -13-points or -0.04% . Boeing Co rose +5.49% following news that Saudi Arabian Airlines is in talks with Airbus SE (up +1.76%) and Boeing for a wide-body jet order. At the same time, Emirates announced an order for two Boeing 777 Freighters at the 2021 Dubai Airshow. The broader S&P500 unchanged, with Utilities (up +1.31%) and Energy (+0.79%) leading seven of the eleven primary sectors higher, while Health Care (down -0.64%) and Materials (-0.46%) were the worst performing primary sectors overnight. Tesla Inc (down  -1.94% at US$1,013.39) continued to slide – and briefly fell below <US$1,000 per share - after the electric vehicle company logged its worst weekly performance in 20-months last week (down -15.4%) after Chief Executive Officer (CEO) Elon Musk commenced with his plans to sell some his holding to fund an options-related tax obligation. Discount variety store Dollar Tree Inc jumped +14.28% following a report last Friday (12 November) that activist investor Mantle Ridge has taken a stake worth at least US$1.8B in the company and will push it to do more to add to shareholder value. The Nasdaq -0.04%. The small capitalisation Russell 2000 fell -0.45%.

Morgans AM: Tuesday, 16 November 2021

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: Tuesday, 16 November 2021

Morgans Financial Limited

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