Morgans AM: Thursday 7 February 2019

Morgans Financial Limited

US equity markets settled with modest losses as investors digested President Trump's delayed State of the Union address - Dow slipped -21-points or -0.08% The broader S&P500 eased -0.22%, with Communication Services (down -1.49%), Energy (-0.76%) and Real Estate (0.76%) leading eight of the eleven primary sectors into the red. The NASDAQ lost -0.37%. Snap Inc surged +22% after posting record quarterly revenue after the close of the previous session and narrowing its loss on the back of a boom in online advertising. US Treasury Secretary Steven Mnuchin said overnight that he and other US officials will travel to Beijing next week for trade talks aiming to clinch a deal to avert a 2 March increase in US tariffs on US$200B worth of Chinese goods. adding that talks with China have been “very productive ” so far - “We’re putting in an enormous amount of effort to hit this deadline and get a deal. That’s our objective.”