Morgans AM: Thursday, 4 April 2024

US equity markets settled little changed following a slew of mixed economic data - Dow slipped -43-points or -0.1%, unwinding an earlier rise of over >135-points to log a third consecutive session decline. Walt Disney Co fell -3.13% after shareholders re-elected all 12 of the entertainment giant's directors at the annual shareholder meeting overnight, dealing activist investor Nelson Peltz defeat in his months-long campaign to claim spots on the board for himself and former chief financial officer Jay Rasulo. Intel Corp tumbled -8.22% as analysts and investors mulled yesterday’s announcement that its foundry business recorded a $7 billion operating loss in 2023. However, Amazon.com Inc rose +0.95% after it said it would lay off hundreds of employees in its Amazon Web Services unit.