US equity markets - Dow fell -252.40 points or -0.76% to 33,044.556, The broader S&P500 -30.01 points -0.76% to 3,898.85. The Nasdaq -104.74 points or -0.96% to 10,852.27. The small capitalisation Russell 2000 -18.02 points or -0.97% to 1,836.35.

Morgans AM: Friday, 20 January 2023

Friday Update, Morning Radio with Phillip and Dave – January 20, 2023. Interested in finding out how much risk you have in your portfolio? Click or call to schedule your 1-on-1 complimentary phone consultation with Phillip.
Call: (863) 382-0037 or click: https://calendly.com/phillipstatler/30-minute-introduction?month=2022-08

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2023 Morning Radio with Phillip and Dave

Friday Update, Morning Radio with Phillip and Dave – January 20, 2023

US equity markets advanced to cap a choppy trading week, with investors eyeing a big fortnight on the corporate earnings calendar - Dow gained +331-points or +1.00%. Goldman Sachs Group Inc fell -2.54% after the Wall Street Journal (WSJ) reported that the Federal Reserve is investigating the investment bank’s consumer business. The regulator is looking into whether Goldman had the right safeguards in place to protect consumers when it increased lending in its Marcus division, according to the WSJ report, citing sources familiar with the matter. The broader S&P500 rose +1.89% to log its best daily percentage gain since 6 January. Communication Services (up +3.96%) and Information Technology (+2.72%) both rose over >2.5% to lead all eleven primary sectors higher. Costco Wholesale Corp rose +2.26% after announcing late Thursday (19 January) that its board reauthorised a stock buyback program of up to US$4B. The Nasdaq rallied +2.66%. Netflix Inc jumped +8.46% after the streaming giant posted stronger-than-expected paid subscriber numbers for the fourth quarter (7.66M versus consensus 4.57M) after the close of last Thursday’s (19 January) session, while the company also disclosed that co-Chief Executive Officer (CEO) Reed Hastings would be stepping down from his position and transitioning to the post of executive chairman. Google parent Alphabet Inc gained +5.34% after becoming the latest technology company to announce job cuts, with plans to cut 12K jobs across various areas, roles and regions within the company (equating to over 6% of its global workforce). All of Amazon.com Inc (up +3.81%), Meta Platforms Inc (+2.37%), Microsoft Corp (+3.57%) and Twitter Inc have slashed their head counts recently. Eli Lilly and Co fell -1.43% after the U.S. Food and Drug Administration (FDA) rejected the pharmaceutical company’s experimental Alzheimer’s disease treatment as it had not provided enough trial data. The small capitalisation Russell 2000 rose +1.69%.

Morgans AM: Monday, 23 January 2023

US equity markets continued their strong start to 2023, with both the S&P500 and Nasdaq posting their highest settlements since 2 December last year - Dow gained +254-points or +0.76%. Salesforce Inc rose +3.05% following reports that activist investor Elliott Management Corp has made a multibillion-dollar investment in the software company. The broader S&P500 rose +1.19% to 4,019.81 with Information Technology (up +2.28%), Communication Services (+1.78%) and Consumer Discretionary (1.57%) all rising over >1.5% to lead ten of the eleven primary sectors higher. Energy (down -0.20%) was the only primary sector to settle in the red. According to Bespoke Investment Group, the S&P500 closed more than >1% above its 200-day moving average for the first time since April last year and the more than year long downtrend has been broken. The Nasdaq rallied +2.01% to 11,364.41, with Apple Inc up +2.35% after Morgan Stanley nominated the stock among their top picks, saying the China re-opening has “important implications” for demand as well as supply. Spotify Technology SA rose +2.07%, paring an earlier rally of as much as 6.4% after the music streamer said it would axe ~6% of its workforce - the latest in a series of large cuts announced by high-flying technology groups.  Chipmakers Advanced Micro Devices Inc (up +9.22%),  Nvidia Inc (+7.59%) and Qualcomm Inc (+6.62%) also traded particularly strongly. The small capitalisation Russell 2000 rose +1.25%.

Morgans AM: Tuesday, 24 January 2023

US equity markets mixed as investors continued to digest the latest batch of corporate earnings releases - Dow rose +104-points or +0.31%, booking a third straight session of gains. The broader S&P500 dipped -0.07%, with Communication Services (-0.69%) and Health Care (-0.65%) both down over >0.5% and leading five of the eleven primary sectors lower. Industrials sat atop the primary sector leaderboard with a +0.65% rise.  The Nasdaq slipped -0.27%. The small capitalisation Russell 2000 lost -0.27%.

Morgans AM: Wednesday, 25 January 2023

US equity markets rallied as investors continued to comb through the latest batch of corporate earnings releases, and after a stronger-than-expected fourth quarter gross domestic product (GDP) print - Dow rose +206-points or +0.61%, The broader S&P500 advanced +1.10% to 4,060.43 and a near two month high, with the Energy sector (up +3.32%), Consumer Discretionary (+2.03%), Communication Services (+1.65%) and Information Technology (+1.61%) all climbing over >1.5% and leading ten of the eleven primary sectors higher. More defensive sectors underperformed, with Consumer Staples (down -0.28%) the only primary sector to settle in the red. Tesla Inc jumped +10.97% after reporting a reported a mixed fourth quarter result after the close of the previous session. Chevron Corp rose +4.86% after announcing a US$75B stock buyback programme and a dividend hike (to US$1.51 per share from US$1.42) after the closing bell of Wednesday’s (25 January) session.  The Nasdaq rallied +1.76%. The small capitalisation Russell 2000 gained +0.57%.

Morgans AM: Friday, 27 January 2023

US equity markets rallied to cap a strong week that saw investors weigh a host of key corporate earnings releases and key economic data, and as investors eye another busy week ahead on the earnings calendar along with some key global central bank interest rate decisions – Dow edged +29-points or +0.08% higher to book a sixth consecutive session of gains and longest winning streak since late October last year. The broader S&P500 rose +0.25% to 4,070.56, recording its highest settlement since 2 December last year. The Consumer Discretionary sector gained +2.27% to be the leading primary sector performer on Friday (27 January) underpinned by the latest double-digit percentage rally for Tesla Inc (up +11.00%). Electric vehicle (EV) manufacturer Lucid Group Inc spiked +43.00% amid rumours that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, intended to take the company private. Energy (down -1.99%) was the worst performing primary sector but still sits +4.2% higher year-to-date. With 30% of the Energy sector's 23 companies having reported quarterly results so far, fourth-quarter earnings are expected to have climbed +60% from a year earlier, and +155% for full-year 2022, according to Refintiv IBES. But earnings for the Energy sector are expected to decline -15% this year, the biggest drop among the 11 S&P 500 sectors. Hasbro Inc tumbled -8.11% after the toymaker warned of weak holiday quarter results and said it would cut 1,000 jobs (equating to ~15% of its workforce). The Nasdaq gained +0.95% to 11,621.71, the technology centric indice’s highest close since 14 September last year. Intel Corp dropped -6.41% after the chipmaker’s fourth quarter result released after the closing bell of the previous session fell short of consensus analyst expectations, as did the accompanying outlook. The small capitalisation Russell 2000 rose +0.44% (to be up almost 7% month-to-date).

Morgans AM: Monday, 30 January 2023

US equity markets retreated ahead of a week full of high-profile risk events, including key central bank interest rate decisions and economic data, and major US corporate earnings releases - Dow fell -261-points or -0.77%.  The broader S&P500 dropped -1.30%, with Energy (down -2.29%), Information Technology (-1.94%), Communication Services (-1.80%) and Consumer Discretionary (-1.71%) all falling over >1.5% to lead ten of the eleven primary sectors lower. Consumer Staples (up +0.07%) was the only primary sector to advance. Johnson & Johnson (J&J) fell -3.70% after The Wall Street Journal (WSJ) reported that a federal appeals court rejected the consumer products and pharmaceutical company’s move to place its liabilities for tens of thousands of claims linking talc-based products to cancer into bankruptcy. The WSJ report said the talc bankruptcy case was dismissed, because the appeals court said J&J’s talc unit, LTL Management LLC, wasn’t in financial distress. J&J faced about 38,000 lawsuits, over links to the company’s Baby Powder to ovarian cancer, asbestos poisoning and other illnesses. The Nasdaq shed -1.96%. Three of the four largest U.S. companies by market value - Alphabet Inc (down -2.45%), Amazon.com Inc (-1.65%) and Apple Inc (-2.01%) - all fell ahead of release of their latest quarterly results after the market close on Thursday night AEST (2 February). The small capitalisation Russell 2000 lost -1.35%.

Morgans AM: Tuesday, 31 January 2023

US equity markets rallied as solid corporate earnings releases and encouraging inflation data pushed the S&P 500 to its best January since 2019 - Dow rose +369-points or +1.09%, The broader S&P500 gained +1.46%, with Materials and Consumer Discretionary both gaining +2.22% to lead all eleven primary sectors higher. PayPal Holdings Inc rose +2.32% following reports that Chief Executive Officer (CEO) Dan Schulman had sent an email to staff announcing plans to lay off ~2K employees or ~7% of the company’s workforce. PayPal  said in August last year that it was targeting at least US$1.3B in cost savings during 2023. The technology-centric Nasdaq climbed +1.67%, cementing its best January performance since 2001 amid a broad-based rally in equities that saw some of 2022’s worst performers take the lead. The small capitalisation Russell 2000 gained +2.45%.

Morgans AM: Wednesday, 1 February 2023

US equity markets staged a late, sharp rebound as investors digested the latest observations from Federal Reserve Chair Jerome Powell following the conclusion of the central bank’s latest two day monetary policy meeting - Dow settled +7-points or +0.02% higher after sliding over >500-points earlier in the session. The broader S&P500 rose +1.05% to 4,119.21, reversing an earlier decline of almost 1% and settling at it highest level since August last year. Information Technology (up +2.29%) and Consumer Discretionary (+1.89%) rallied over >1.5% to lead ten of the eleven primary sectors higher. Energy (down -1.89%) was the only primary sector to settle in the red. Both the Dow and S&P 500 recorded their biggest intraday recovery from session lows since 13 October last year, according to Dow Jones Market Data. The Nasdaq rallied +2.00% to 11,816.32 and its highest level since mid-September last year, boosted by gains for chipmakers. Advanced Micro Devices Inc soared +12.63% after reporting a better-than-expected fourth quarter result after the close of the previous session.   The small capitalisation Russell 2000 gained +1.49%.

Morgans AM: Thursday, 2 February 2023

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.

Phillip Statler is on a mission to provide Highlands County residents with comprehensive retirement planning services to help them feel financially confident for years to come. He sees his clients as family and loves seeing them enjoy their retirement.

Starting out, Phillip entered the financial services industry as a tax advisor, working with clients to plan tax-reduction strategies. He quickly realized the issue of tax reduction was not the only area of concern for his clients, and he wanted to give his clients more thorough, well-rounded guidance encompassing their entire financial portfolios. As a result, Phillip studied for and earned the required licensure to become a financial and investment advisor, and in 2001 he decided to focus primarily on financial planning. Today, he proudly helps clients accomplish more of their retirement bucket list by helping them implement secure and complete retirement strategies with income and retirement planning.

Phillip regularly holds seminars throughout the community. He also hosts two radio shows as a way to reach more consumers with important financial information each day. On weekdays, listen to Phillip’s live financial updates at 8:40 a.m. on 105.7 Lite FM’s “Mornings with Dave,” and on weekends, you can hear the “Statler Financial Radio Show” on NewsTalk WWTK AM 730, Saturdays at 6 a.m. and noon, and Sundays at 10 a.m.

A graduate of Florida State University, Phillip earned his Bachelor of Science in accounting and finance. He is a Registered Investment Adviser of Statler Financial Services, Inc. and is a licensed Enrolled Agent (tax advisor) through the U.S. Treasury’s office. Phillip has passed the Series 65 securities exam and holds his insurance licenses. He also is an Ed Slott Master Elite member as well as a member of the Greater Sebring Chamber of Commerce, National Society of Accountants, Better Business Bureau, Kiwanis of Greater Sebring and First Baptist Church of Sebring. In 2017, Phillip won the Inaugural Highlander Award for Financial Representative of the Year.

Phillip and his wife, Joyce, are lifelong residents of Sebring and are the proud parents of two adult children, Maggie and Colton. They’re also thrilled to be new grandparents to their first granddaughter, Natalie. In his free time, Phillip loves to travel and spend time with his family.

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