Morgans AM: Monday, 28 March 2022

Morgans Financial Limited

US equity markets ended another positive week on a mixed note - Dow up +153-points or +0.44%, with Goldman Sachs Group Inc (up +1.26%) and JPMorgan Chase & Co (+1.23%) among the notable performers and Treasury yields continued to climb. The broader S&P500 added +0.51%. The Energy sector (up +2.28%) climbed over >2% to lead nine of he eleven primary sectors higher on Friday (25 March). Information Technology and Consumer Discretionary both dipped -0.09% to be the only primary sectors not to advance. Tesla Inc (down -0.32%) is planning to suspend production at its Shanghai factory for at least one day, Bloomberg News reported on Sunday (27 March), as China’s financial hub said it would go into a lockdown in two stages to conduct COVID-19 testing. The technology centric Nasdaq eased -0.16%. The small capitalisation Russell 2000 +0.12%. JD.com Inc fell -2.60% after the U.S. Public Company Accounting Oversight Board said it was premature to say it was close to an agreement with China on allowing audit inspections of U.S.-listed Chinese companies. Alibaba Group Holding slid -1.9% following an ~6% in Hong Kong.