Morgans is Australia's largest national full-service retail stockbroking and wealth management network with more than 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices across all states and territories in Australia.
US equity markets opened the new week on the back foot as investors digested President Trump's move to raise global tariffs and amid fresh concerns around artificial intelligence (AI) disruptions to various industries - Dow fell -822-points or -1.66%, booking its worst one-day decline since 20 January. International Business Machines (IBM) Corp slumped -13.15% and was the worst performer in the 30-stock index on concerns advances in Anthropic's AI technology could affect its business. Anthropic is slated to host an event tonight AEST to discuss the capabilities of its next generation AI assistant, Claude, and potentially announce new features. Microsoft Corp (down -3.21%) and Salesforce Inc (-3.78%) fell over >3%
U.S. equity markets advanced on Friday to cap a positive week after the Supreme Court struck down the sweeping tariffs implement implemented by the Trump administration last year.
US equity markets weaker after booking three straight sessions of gains, with oil prices climbing to six-month highs amid escalating tensions between the US and Iran - Dow fell -268-points or -0.54% Boeing Co (down -2.18%) and Sherwin-Williams Co (-2.23%) both fell over >2%.
US equity markets advanced as technology stocks found their footing and investors digested the minutes from the Federal Reserve's January monetary policy meeting - Dow rose +129-points or +0.26%, with Nvidia Corp rising +1.63% and moving back into positive territory year-to-date after Meta Platforms Inc (+0.61%) announced a new deal to buy millions of its chips as part of its data centre buildout. Meta CEO Mark Zuckerberg said in a statement that the expanded partnership continues his company's push “to deliver personal superintelligence to everyone in the world,” a vision he announced in July. Financial terms of the deal were not provided. Amazon.com Inc rose +1.81% despite Berkshire Hathaway reporting via a 13F filing that it had sold nearly all of its stake in the e-commerce giant. Analysts at Morgan Stanley regard Amazon as a “top pick” and both Amazon Web Services and the company's retail business are shaping up to be massive beneficiaries of the artificial intelligence (AI) wave Amgen Inc (+1.71%), Chevron Corp (+1.84%), Cisco Systems Inc (+1.73%), Salesforce Inc (+1.90%) and Walt Disney Co (+1.57%) all gained over >1.5%. 3M Co (down 2.06%) and Boeing Co (-2.09%) fell over >2%
US equity markets little changed after resuming trading following the President's Day long weekend and after booked their worst weekly declines of 206 to date last week - Dow rose +32-points or +0.07% Apple Inc (up +3.17%) was the leading performer in the 30 stock index and paced gains in the ‘Magnificent Seven' cohort of mega-capitalisation technology stocks a day after announced it will hold a product launch event on 4 March, with the newest iPhone, a low-cost MacBook, and a faster iPad expected to be among the products featured. American Express Co and Nike Inc rose over >2%. Walmart Inc (down -3.76%) was the worst performing Dow component overnight, with the retail giant slated to release its fourth quarter result on Thursday night AEST (19 February).
US equity and bond markets were CLOSED overnight for Presidents Day.
US equity markets settled little changed, losing steam in the final hour of Friday's (13 February) - Dow eased -49-points or +0.10% Visa Inc (down -3.12%), while ‘Magnificent Seven' mega-capitalisation technology stocks Apple Inc (-2.24%) and Nvidia Corp (-2.21%) fell over >2%. Nike Inc (+3.32%) and UnitedHealth Group Inc (+3.1%) climbed over >3%, Cisco Systems Inc (+2.47%) and Salesforce Inc (+2.31%) gained over >2%.
US equity markets declined sharply as investors continued to rotate out of technology stocks while mulling the latest economic data and corporate earnings releases - Dow -669-points or -1.34% Cisco Systems Inc tumbled -12.32%, booking its worst single session decline since 2022 and the worst performer in the 30-stock index following the release of the networking giant's fourth quarter result after the close of the previous session that recorded a decline gross margins as memory costs surged. Apple Inc (-5%, wiping ~US$202B off the company in market capitalisation terms) and Walt Disney Co (-5.31%) lost -5%+, while International Business Machines (IBM) Corp (-4.87%) and Goldman Sachs Group Inc (-4.24%) both fell over >4%. McDonalds Corp +2.74% Walmart Inc +3.78%
US equity markets retreated as investors digested stronger-than-expected jobs data and as software stocks came under fresh selling pressure - Dow eased -67-points or -0.13%, snapping a three-session losing streak. International Business Machines (IBM) Corp dropped -6.5%, while American Express Co (-2.53%) and Boeing Co (2.61%) fell over >2.5%. Caterpillar Inc (4.4%) and Verizon Communications Inc (3.33%) were the leading components in the 30-stock index, while Coca-Cola Co (+2.33%) rebounded a day after posting weaker-than-expected revenue for the fourth quarter
US equity markets retreated as investors digested weaker-than-expected retails sales figures and turned their attention to the potential threat artificial intelligence (AI) poses to the financial sector - Dow added +52-points or +0.10% to 50,188.14, booking its third consecutive record closing and intra-day high after climbing above the >50,000 level last Friday (6 February). Home Depot Inc (up +2.28%) and Walt Disney Co (+2.64%) both gained over >2%.
US equity markets advanced after posting a sharp rebound last Friday (6 February), with technology again leading the gains - Dow inched +20-points or +0.04% higher to a fresh record closing high of 50,135.87 a day after the 30-stock index has climbed above the 50,000 level for the first time. Microsoft Corp (up +3.05%) was the leading Dow component, while Caterpillar Inc (+2.19%), Cisco Systems Inc (2.31%) and Nvidia Corp (2.5%) all climbed over >2%. Merck & Co Inc fell -3.51%, while Travelers Companies Inc (down -2.88%), Nike Inc (-2.36%) and Amgen Inc (-2.21%) all fell over >2%.
US equity markets rebounded sharply as technology stocks rallied following a wave of selling in recent sessions - Dow jumped +1,207-points or +2.47% to a record closing high of 50,115.67, the first time the 30-stock index has climbed above the 50,000 mark. Nvidia Corp +7.87%, with Chief Executive Officer (CEO) Jensen Huang saying in a televised interview with CNBC that demand has been "going through the roof" as cloud heavyweights lead what he believes could become the “largest infrastructure buildout in human history.” Caterpillar Inc +7.07%. However, Amazon.com Inc fell -5.55% after the company forecast a more than 50% jump in capital expenditures this year as part of its fourth quarter result released after the close of the previous session, intensifying the AI-driven spending spree already underway among its "Magnificent Seven" mega-capitalisation peers.
US equity indices declined as a "risk-off" selloff spared few corners of the market and with losses acerating in the closing hour of trading - Dow -593-points or -1.20% Microsoft Corp (down -4.97% and now down over >27% from its 28 October peak) and Salesforce Inc (-4.75%) both fell over >4.5%, while investment banks Goldman Sach Group Inc (-2.51%) and JPMorgan Chase & Co (-2.24%) fell over >2%.
The Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points at its latest meeting, signalling the start of a more prolonged tightening cycle. While many economists believe the RBA will need only two more rate hikes, Michael Knox argues that this view does not account for structural inflation pressures already building within the Australian economy. His modelling and economic analysis suggest the real requirement is at least four rate hikes before inflation begins to ease.
US equity markets retreated as the sell-off in technology stocks intensified - Dow rose +260-points or +0.53%, with Amgen Inc jumping +8.15% to be the leading performer in the 30-stock index after the biopharmaceutical company reported a better-than-expected fourth result after the close of the previous session. Nike Inc (up +5.4%) and 3M Co (+5.21%) both climbed over >5%. ‘Magnificent Seven' mega-capitalisation technology names Nvidia Corp (down -3.41%) and Amazon.com Inc (-2.36%) were under pressure, along with technology peers Cisco Systems Inc (-2.35%) and International Business Machines (IBM) Corp (-1.79%
Technology stocks came under renewed selling pressure, dragging US equity markets lower - Dow fell -167-points or -0.34% to 49,240.99 after touching a record intra-day high of 49,653.13. Nvidia Corp fell -2.87%, with Chief Executive Officer (CEO) Jensen Huang saying in an interview with CNBC that the chipmaker's plan to invest in OpenAI remains “on track” after recent reports suggested brewing tension between the two sides. Mr Huang said that Nvidia would invest in OpenAI's next fundraising round, which he called the “largest private round ever raised in history.” OpenAI is engaging in fundraising discussions for a round that could raise as much as US$100B, according to a CNBC report last month. Retail giant Walmart Inc rose +2.94% and joined the club of stocks with a market capitalisation more than US$1 trillion. Only 11 other companies are larger, with Nvidia and Alphabet Inc (-1.22%) having market capitalisations greater than >US$4 trillion.
US equity markets opened February on a firmer footing despite fresh falls on metals markets and as investors continued to ponder President Trump's nomination for the next Chair of the Federal Reserve - Dow rose +515-points or +1.05%. Caterpillar Inc (+5.1%), Walmart Inc (+4.13%) and Apple Inc (4.06%) all rallied over >4%. Nvidia Corp dropped -2.89% after The Wall Street Journal (WSJ), citing people familiar with the matter, that the chipmaking giant's plans to pour US$100B into OpenAI had stalled, with company executives expressing doubt about the deal.
US equity markets retreated on Friday (30 January) as technology stocks remained under pressure, while precious metals markets saw some vicious volatility - Dow fell -179-points or -0.36% as a host of components in the 30-stock index posted quarterly results.
• US equity markets settled narrowly mixed as investors absorbed another busy corporate earnings calendar - Dow edged +56-points or +0.11% higher, with International Business Machines Corp (IBM) rising +5.13% to be the leading performer in the 30-stock index after posting stronger-than-expected fourth quarter EPS and revenue after the close of the previous session. Microsoft Corp tumbled -9.99% and recorded worst daily performance since March 2020 following the release of the company's fourth quarter result after the close of the previous session, with investors seemingly unnerved by record spending on artificial intelligence (AI) last quarter.
US equity markets settled narrowly mixed as investors eyed quarterly results from mega-capitalisation technology companies after the closing bell and the Federal Reserve's first interest rate decision of 2026 - Dow inched +12-points or +0.02% higher Nvidia Corp rose +1.59% and was the leading performer in the 30-stock index after The Wall Street Journal (WSJ) reported that China's government has given clearance to a few big technology companies in the country including ByteDance and Alibaba Group Holdings Ltd () to start placing orders for H200 AI chips. The initial approval would allow the companies to buy hundreds of thousands of chips worth ~US$10B, according to the WSJ. Nvidia did not respond to a request for comment in time for publication.
US equity markets advanced as investors digested a busy corporate earnings calendar and eyed tomorrow morning's AEST interest rate decision from the Federal Reserve - Dow lost -409-points or -0.83% despite ‘Magnificent Seven' mega-capitalisation technology names Amazon.com Inc (+2.63%) and Meta Platforms Inc (+2.19%) along with Cisco Systems Inc (+2.17%) rising over >2%.
US equity markets advanced as investors eyed a busy week of fourth quarter results and the Federal Reserve's first-interest rate decision of 2026 – Dow rose +314-points or +0.64%. Cisco Systems Inc (up +3.24%) was the leading component in the 30-stock index. Nvidia Corp eased -0.64% after investing US$2B in CoreWeave Inc (up +5.73%) stock, reflecting its "confidence in CoreWeave's business, team and growth strategy as a cloud platform built on NVIDIA infrastructure, “according to the world's most valuable public company. Nvidia climbed +1.53% last Friday (23 January) after CNBC reported that Chief Executive Officer (CEO) Jensen Huang is planning to visit China in the coming days.
US equity markets advanced, extending gains from the previous session amid easing geopolitical tensions - Dow rose +307-points or +0.63% 3M Co (up +3.05%) was the leading performer in the 30-stock index American Express Co (+2.34%) and Salesforce Inc (+2.94%) rose over >2%.
US equity markets rebounded a day after the benchmark indices recorded their worst single session decline since 10 October as President Trump addressed the World Economic Forum and clarified his position on Greenland and said he will not impose tariffs on Europe - Dow rallied +589-points or +1.21% Amgen Inc (up +3.81%) was the leading performer in the 30-stock index, whole Home Depot Inc (+2.54%), Nvidia Corp (+2.95%), Sherwin-Williams Co (+2.69%), UnitedHealth Group Inc (+2.75%) and Walt Disney Co (+2.58%) all climbed over >2.5%.
US equity markets resumed trading after the holiday long weekend with steep losses, with the benchmark indies booking their worst single session performance since October as investors were spooked by fresh tariff threats from President Trump against Europe amid a dispute over control of Greenland - Dow fell -871-points or +0.55% International Business Machines (IBM) Corp (down -4.68%) and Nvidia Corp (-4.38%) both dropped over >4%, while American Express Co (-3.45%), Apple Inc (-3.46%), Amazon.com Inc (-3.4%), JPMorgan Chase & Co (-3.11%), Salesforce Inc (-3.04%) and Sherwin-Williams Co (-3.04%) all fell over >3%.
US equity and bond markets were CLOSED overnight for Martin Luther King Day. In US corporate earnings, 3M Co, D.R. Horton Inc, Fastenal Co, Netflix Inc, United Airline Holdings Inc and US Bancorp post quarterly results tonight AEST. In US economic data, Pending Home Sales for December and Construction Spending for September/October are released tonight AEST.
US equity markets settled with modest losses on Friday (16 January) ahead of a holiday long weekend, with the benchmark indices hitting their session lows after President Trump delivered remarks in the White House in which the president said he'd rather have National Economic Council Director Kevin Hassett stay in his current role and that he might not be chosen to become the next Federal Reserve chair. Treasury yields climbed to a four-month high - Dow slipped -83-points or -0.17% Salesforce Inc (down -2.75%) and UnitedHealth Group Inc (-2.34%) fell over >2%.
US equity markets climbed after two sessions of declines, underpinned by a rebound for bank stocks following a tough start to the week and renewed momentum in the artificial intelligence (AI) trade following a strong fourth quarter result from Taiwan Semiconductor Manufacturing Co (TSMC) Ltd - Dow rose +293-points or +0.60% Boeing Co (up +2.11%) and Nvidia Corp (+2.13%) both gained over >2%. However, International Business Machines (IBM) Corp dropped -3.59% and Salesforce Inc -2.52%.
US equity markets retreated as investors digested the latest batch of bank earnings and wholesale inflation and retail sales data - Dow slipped -43-points or -0.09%, with Amazon.com Inc (down -2.45%) and Microsoft Corp (-2.4%) both falling ~2.5%. The six largest decliners in the 30-stock index were technology-related stocks. Nvidia Corp fell -1.39% after the Trump administration approved the exporting of its H200 AI chips to China but said the world's most valuable public company must meet new security requirements first. .JPMorgan Chase & Co fell -0.94% a day after America's largest investment bank released its fourth quarter result.
• Financial stocks weighed on US equity markets following warnings about potential changes to lending policy, with the Dow and S&P 500 pulling back from record highs as the fourth quarter earnings season got underway and investors digested the latest inflation data - Dow fell -398-points or -0.80% Salesforce Inc shed -7.07% and was the worst performer in the 30-stock index following an update to its virtual assistant Slackbot feature in Slack. Visa Inc fell -4.46%
US equity markets advanced, erasing earlier declines and lifting the Dow and S&P 500 to fresh record peaks as investors shrugged off news of a Department of Justice (DoJ) probe into Federal Reserve Chair Jerome Powell - Dow added +86-points or +0.17% to 49,590.20 . Walmart Inc (up +3.01%) was the leading component in the 30-stock index overnight following news that it would be joining the Nasdaq 100 index beginning 20 January, replacing AstraZeneca Plc (down -1.07%). The move comes about a month after Walmart left the New York Stock Exchange for the Nasdaq. The world's largest retailer also announced it would be partnering with Google's Gemini AI to help shoppers find and buy items, similar to a partnership made in October with OpenAI's ChatGPT.
US equity markets advanced on Friday (9 February), with both the Dow and S&P500 booking fresh record closing highs - Dow rose +238-points or +0.48% to book a record closing high of 49,504.07, with Home Depot Inc (up +4.19%) the leading performer in the 30-stock index, while Boeing Co (+3.14%) and Sherwin-Williams Co (+3.59%) gained over >3%.
• US equity markets advanced for a fourth consecutive session ahead of the annual 7-day "Santa Claus rally" period - Dow edged +80-points or +0.16% higher, with Nvidia Corp (+3.01%) comfortably the leading performer in the 30-stock index. McDonalds Corp (down -1.7%) and Walmart Inc (-1.51%) fell over >1.51%.
US equity markets advanced for a third consecutive session to open the holiday-shortened week - Dow rose +228-points or +0.47%, with Merck & Co (up +3.59%) the leading performer in the 30-stock index. Honeywell International fell -1.58% after the aerospace and industrial-automation company lowered its full-year earnings outlook and updated investors on its expectations surrounding the Flexjet lawsuit. Nike Inc -2.54%.
US equity markets booked a second consecutive session of solid gains on Friday (19 December) as the technology sector continued to regain its footing - Dow rose +183-points or +0.38% Nvidia Corp gained +3.93% to be the leading performer in the 30-stock index after Reuters, citing sources familiar with the matter, reported that the Trump administration is reviewing the prospect of the company selling its advanced artificial intelligence (AI) chips to China. Earlier this month, President Donald Trump said that he will allow Nvidia to ship its H200 AI chips to “approved customers” in the country. Nvidia and Alphabet Inc are the only two members of the so-called ‘Magnificent Seven' cohort of large capitalisation technology stocks to be outperforming the S&P500 in 2025. Nike Inc dropped -10.54% after the sports giant released its second quarter result after the close of the previous session and reported weaker revenue in Greater China.
In this episode, Michael Knox and Stephen Austin from the ABC unpack the economic challenges Australia faces in 2025. With electricity subsidies ending and energy supply constraints persisting, households are bracing for higher power bills and rising inflation. Here's what's on the horizon:
The Executive Focus Series 2025 – Episode 2
US equity markets were stronger overnight – Dow rose 0.14% driven by tech names Amazon up 2.4%, Nvidia up 1.8%, Microsoft up 1.65%, and Cisco 1.52%.
US equity markets retreated, with technology stocks again leading the weakness amid concerns around the level of investment spending on artificial intelligence (AI) and data centres - Dow fell -228-points or -0.47%, with Caterpillar Inc (down -4.59%) the worst performer in the 30-stock index. Nvidia Corp lost -3.81%.
US equity markets mostly weaker as investors digested the delayed November employment data - Dow fell -302-points or -0.62% to 48,114.26, logging a third straight session decline after booking a record closing high (48,704.01) last Thursday (11 December). Chevron Corp (-2.04%), Johnson & Johnson (-2.27%), Merck & Co (-1.98%) and United Health Group Inc (-2.02%) all falling ~2%.
Federal Reserve Interest Rate Outlook: What Investors Need to KnowThe Federal Reserve's latest projections reveal a surprisingly moderate outlook for inflation and interest rates. Despite tariff concerns earlier this year, the Fed expects inflation to remain subdued and rates to decline gradually. Here's what this means for markets and investors.
• US equity markets retreated top open the last full trading week of the year, with technology stocks under fresh pressure and with investors eyeing some key economic data later in the week - Dow dipped -41-points or +0.09% to 48,416.56, logging a record intra-day high (48,886.86) for a second straight session in opening trading. Salesforce Inc (down -2.92%) was the worst performer in the 30-stock index, while Amazon.com Inc (-1.61%) and 3M Co (-1.89%) fell over >1.5%.
The Executive Focus Series 2025 – Episode 1
US equity markets retreated as investors continued to exit technology stocks and move into value areas of the market - Dow lost -246-points or -0.51% to 48,458.05 after touching a record intra-day high (48,886.86) earlier in Friday's (12 December) session.
The Dow and S&P500 booked record closing highs a day after the Federal Reserve cut interest rates for a third consecutive time, with investors rotating out of technology stocks and into companies that can benefit from a growing U.S. economy - Dow rallied +646-points or +1.34% to 48,704.01. Visa Inc (up +6.11%) paced gains in the 30-stock index after analysts at Bank of America upgraded the payments giant and said investors have the chance to own part of "a great business on sale." Bank of America observed that "Tax refunds, lower interest rates and faster GDP [gross domestic product] growth are positives" for the payments industry generally,” adding "The bottom line is: If consumers have jobs, barring extenuating circumstances, they will continue to spend money and pay their bills." Walt Disney Co rose +2.42% after it announced a US$1B investment in ChatGPT maker OpenAI and will allow its copyrighted characters to be used in short-form AI video platform Sora. Chief Executive Officer (CEO) Bob Iger told CNBC in a televised interview following the announcement that the agreement is seen giving Disney “a way in” to AI and could help expand its reach with younger consumers. Coca-Cola Co dropped -1.57% after announcing CEO James Quincey will step down in March and be succeeded by operating chief Henrique Braun.
US equity markets rallied late in the session as investors digested the latest monetary policy pronouncements from the Federal Reserve - Dow rallied +497-points or +1.05%, with 26 of the 30 index components advancing. JPMorgan Chase & Co rebounded +3.19% after dropping -4.66% in the previous session after Marianne Lake, the investment bank's Chief Executive Officer (CEO) of Consumer & Community Banking, disclosed higher-than-expected expense projections of US$105B for next year (versus current consensus forecasts of US$101B) at the Goldman Sachs Group Inc (up +1.44%) U.S. Financial Services Conference and said that she "would characterize the environment as being a little bit more fragile." American Express Co (+3.2%), Caterpillar Inc (+3.53%) and Nike Inc (+3.88%) also all rose over >3%.
In this episode, Chris Titley chats with Leo Barry, Executive Director and Portfolio Manager at Fairview Equity Partners. Leo plays a key role in managing Fairview's Australian Small Companies Fund, which focuses on identifying high-quality growth opportunities within the small-cap sector. With extensive experience in portfolio management and a strong track record in equity markets, Leo shares insights into how Fairview approaches small-cap investing and the strategies shaping performance in 2025.
US equity markets mixed ahead of tomorrow morning's AEST interest rate decision from the Federal Reserve - Dow fell -179-points or -0.38%. JPMorgan Chase & Co dropped -4.66% and was the worst performer in the 30-stock index after Marianne Lake, the investment bank's Chief Executive Officer (CEO) of Consumer & Community Banking, disclosed higher-than-expected expense projections of US$105B for next year (versus current consensus forecasts of US$101B) at the Goldman Sachs Group Inc (up +1.14%) U.S. Financial Services Conference and said that she "would characterize the environment as being a little bit more fragile." Boeing Co (-2.86%) and Verizon Communications Inc (-2.81%) both fell over >2.5%. Nvidia Corp eased -0.31% after President Trump said the U.S. will allow the firm to ship its H200 chips to "approved customers" in China and other countries.
Morgans AM - Wednesday, 10 December 2025 by Morgans Financial
• US equity markets opened the week on a softer footing ahead of the Federal Reserve's latest interest rate decision on Thursday morning AEST (11 December) - Dow fell -216-points or -0.45%, with Nike Inc (down -3.52%) and Procter & Gamble Co (-3.56%) both falling ~3.5%. Boeing Co (up +2.17%) and Walt Disney Co (+2.21%) both climbed ~2.2%.
US equity markets advanced after a delayed, tame inflation report reinforced expectations that the Federal Reserve will cut interest rates at its final meeting of the year this week - Dow added +104-points or +0.22%, with Salesforce Inc (up +5.3%) the clear outperformer in the 30-stock index on Friday (5 December). Goldman Sachs Group Inc +2% Amgen Inc fell -3.02%
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