Morgans AM: Thursday 14 March 2019

Morgans Financial Limited

US markets firmer, buoyed by some positive economic data - Dow up +148-points or +0.58%. Boeing Co (up +0.50%) ended a seven-day losing streak despite continued concerns about the safety of its cutting edge 737 Max 8 continued unabated and saw US and Australian regulators join other countries in grounding the aircraft. J.P. Morgan Chase closed 0.34% higher following a CNBC report that the investment bank was expanding into several new markets, including some that are dominated by Bank of America Corporation (+1.21%). The Information Technology sector (up +0.70%) was again a key driver and lifted the broader S&P500 for a third day, up+0.69% and back above >2,800 for the first time since 1 March to a fresh 2019 high (2,810.92, the highest close since 7 November last year). NASDAQ added +0.69%. The Wall Street Journal reported that President Trump said that he is not in a hurry to hammer out a trade deal with China and that Chinese President Xi Jinping knows that the US. can walk away from bilateral talks if an agreement isn’t reached.