Morgans AM: Friday, 17 December 2021

Morgans Financial Limited

US equity markets weaker as investors digested the latest monetary policy pronouncements from a number of major global central banks – Dow slipped -30-points or -0.08%, unwinding an earlier rally of over >200-points. Banks helped the Dow outperform on a relative basis, with Goldman Sachs Group Inc rising +1.91% and JPMorgan Chase & Co +1.56%. The broader S&P500 fell -0.87% after briefly trading above its 10 December record closing high (4,687.64) in early trading. Financials (up +1.21%) and Materials (+1.04%) rose over >1% to lead eight of the eleven primary sectors higher. Information Technology (down -2.86%) was the big underperformer. Delta Air Lines Inc declined -2.21% after the carrier set its financial goals for the coming years ahead of its scheduled Capital Markets Day. The Nasdaq tumbled -2.47%, the technology-centric indice’s the biggest one-day point and percentage loss since 28 September. Apple Inc fell -3.93%, Amazon.com Inc -2.56% and Microsoft Corp -2.91%. Major semiconductor stocks Advanced Micro Devices Inc and Nvidia Corp dropping -5.37% and -6.80%, respectively. The small capitalisation Russell 2000 shed -1.95.