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Podcast: Morgans Financial Limited (Imports from Soundcloud)
Episode: Morgans AM: Friday, 17 March 2023
Description: US equity markets rallied as an agreement by a group of big banks to deposit US$30B with troubled lender First Republic Bank helped soothe fears of a rolling banking crisis - Dow gained +372-points or +1.2%, The broader S&P500 rose +1.80%, with Information Technology (up +2.82%) and Communication Services (+2.77%) rallying over >2.5% to lead nine of the eleven primary sectors higher. Consumer Staples (down -0.07%) and Real Estate (-0.06%) were the only primary sectors not to advance. Charles Schwab Corp fell -2.8% despite executives disclosing that they had bought nearly US$7M worth of the financial-services giant’s beaten-down stock. The Nasdaq co...