Morgans AM: Monday, 19 June 2023

US equity markets retreated ahead of the holiday long weekend, taking a breather following a six-session winning streak that had lifted the S&P500 and Nasdaq to 14-month highs - Dow fell -109-points or -0.32%, The broader S&P500 -0.37%, with Communication Services (down -1.00%) and Information Technology (-0.83%) leading eight of the eleven primary sectors lower. Utilities outperformed on Friday (16 June) with a +0.53% gain. The Nasdaq -0.68%. Apple Inc (down -0.59%) and Microsoft Corp (-1.66%) retreated from record highs. The small capitalisation Russell 2000 lost -0.73%.