Morgans AM: Tuesday, 27 August 2024

US equity markets eased in a quiet session following last Friday’s (23 August) strong gains, with investors eyeing chip giant Nvidia Corp’s (down -2.25%) second quarter result on Wednesday night AEST (28 August) and inflation figures at the back end of the week - Dow added +65-points or +0.16% to 41,240.52, notching its 23rd record close of 2024. Apple Inc (up +0.15%) is likely to unveil its newest phones and the next generations of the Apple Watch and AirPods at an event on 9 September reportedly called “It’s Glowtime”. The iPhone maker is expected to officially announce the long-anticipated iPhone 16, supercharged with artificial intelligence (AI) capabilities. Intel Corp fell -2% following a report from CNBC that said the chip maker has hired advisors, including some with Morgan Stanley (up +0.43%), to help defend the company against potential shareholder activism.