Morgans AM: Friday, 11 October 2024

US equity markets settled with modest declines in the wake of slightly stickier inflation data for September - Dow slipped -58-points or -0.14%. Boeing Co fell -1.84% to be the worst performer in the 30-stock index. International Business Machines (IBM) Inc (-0.55%) touched a record all-time high (US$235.83) earlier in the session. Amazon.com Inc rose +0.80% after the on-line retailing giant said that sales and number of items sold during Prime Big Deal Days on Tuesday (8 October) and Wednesday (9 October) were the most ever for one of its October events. Doug Herrington, Chief Executive Officer (CEO) of Worldwide Amazon Stores, said it “marked a strong start to the holiday shopping season.” Amazon was in trying to get a jump on the key sales period heading into Christmas. Target Corp’s (up +1.06%) second Target Circle Week of the year kicked off on Sunday (6 October) and runs through Saturday (12 October). Dow component Walmart Inc’s (down -0.98%) Holiday Deals event runs until Sunday (13 October).