Morgans AM: Thursday, 1 April 2021

Morgans Financial Limited

US equity markets concluded the month an quarter on a mostly positive note, with gains for the technology sector lifting the S&P500 to a record high – Dow down 85-points or -0.26% . Goldman Sachs Group Inc (down -1.51%) announced plans to offer access to Bitcoin and other cryptocurrencies to wealthy investors. The broader S&P500 +0.36% to 3,972.89 and a record closing high, paring gains late in the session after also touching a fresh record intra-day high (3,994.41). Information Technology (up +1.50%) led five of the elven primary sectors higher. Energy (down -0.93%) and Financials (-0.90%) were the worst performing primary sectors. The technology-centric Nasdaq rose +1.54%. Apple Inc (+1.88%), Microsoft Corp (+1.69%) and Facebook Inc (+2.27%) all gained at least 1.6%. UBS raised their recommendation on Apple Inc to a ‘Buy’, citing stable long-term demand for iPhones with better authorised service providers. The small capitalisation Russell 2000 index rose +1.13%. US equity and bond markets will be CLOSED on Friday night AEST (3 April).