Morgans AM: Tuesday, 13 December 2022

Morgans Financial Limited

US equity markets rallied, clawing back some of last week’s steep losses as investors eye key inflation figures tonight AEST and a brace of key central bank meetings later in the week - Dow gained +529-points or +1.58%. Boeing Co rose +3.75% amid reports that Air India is close to signing an order with the planemaker to acquire up to 150 737 Max jets. The broader S&P500 rose +1.43%, with Energy (up +2.49%), Utilities (+2.27%) and Information Technology (+2.17%) all advancing over >2% to lead all eleven primary sectors higher. Tesla Inc (down -6.27% at US$167.82) settled at its lowest level since 20 November, 2020 and a fresh 52-week low. Investors remain concerned about Tesla’s production, particularly in China, even though the company has denied earlier reports that suggested production cuts in the world’s biggest auto market. The Nasdaq climbed +1.26%. The small capitalisation Russell 2000 gained +1.22%.