Morgans AM: Wednesday, 29 May 2024

US equity markets resumed trading on a mixed note following the Memorial Day long weekend, although Nvidia Corp continued to power ahead and push the Nasdaq to fresh record highs - Dow fell -217-points or -0.55%, paring an earlier decline of over >300-points. Healthcare names led the 30-stock index lower, with Merck & Co down -2.63%, Amgen Inc -1.85% and Johnson & Johnson -1.76%. Just seven stocks in the Dow finished in positive territory. Chevron Corp rose +0.82% after its US$53B acquisition of Hess Corporation (+0.44%) was approved by the target’s shareholders.