Morgans AM: Wednesday, 13 September 2023

US equity markets declined and oil prices hit fresh 2023 highs ahead of the release of the latest monthly inflation figures tonight AEST - Dow dipped -18 points or -0.05%, The broader S&P500 eased -0.57%, with Information Technology (down -1.75%) and Communication Services (-1.06%) falling over >1% to lead eight of the eleven primary sectors lower. Energy (up +2.31%) was the clear outperformer overnight. Oracle Corp tumbled -13.50% to be the worst performing S&P500 component after the business software giant posted weaker-than-expected second quarter earnings and revenue guidance after the close of the previous session.