Morgans AM: Thursday, 14 December 2023

All three benchmark US equity indices hit fresh 52-week highs as investors processed the latest dovish monetary pronouncements from Federal Reserve policymakers - Dow rallied +512-points or +1.40% to 37,090.24, logging its first record closing high since January 2022 and eclipsing >37,000 for the first time. It has been 531 trading days since the Dow’s last 1,000-point milestone, the longest time between milestones since 14,000 to 15,000. Walgreens Boots Alliance Inc (up +7.41%) was the leading performer in the 30-stock index overnight, while Amgen (up +2.78%), Dow Inc (+2.97%), Goldman Sachs Group Inc (+2.87%), Home Depot Inc (+3.06%), and Merck & Co (+2.68%) all gained over >2.5%.