Morgans AM: Friday, 11 November 2022

Morgans Financial Limited

US equity markets soared, logging their single session gains since stocks were emerging from the depths of the pandemic bear market 2020 following a cooler-than-expected October inflation report - Dow soared +1,201.43-points or +3.70%, with Salesforce Inc (up +10.02%) and Apple Inc (+8.90%) combining for an ~171-point bump for the bluechip index. The broader S&P500 +5.54%, recording its biggest one-day rally since April 2020. Information Technology (up +8.33%), Real Estate (+7.74%) and Consumer Discretionary (+7.70%) all climbed over >7% to lead all eleven primary sectors solidly higher. The Nasdaq +7.35%. 54 S&P 500 index constituents settled with gains of 10%+. The small capitalisation Russell 2000 jumped +6.11%.