U.S. stocks were split on Monday as a rise in treasury yields pressured growth names and traders braced for the final week of a volatile September. The Dow Jones Industrial Average rose by +71 points or +0.20% to 34,869 as energy stocks and bank shares pushed higher. The broader S&P 500 slipped by -0.28% and the Nasdaq shed -0.52% as major tech stocks including Alphabet (-0.10%), Apple (-1.05%), Microsoft (-1.8%) and Nvidia (-1.91%) struggled. The small capitalisation Russell 2000 Index rose +1.5%. The rise in yields appeared to boost financial stocks. Shares of Goldman Sachs and JPMorgan Chase rose more than +2%, making them some of the best performers in the Dow. Another bright spot for the market was energy, with stocks like Exxon Mobil and Occidental Petroleum climbing +3% and +7% respectively, as crude continued its September run, topping $75 a barrel.

Morgans AM: Tuesday, 28 September 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, 28 September 2021

Morgans Financial Limited

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