Morgans AM: Monday, 13 December 2021

Morgans Financial Limited

US equity markets advanced to cap their strongest week since February - Dow up +216-points or +0.60% . The broader S&P500 gained +0.95% to log its 67th record closing high of 2021 at 4,712.02 and settle ~0.7% from its all time intra-day high. Information Technology (up +2.07%) and Consumer Staples (+2.00%) led all eleven primary sectors higher. Oracle Corp jumped +15.61% to record highs following impressive November quarter earnings after the close of the previous session that showed signs of progress in the company’s transition into a cloud-based software provider. However, Southwest Airlines Co fell 3.76% after Goldman Sachs downgraded the carrier, writing that medium-term inflation pressure is expected to “drive a slower-than-industry return to profitability.” The Nasdaq +0.73%. Apple Inc and Microsoft Corp gained +2.8% and +2.83%, respectively, to provide the biggest boost to the major indexes. The small capitalisation Russell 2000 eased -0.38%.