Morgans AM: Wednesday, 15 March 2023
MAR 14, 2023
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US equity markets climbed and bonds retreated as some semblance of calm returned in the wake of the collapse of Silicon Valley Bank (SVB) late last week, and as investors parsed the latest monthly inflation figures - Dow gained +336-points or +1.06%, snapping a five session losing streak. The broader S&P500 +1.68%, with Communication Services (up +2.75%), Information Technology (+2.29%) and Financials (+2.12%) all advancing over to >2% to lead all eleven primary sectors higher. The technology centric Nasdaq rallied +2.14%. The small capitalisation Russell 2000 rose +1.87%.
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