Morgans AM: Wednesday 27 November 2024

Both the Dow and S&P 500 settled at fresh record closing highs as investors digested results from a host of retailers and awaited quarterly earnings from some technology companies after the closing bell - Dow added +124-points or +0.28% to 44,860.31, with Amazon.com Inc (up +3.18%) the leading performer in the stock index. 3M Co (+2.02%), Microsoft Corp (+2.2%) and Walmart Inc (+2.02%) all gained over >2%. Amgen Inc fell -4.76% to be the worst performer in the Dow overnight after data from a Phase 2 study for its experimental weight-loss drug, MariTide, recorded up to 20% average weight loss at 52 weeks, below analysts’ estimates of a weight-loss reduction up to ~25%.