Morgans AM: Friday, 27 August 2021

Morgans Financial Limited

US equity markets retreated as investors weighed second quarter economic growth data and eyed Federal Reserve Chair Jerome Powell’s address at the Jackson Hole Economic Symposium on "the economic outlook" tonight AEST - Dow down -192-points or -0.54%. Cloud-based customer-relationship management company Salesforce.com Inc outperformed with a +2.66% gain following a strong second quarter result after the closing bell of the previous session. The broader S&P500 lost -0.58%, snapping a five session winning streak that saw the index log its 51st record closing high of the year in the previous session. Energy (down -1.51%) led ten of the eleven primary sectors lower. Real Estate (up +0.10%) was the only primary sector to advance. The Nasdaq -0.64%, also snapping five session winning streak and a day after the technology-centric index logged its 30th record closing high of 2021 The small capitalisation Russell 2000 fell -1.13%. Traders were also eying new developments in Afghanistan where a dozen US service members were tragically killed following a terrorist attack outside the Kabul airport. President Biden vowed to complete the evacuation of Americans and their allies from Afghanistan.