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	Podcast:		Morgans Financial Limited
	Episode:		Morgans AM: Wednesday, 22 December 2021
	Category:		Business
	Duration:		00:04:59
	Publish Date:		2021-12-21 22:51:07
	Description:		US equity markets rebounded sharply, snapping a three session losing streak and erasing Monday’s (20 December) sell-off - Dow gained +561-points or +1.60% . Nike Inc rallied +6.15% after recording better-than-expected second quarter earnings per share (US$0.83c versus consensus analysts forecasts of US$0.63c) and revenue (US$11.36B versus consensus US$11.25B) after the closing bell of the previous session. The broader S&P500 gained +1.78%, having logged its worst three day stretch (down -3.04%) since September. Energy (up +2.89%), Information Technology (+2.60%), Consumer Discretionary (+2.50%) and Financials (+2.01%) all gained over >2% to lead nine of the eleven primary sectors higher. Utilities (down -0.17%) and Consumer Staples (-0.11%) were the only primary sectors to decline (having been the only sectors to advance a day earlier). Micron Technology Inc jumped +10.54% after the memory-chip maker’s fiscal first quarter adjusted earnings per share, revenue and outlook released after the close of Monday’s (20 December) session topped Wall Street estimates. Advanced Micro Devices Inc rose +6.22%. The Nasdaq +2.40%. The small capitalisation Russell 2000 rallied +2.92%, logging its best single session performance since 20 July.
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