Morgans AM: Tuesday, 6 April 2021

Morgans Financial Limited

US equity markets resumed trading after the Easter long weekend, with the Dow and S&P500 sweeping to fresh record closing highs following a brace of positive economic data last Friday (2 April) – Dow rallied +374-points or +1.13% 33,527.19, surpassing its previous record close of 33,171.37 hit on 9 March. The broader S&P500 +1.44% to 4,077.91. Tesla Inc gained +4.43% following last Friday’s (2 April) release that recorded first quarter deliveries rose to a better-than-expected 184,800 vehicles, up from 181K deliveries in the fourth quarter of 2020 and versus consensus analyst forecasts for 162K. Norwegian Cruise Line Holdings jumped +7.18% after the company asked federal health authorities to let it sail from U.S. ports starting 4 July. The Nasdaq gained +1.67% to 13,705.59, logging its third straight gain of over >1.5%. Amazon.com Inc rallied +% toward a six week high. The technology-centric index needs to gain a further ~1.2% to 13,870.076 to officially exit correction territory. The small capitalisation Russell 2000 index added +0.49%.