Morgans AM: Tuesday, 15 June 2021

Morgans Financial Limited

US equity markets advanced after a strong finish to the opening session of the week, with technology stocks outperforming - Dow down -86-points or -0.25%, paring an earlier -268-point/-0.78% decline. FedEx Corp in extended trading after its board approved a US$0.10c or +15% increase to the delivery and logistics company's dividend to US$0.75c per share.. The broader S&P500 edged +0.18% higher to 4,255.15, moving into positive territory in the final 15-minutes of the session and logging its 29th record closing high of the year. Information Technology rose +1.04% to lead six of the eleven primary sectors higher. Materials (down -1.28%) and Financials (-1.03%) both fell over >1% to be the worst performing primary sectors. Tesla Inc (up +1.28%) Chief Executive Officer (CEO) Elon Musk on Sunday (13 June) said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners. The Nasdaq gained +0.74% to 14,174.14, logging its first record closing high since 26 April. The small capitalisation Russell 2000 fell -0.41%. Novavax (NVAX) slipped -0.9% despite announcing that Phase 3 trial data showed its COVID-19 vaccine to be 90.4% effective against the disease overall, and 100% effective at preventing severe cases.