Morgans AM: Monday, 25 March 2024

US equity markets were mostly weaker on Friday (22 March) but capped their biggest weekly advance in three months - Dow fell -305-points or -0.77%. Nike Inc sank -6.90% after the world's largest sportswear maker warned that its revenue in the first half of fiscal 2025 would shrink by a low-single-digit percentage, as it scales back on franchises to save costs. However, FedEx Corp rallied +7.35% after the economic bellwether raised its 2024 guidance and said it would continue to cut costs and trim its spending for the year after the close of the previous session.