US equity markets eased, trimming earlier session gains - Dow fell -200-points or -0.59%, The broader S&P500 slipped -0.20% to 4,273.79, reversing earlier gains that briefly lifted the index into technical bull market territory. The index touched an intra-session high of 4,299.28, which is 20.19% above the near two-year closing low of 3,577.03 set on 12 October last year. Declines for the Industrials (down -0.71%) and Financials (-0.65%) sectors offset gains for the Communication Services (up +0.58%) and Utilities (+0.45%) sectors. The Nasdaq dipped -0.09%. Apple Inc settled –0.76% lower at US$179.58 after briefly touching a fresh record intra-day high (US$184.95). The iPhone maker unveiled its highly anticipated virtual reality headset (Vision Pro) and a slew of software updates at its annual Worldwide Developers Conference overnight. Intel Corp shed -4.63% as Apple said an upcoming Mac Pro computer will include a new homemade chip (M2 Ultra), representing the completion of the company’s effort to bring its own processors to its entire PC line-up. The small capitalisation Russell 2000 lost -1.32%, handing back some of last Friday’s (2 June) +3.56% rally.

Morgans AM: Tuesday, 6 June 2023

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, 6 June 2023

Morgans Financial Limited

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