Morgans AM: Friday, 19 August 2022
AUG 18, 2022
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US equity markets eked out modest gains, turning positive in the final hour of the session as investors assessed mixed signals from several Federal Reserve officials on the potential pace of interest rate increases on deck for September - Dow inched +19-points or +0.06% higher. The broader S&P500 rose +0.23%, with Energy (up +2.53%) and Information Technology (+0.49%) leading seven of the eleven primary sectors higher. The Nasdaq added +0.21%. The small capitalisation Russell 2000 rose +0.68%. Bed Bath & Beyond Inc fell -19.63% (and dropped more than >44% in extended trading) after GameStop Corp Chairman Ryan Cohen disclosed in a filing after the close of the previous session that he’s planning to sell his big stake in the company just months after he bought it.
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