Morgans AM - Monday, 3 August 2026

•US equity markets advanced on Friday (31 July) to cap a volatile week – Dow rose +277-points or +0.53%. Amazon.com Inc soared +15.32% after posting ‌its biggest quarterly revenue growth in over four years that helped alleviate investor concerns about potential overspending on artificial intelligence (AI) data centres. ‘Magnificent Seven’ mega capitalisation technology peers Alphabet Inc (+6.73%), Microsoft Corp (+3.02%) and Nvidia Corp (+2.93%) also posted solid gains. However, Apple Inc shed -7.35% after warning that supply constraints would hurt growth