Morgans AM: Tuesday, 14 March 2023

US equity markets weaker as the collapse of SVB Financial Group ‘s Silicon Valley Bank (SVB) continued to reverberate, and with investors eyeing tonight’s AEST inflation figures - Dow fell -91-points or -0.28%, extending declines into a fifth straight session but paring an earlier decline of ~284-points. Boeing Co added +0.15%, with the Wall Street Journal reporting that the aircraft manufacturer is close to a deal under which two airlines in Saudi Arabia - Saudia, along with Riyadh Air - would buy nearly 80 wide-body 787 Dreamliners, with options for around 40 additional aircraft between the carriers. The broader S&P500 slipped -0.15%, with the Financials sector (down -3.85%) leading four of the eleven primary sectors lower. Energy (down -1.96%) and Materials (-1.09%) both fell over >1%. More defensive sectors sat atop the primary sector leaderboard, with Real Estate up +1.60%, Utilities +1.54% and Health Care +0.92%. The Nasdaq +0.45%. Apple Inc rose +1.33%. The small capitalisation Russell 2000 lost -0.49%.