Morgans AM Wednesday, 24 July 2024

US equity markets settled with modest declines as investors digested a busy corporate earnings calendar and eyed second quarter results from the first of the so-called “Magnificent Seven” of large capitalisation technology stocks after the closing bell - Dow slipped -57-points or -0.14%. Walt Disney Co (down -.39%) was the worst performer in the 30-stock index, while McDonald’s Corp (-2.12%), Nike Inc (-1.95%) and Chevron Corp (-1.85%) were also notable underperformers. Boeing Co (up +4.24%) was the best performing Dow component overnight after receiving an additional airplane order from Qatar Airways.