Morgans AM: Tuesday, 31 August 2021

Morgans Financial Limited

The S&P 500 and the Nasdaq Composite booked fresh closing records to open the new trading week - Dow down -56-points or -0.16% . The broader S&P500 added +0.43% to 4,528.79, logging its 53rd record closing high this year after establishing a fresh intraday record high (4,537.36) earlier in the session. Before this year, only 1964 and 1995 saw more than 50 new highs before August was over. The record for new highs in one year is 77, set in 1995. Real Estate (up +1.15%) and Information Technology (+1.09%) rose over >1% to lead seven of the eleven primary sectors higher. Financials (down -1.47%) and Energy (-1.16%) both fell over >1%. The Nasdaq rose +0.90% to 15,265.89, recording its 32nd record closing high of 2021 after setting its intraday all-time high (15,288.08). Apple Inc gained +3.04%, Microsoft Corp +1.29% and Netflix Inc +1.30%. Paypal Inc rose +3.64% after CNBC reported that the company is exploring a stock-trading platform for its U.S. customers. The small capitalisation Russell 2000 lost -0.49%. The Pentagon confirmed that that US military had completed its withdrawal efforts from Afghanistan albeit the diplomatic mission to ensure additional U.S. citizens and eligible Afghans who want to leave continues.