Morgans AM: Tuesday, 14 September 2021

Morgans Financial Limited

The Dow and S&P500 snapped a five session losing streak - Dow up +262-points or +0.76%, with 23 of the indice’s 30 components advancing . The broader S&P500 added +0.23%. Energy (up +2.94%) led eight of the eleven primary sectors higher. Health Care (down -0.61%) was the worst performing primary sector overnight. The Nasdaq dipped -0.07%, extending its decline into a fourth consecutive session. Apple Inc added +0.39% ahead of its annual product launch event tonight AEST, where the company is expected to unveil its iPhone 13 line-up as well as new smartwatches, headphones and possibly more. Separately, Epic Games has filed an appeal to last Friday’s (13 September) ruling in its lawsuit against Apple, calling on a higher court to re-examine the case and overturn the judge’s ruling. Few details were provided about the legal basis for Epic’s appeal, but it is likely to continue to press on the federal antitrust allegations dismissed by the court. The small capitalisation Russell 2000 up +0.59%. In merger and acquisition (M&A) news, Intuit Inc (down -1.76%) announced that it will acquire email marketing company Mailchimp for US$12B in cash and stock.