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Morgans AM - Friday, 15 May 2026 by Morgans Financial

The S&P500 and Nasdaq scaled fresh record intra-day and closing highs as chip stocks powered higher and overshadowed hotter-than-expected wholesale inflation figures – Dow slipped -67-points or -0.14%, with Salesforce Inc (down -3.19%) the worst performer in the 30-stock index for a second straight session. Home Depot Inc (down -2.55%) and International Business Machines (IBM) Corp (-2.09%) fell over >2%. Apple Inc (up +1.38% to US$298.87) touched US$300 for the first time, hitting a record intra-day high of US$300.92. Walmart Inc rose +0.86% after The Wall Street Journal reported, citing people familiar with the situation, that the retail giant - the largest private employer in the U.S. - "would cut or relocate about 1,000 corporate workers as it looks to combine more of its global-technology and product teams." A source familiar with the matter confirmed the figure was accurate.

US equity markets retreated as hotter-than-expected inflation figures punctured a rally in chip stocks – Dow added +56-points or +0.11%. UnitedHealth Group Inc (up +3.11%) the leading component in the 30-stock index. Apple Inc +0.72% Salesforce Inc fell -3.48%, while Caterpillar Inc (down -1.58%) and International Business Machines (IBM) Corp (-1.94%) both fell over >1.5%.

•The S&P500 and Nasdaq booked fresh record intra-day and closing highs to cap another strong week as chip stocks soared and investors digested stronger-than-expected jobs data – Dow inched +12-points or +0.02% higher. Salesforce Inc -2.43% Nvidia Corp +1.75% following news after the close of the previous session of a strategic partnership with data centre operator IREN Ltd (+7.65%) to accelerate the deployment of large-scale AI infrastructure, including a potential investment of up to US$2.1B in IREN. "AI factories are becoming foundational infrastructure for the global economy," said Nvidia founder and Chief Executive Officer (CEO) Jensen Huang.

US equity markets mixed as investors awaited a host of big name technology companies to release quarterly results after the closing bell along with the Federal Reserve’s latest monetary policy pronouncements – Dow fell -280-points or -0.57%, with Boeing Co (down -2.86%), Goldman Sachs Group Inc (-2.26%), International Business Machines (IBM) Corp (-2.55%) and Travelers Companies Inc (-2.51%) all falling over >2%. Visa Inc jumped +8.26% after the world's largest payment processor reported much stronger-than-expected earnings per share (EPS) for the first quarter after the close of the previous session.

US equity markets mixed ahead of tomorrow morning’s AEST interest rate decision from the Federal Reserve - Dow fell -179-points or -0.38%. JPMorgan Chase & Co dropped -4.66% and was the worst performer in the 30-stock index after Marianne Lake, the investment bank’s Chief Executive Officer (CEO) of Consumer & Community Banking, disclosed higher-than-expected expense projections of US$105B for next year (versus current consensus forecasts of US$101B) at the Goldman Sachs Group Inc (up +1.14%) U.S. Financial Services Conference and said that she "would characterize the environment as being a little bit more fragile." Boeing Co (-2.86%) and Verizon Communications Inc (-2.81%) both fell over >2.5%. Nvidia Corp eased -0.31% after President Trump said the U.S. will allow the firm to ship its H200 chips to "approved customers" in China and other countries.

This week, host Chris Titley welcomes Andrew Mitchell, Founder and Senior Portfolio Manager at Ophir. With a keen eye for emerging opportunities, Andrew has played a pivotal role in building Ophir into a leading investment firm. In this episode, Andrew shares his insights on navigating market dynamics, identifying growth sectors, and effective portfolio management strategies. Whether you’re an investor, fund manager, or business leader, this conversation offers valuable perspectives on the current investment landscape.

Morgans AM: Thursday, 17 October 2024 by Morgans Financial

US equity markets settled with modest declines in the wake of slightly stickier inflation data for September - Dow slipped -58-points or -0.14%. Boeing Co fell -1.84% to be the worst performer in the 30-stock index. International Business Machines (IBM) Inc (-0.55%) touched a record all-time high (US$235.83) earlier in the session. Amazon.com Inc rose +0.80% after the on-line retailing giant said that sales and number of items sold during Prime Big Deal Days on Tuesday (8 October) and Wednesday (9 October) were the most ever for one of its October events. Doug Herrington, Chief Executive Officer (CEO) of Worldwide Amazon Stores, said it “marked a strong start to the holiday shopping season.” Amazon was in trying to get a jump on the key sales period heading into Christmas. Target Corp’s (up +1.06%) second Target Circle Week of the year kicked off on Sunday (6 October) and runs through Saturday (12 October). Dow component Walmart Inc’s (down -0.98%) Holiday Deals event runs until Sunday (13 October).

US equity markets and bond markets were CLOSED overnight for Memorial Day. In US economic data, the S&P Core Logic Case-Shiller Home Price for March, the Federal Housing Finance Agency (FHFA) House Price Index for March, the Conference Board’s Consumer Confidence survey for May, and the Dallas Fed Manufacturing Index for May are released tonight AEST.

Morgans AM Monday, 27 May 2024 by Morgans Financial

US equity markets retreated, reversing earlier gains as the latest ‘flash’ purchasing managers indices (PMIs) fuelled fresh interest rate concerns and overshadowed a renewed rally for chipmaking giant Nvidia Corp - Dow dropped -606-points or -1.53%, marking the largest daily percentage decline since 22 March and with all of the 30-stock index’s components settling in the red. Boeing Co shed -7.55% after Chief Financial Officer (CFO) Brian West addressed an investor conference in New York and warned investors that the company’s second-quarter cash burn could match or be worse than the first quarter’s US$3.9B burn and that production struggles are likely to continue in the current quarter. Moreover, Boeing is unlikely to see positive cash flow this year. The comments came after Boeing undertook a US$10B corporate-debt issuance in late April. Intel Corp fell -426%, while Johnson & Johnson (-2.48%), McDonald’s Corp (-2.95%) and Walt Disney Co (-2.29%) all fell over >2%.

Morgans AM: Thursday, 23 May 2024 by Morgans Financial

US equity markets ticked higher as investors digested results from retailers and eyed the released of semi-conductor giant Nvidia Corp’s (up +0.64%) first quarter result after the closing bell tonight AEST - Dow edged +66-points or +0.17% higher. International Business Machines (IBM) Corp rose +2.09%after it said it was expanding several artificial intelligence (AI) partnerships with companies including Meta Platforms Inc (down -0.90%) and Salesforce Inc (-1.15%). Microsoft Corp added +0.87% to US$429.04 to close just cents shy of a record high after it unveiled new tools to develop AI software during the first day of its Microsoft Build developer conference.

Morgans AM: Tuesday, 21 May 2024 by Morgans Financial

Morgans AM: Monday, 20 May 2024 by Morgans Financial

US equity markets settled with modest declines a day after all three (3) benchmark indices logged record closing highs - Dow slipped -39-points or -0.10% to 39,869.38, briefly topping >40,000 for the time earlier in the session. American Express Co (-0.16%) and Amazon.com Inc (-1.27%) are the two top performing Dow stocks so far this year, up +28.81% and +20.86% respectively year-to-date. However, given the Dow is a price-weighted average it’s Caterpillar Inc (down -2.59%) and Goldman Sach Group Inc (-0.34%) that have been the biggest points contributors to the 30-stock index this year to date.

All three (3) benchmark US equity indices rallied to record highs, with investor sentiment buoyed by the first cooler-than-expected consumer inflation print in four months accompanied by softer retail sales in April - Dow climbed +350-points or +0.88% to 39,908.00, settling with its 18th record close of 2024. Salesforce Inc (up +3.88%) was the leading performer in the 30-stock index, while Amgen Inc (+2.45%), Home Depot Inc (+2.4%) and Merck & Co Inc (+2.39%) climbed ~2.5%. On the downside, Walt Disney Co fell 2.45% after Chief Executive Officer (CEO) Bob Iger said the company had invested too much in its streaming service and was taking steps to address enduring profitability challenges. Boeing Co fell 2.09% after the Department of Justice said the jet maker had violated a 2021 settlement stemming from two fatal 737 crashes.

US equity markets advanced, shrugging off stronger-than-expected wholesale inflation data and with investors’ focus now turning to the latest consumer price inflation figures tonight AEST - Dow rose +127-points or +0.32%. Boeing Co rose +1.30% despite delivering fewer jets in April amid quality problems that forced a slowdown in production. The company reported that it shipped 24 jets in April (including 16 737 MAX jets), down from a total of 29 jets in March (including 24 MAX jets). In April 2023, Boeing delivered 26 jets, including 17 MAX jets. Thus far in 2024, Boeing has delivered 107 jets, including 82 MAX jets. That compares with 156 jets in the first four months of 2023, including 128 MAX jets. Intel Corp (up +1.77%), American Express Co (+1.21%) and JP Morgan Chase & Co (+1.4%) also all rose over >1%.

US equity markets mixed following a session absent any major news or data, and with investors eyeing the latest round of inflation figures - Dow eased -81-points or -0.21%, snapping an eight session winning streak. Intel Corp rose +2.21% after The Wall Street Journal reported that the company is in talks with Apollo Global Management about providing US$11B in funds to help the chipmaker build a plant in Ireland.

US equity markets advanced although investor sentiment was kept in check after consumer sentiment data (including inflation expectations) deteriorated and ahead of inflation data later this week - Dow rose +125-points or +0.32%, booking an eighth consecutive session advance and best weekly performance of 2024 to date. Goldman Sachs Group Inc settled -0.18% lower after touching a record intra-day high of US$458.75. The broader S&P500 added +0.16%, with Consumer Staples (up +0.64%), Information Technology (+0.48%) and Financials (+0.46%) the leading primary sector performers on Friday (10 May). Consumer Discretionary (down -0.61%) and Energy (-0.55%) were the laggards. The Nasdaq dipped -0.03%. The small capitalisation Russell 2000 lost -0.67%.

US equity markets advanced as the latest weekly jobless claims figures fuelled fresh optimism around Federal Reserve interest rate cuts - Dow rallied +331-points or +0.85% to 39,387.76 to book its seventh consecutive session advance and highest close since 1 April. The 30-stock index also settled within 1.1% of its 28 March record closing high (39,807.37). Home Depot Inc (up +2.54%) and Caterpillar Inc (+2.11%) climbed over >2% to be the leading index components overnight.

US equity markets were mixed following a subdued session - Dow sealed its sixth consecutive session advance, rising +172-points or +0.44% to 39,056.39 to book its longest winning streak since the period that ended on 19 December (when the index rose for nine straight trading days). It also marked the first time that the 30-stock index closed above >39,000 since 3 April.

Morgans Chief Economist Michael Knox says that for the RBA to get inflation down to 2.5%, unemployment must rise above 4.5% in Australia. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our latest articles: https://morgans.com.au/insights On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

US equity markets settled with modest gains overnight - Dow edged +32-points or +0.08%, recording its fifth consecutive session gain and longest winning streak since 19 December last year (that has lifted the 30-stock index +2.8%). Apple Inc (up +0.38%) hosted a product launch event overnight called ‘Let Loose’, unveiling an iPad Pro powered by its new M4 chip capable of running artificial intelligence (AI) applications locally. Apple called the latest iPad Pro an "outrageously powerful device for artificial intelligence," that with the M4 chip features Apple’s "most powerful Neural Engine ever." Apple said the "Neural Engine in M4 is more powerful than any neural processing unit in any AI PC today."

US equity markets advanced, building on last Friday’s (3 May) strong gains - Dow extended gains into a fourth straight session, up +177 points or +0.46%. Walt Disney Co (up +2.47%) was the leading performer in the 30-stock index ahead of the release of its fiscal second quarter result tonight AEST.

Morgans Chief Economist Michael Knox says that though the FED are easing quantitative tightening, US consumer demand is still too healthy to allow rate cuts. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

US equity markets rallied on Friday (3 May) after the latest jobs data printed weaker-than-expected for the first time in four months, with all three benchmark indices rising over >1% on the same day for the first time since 22 February - Dow rallied +450-points or +1.18%. Apple Inc gained +5.98%, with the iPhone maker logging its best single session gain since 30 November, 2022 after unveiling stronger-than-expected fiscal second quarter result after the close of the previous session that included a record US$110B share buyback programme. Amgen Inc +11.82% - its best single session advance since 2009 - after the biopharmaceutical giant posted quarterly earnings that came in ahead of expectations and provided a positive update about trials of its injectable weight-loss drug MariTide after the close of last Thursday’s (2 May) session.

Morgans AM: Friday, 3 May 2024 by Morgans Financial

US equity markets retreated overnight, reversing earlier gains as investors digested the latest monetary policy announcements from the Federal Reserve - Dow added +87-points or +0.2%, unwinding an earlier rally of over >500-points. Amazon.com Inc climbed +2.17% after reporting better-than-expected first-quarter earnings after the close of the previous session, underpinned by growth in its cloud computing and advertising businesses. Johnson & Johnson rose +4.56% after proposing a US$6.5B settlement that would resolve nearly all outstanding talc ovarian cancer lawsuits it faces.

Our Model of US GDP says steady growth just below trend. Just where the Fed needs it to keep US Inflation falling. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

A slowing economy and rising unemployment pushes down interest rates. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

Morgans AM: Wednesday, 1 May 2024 by Morgans Financial

US equity markets advanced, building on last week’s rally ahead of the busiest week on the US first quarter earnings calendar and employment data and the Federal Reserve’s latest monetary policy meeting - Dow added +146-points or +0.38%. Boeing Co rose +3.75% amid reports it had tapped the bond market to raise US$10B after last week reporting it burned through nearly $4 billion in cash in the first quarter.

US equity markets rallied on Friday (26 April), shrugging off fresh evidence of sticky inflation as investors cheered strong earnings from technology majors - Dow rose+153-points or +0.4%. Amazon.com Inc (up +3.43%) was the leading performer in the 30-stock index, buoyed by strong first quarter results from artificial intelligence (AI) hyperscaler peers, including Microsoft Corp (+1.82%). Goldman Sachs Group Inc rose +1.79% to US$427.57, touched a record all-time high of US$428.53.

Morgans AM: Friday, 26 April 2024 by Morgans Financial

Morgans AM: Wednesday, 24 April 2024 by Morgans Financial

US equity markets rebounded to open a busy week headlined by a host of major corporate earnings releases, and gross domestic product (GDP) growth and inflation data - Dow gained +254-points or +0.67%, extending its advance into a third consecutive session. Goldman Sachs Group Inc (up +3.3%) was the leading performer in the 30-stock index, with just five components settling in the red. Salesforce Inc rose +1.27% following reports that talks to acquire data management firm Informatica (down -10.51%) had broken down. News of the possible acquisition sent Salesforce’s stock tumbling last week.

US equity markets retreated, with large capitalisation technology stocks under particular pressure and with traders continuing to assess the latest developments in the Middle East and quarterly earnings - Dow gained +211-points or +0.56%.

The S&P 500 and Nasdaq fell for a fifth straight session as a slew of earnings reports lifted pockets of the market, including insurers and airlines, while technology stocks underperformed - Dow edged +22-points or +0.06% higher, with UnitedHealth Group (up +2.96%) the leading performer in the 30-stock index for a third straight session, getting a further boost after health insurance peer Elevance Health Inc (+3.19%) raised its full-year earnings forecast after topping first quarter earnings and revenue estimates thanks to premium rate hikes. However, Microsoft Corp (down -1.84%), Intel Corp (-1.79%) and Salesforce Inc (--1.59%) all fell over >1.5.

Morgans Chief Economist Michael Knox gives an update on the Fed Funds and the RBA Cash Rate. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

US equity markets retreated, with both the S&P 500 and Nasdaq notching their first four-day losing streaks since January and hitting 2-month lows - Dow eased -46-points or -0.12%, unwinding an earlier rally of +238-points and logging its seventh negative session in the past eight. UnitedHealth Group Inc rose +2.15%, leading the gainers list for the 30-stock index for a second day after posting a stronger-than-expected first quarter result on Tuesday (16 April). Goldman Sachs Group Inc (up +1.78%) and Nike Inc (+1.55%) both rose over >1.5%.

US equity markets settled mostly in the red following a choppy session as markets continue to adjust interest rate expectations - Dow added +64-points or +0.17%. Boeing Co (up +1.63%) snapped an 11-session losing streak -the stock’s equal longest stretch of consecutive declines.

US equity markets retreated as a fresh rise in bond yields and ongoing concerns around instability in the Middle East overshadowed a strong first quarter result from investment banking major Goldman Sachs - Dow fell -248-points or -0.65%, relinquishing an earlier rally of over >1% to log a sixth straight session decline - the longest losing streak since June. Five (5) Dow components touched lows not seen in more than a year – Biogen Inc (down -0.70%), Boeing Co (-1.02%), Brown-Forman Corp (-0.08%), Verisign Inc (-1.20%) and Walgreens Boots Alliance Inc (-1.12%).

US equity markets retreated after major U.S. bank results failed to impress, capping a week marked by market-moving inflation data, evolving expectations for U.S. Federal Reserve policy, and escalating geopolitical tensions - Dow shed -476-points or -1.24% after falling as much as -582-points or -1.51% earlier in the session. Chevron Corp -1.81% after Hess, which it has agreed to acquire, warned arbitration with ExxonMobil over Guyanese oilfield assets could push the acquisition into 2025.

Strong corporate profits drive corporate yields lower and stock prices higher. Check out more from Morgans: Visit the Morgans website: www.morgans.com.au Check out our blog: www.morgans.com.au/Blog On Facebook: www.facebook.com/MorgansAU On Instagram: www.instagram.com/Morgans.Australia On Twitter: twitter.com/MorgansAU

US equity markets advanced, rebounding from the previous session’s sell-off that was triggered by a hotter than expected US consumer price inflation reading for March - Dow dipped -2-points or -0.01%.

US equity markets retreated following a stronger-than-expected March inflation report that prompted federal-funds futures markets to quickly price out rate cuts for the Federal Reserve’s June and July monetary policy meetings - Dow shed -422points or -1.09%, with Home Depot Inc (down -3.00%) and Intel Corp (-2.95%) falling ~3%. Boeing Co fell -1.96% a day after the New York Times reported a whistleblower raised concerns about the safety of its Dreamliner 787s. On the positive side of the ledger, Walmart Inc (up +1.39%) was the strongest performer in the 30-stock index, while Chevron Corp (+0.41%) logged a record closing high (US$162.67).

US equity markets edged higher, rebounding late in the session ahead of key inflation figures for March tonight AEST - Dow dipped -9-points or -0.02%. Boeing Co (down -1.89%) fell for a seventh straight session – its longest losing streak since 3 September 2023 - after the company reported that it delivered 83 commercial airplanes in the first quarter, which was its lowest quarterly total in nearly three years and below consensus analyst forecasts for 105 planes. It marked a steep decline from the 157 units it delivered in the fourth quarter and the 130 units it delivered in the first quarter of 2023. Meanwhile, a New York Times report said the US aviation regulator was investigating whistleblower claims about safety issues in the production of Boeing’s 787 Dreamliner plane. The company said the claims were “inaccurate”. Intel Corp rose +0.92% after unveiling its latest artificial intelligence (AI) chip, called Gaudi 3. Intel says the new Gaudi 3 chip is over twice as power-efficient as Nvidia Corp’s H100 GPU, and can run AI models one-and-a-half times faster than its competitor’s product. It also comes in different configurations like a bundle of eight Gaudi 3 chips on one motherboard or a card that can slot into existing systems.

US equity markets settled little changed in a subdued start to the week as investors eye key inflation figures on Wednesday night AEST (10 April) - Dow dipped -11-points or -0.03%. Nike Inc (up +1.31%) and Home Depot Inc (+1.17%) both rose over >1%. However, Intel Corp fell -1.89% as R2 Semiconductor filed a patent infringement lawsuit against its French unit and two of its customers, Dell Technologies Inc (-4.20%) and Hewlett-Packard Enterprise Co (up +0.78%), in a case that could see the technology giants blocked from importing certain microchips to the country.