Morgans AM: Wednesday,12 June 2024

The S&P 500 and Nasdaq shrugged off earlier session declines to log fresh record intra-day and closing highs ahead of a double feature of market-moving economic events tonight AEST – namely, inflation figures and the Federal Reserve’s latest monetary policy pronouncements - Dow eased -121-points or -0.31%, with American Express Co (down -3.4%) the worst performer in the 30-stock index. Boeing Co fell -2.43% after the jet maker reported deliveries and orders tumbled in May. The company received just one new order for four jets last month, compared to seven planes across three orders in April. Boeing delivered 24 planes last month, down from 50 in May 2023. Nineteen of those aircraft were 737 MAX jets, three more than in April but 16 fewer than in the prior year. The company’s backlog declined to 5,625 in May from 5,646 in April. Goldman Sachs Group Inc (-2.05%) and JPMorgan Chase & Co (-2.63%) fell over >2%.