Morgans AM: Thursday, 10 August 2023

US equity markets retreated as investors’ attention turned to tonight’s AEST inflation figures - Dow fell -191-points or -0.54%, with Salesforce.com Inc (down -2.70%) and Intel Corp (-2.11%), while Goldman Sachs Group Inc (-1.60%) and JPMorgan Chase & Co (-1.34%) were also notable underperformers. The broader S&P500 lost -0.70%, with Information Technology (down -1.51%), Communication Services (-1.24%) and Consumer Discretionary (-1.20%) all down over >1% to lead seven of the eleven primary sectors lower. Energy (up +1.22%) sat atop the primary sector leaderboard. The technology-centric Nasdaq shed -1.17%, with Apple Inc falling -0.90% and Amazon.com Inc -1.49%. Nvidia Corp -4.72% amid concerns the chipmaker is facing supply constraints for popular graphics chips. Super Micro Computer Inc (down -23.39%) Chief Executive Charles Liang told analysts on the company’s earnings call that the company is seeing supply constraints for the graphics chips coming from Nvidia that are designed for artificial intelligence (AI) applications.. The small capitalisation Russell 2000 lost -0.86%.