US equity markets settled little changed as investors digested a benign October inflation report - Dow added +47-points or +0.11%, unwinding an earlier rally of as much as +230-points. Amazon.com Inc (up +2.48%) and Chevron Corp (+2.21%) both gained over >2%. Boeing Co (down -3.58%) was the worst performer in the 30-stock index overnight.

US equity markets retreated, with the post Trump election rally fading ahead of inflation figures tonight AEST  - Dow fell 382-points or 0.86% to 43,911, having closed above >44,000 for the first time a day earlier. Amgen Inc slumped -7.14% to be the worst performer in the 30-stock index after investment bank Cantor Fitzgerald flagged possible safety issues with MariTide, the biotechnology firm's experimental anti-obesity drug. According to analysts, data from clinical trials increased concerns about bone mineral density loss among patients taking the weight-loss treatment. Honeywell International Inc rose +3.87% to a record high following news that activist investor Elliott Investment Management had taken a US$5B stake in the company. Nvidia Corp rose +2.10%

The benchmark US indices edged their way to fresh record highs, with the Dow and S&P 500 settling above 44,000 and 6,000 respectively for the first time ever - Dow gained +304-points or +0.69% to 44,293.13. Salesforce Inc (up +6.14%) was the leading performer in the 30-stock index, while Goldman Sachs Group Inc (+2.22%) and Honeywell International Inc (+2.62%) gained over >2%.The broader S&P500 edged +0.10% higher to 6,001.35, recording its fifth consecutive session gain and longest winning streak since mid-September. Consumer Discretionary (up +1.75%) and Financials (+1.41%) leading six of the eleven primary sectors higher. Information Technology (down -0.89%) sat at the foot of the primary sector leaderboard overnight. Bristol Myers Squibb Co rallied +10.55% after rival pharmaceutical company Abbvie Inc (down -12.58%) reported a disappointing Phase 2 trial result of an experimental schizophrenia drug purchased as part of an US$8.7B acquisition last year. In September, the U.S. Food and Drug Administration (FDA) approved Bristol Myers Squibb’s schizophrenia drug Cobenfy. Monolithic Power Systems Inc dropped -14.97% after analysts at Edgewater Research warned that Nvidia Corp (-1.60%) has cancelled orders with the power solutions company.

US equity markets extended their rally, lifting the benchmark indices to fresh record highs to cap their best week in a year following Donald Trump’ sweeping election victory and after the Federal Reserve cut its benchmark interest rate by -25 basis points - Dow rose +260-points or +0.59% to 43,988.99, briefly crossing 44,000 for the first earlier in the session. Salesforce Inc +3.59% was the leading performer in the 30-stock index on Friday (8 November).  Nvidia Corp (down -0.84%) became a member of the Dow on Friday (8 November), replacing beleaguered chipmaker Intel Corp (-0.11%). Paint maker Sherwin-Williams Co (up +0.70%) also joined the blue-chip index, supplanting chemical giant Dow Inc (-4.93%).

The post-election rally rolled on, lifting the S&P 500 and Nasdaq to fresh record highs for a second session in-a-row as investors also digested the latest rate cut and monetary policy pronouncements from the Federal Reserve. - Dow flat. Goldman Sachs Group Inc (down -2.32%) and JPMorgan Chase & Co (-4.32%) handed back some of the previous session’s double-digit gains.  The broader S&P500 +0.74% to 5,973.10, logging its 49th record closing high of 2024. Communication Services (up +1.92%), Information Technology (+1.83%), Consumer Discretionary (+1.37%) and Real Estate (+1.19%) all gained over >1% to lead eight of the eleven primary sectors higher.

Large capitalisation technology stocks led US equity markets higher as investors awaited the results U.S. presidential election - Dow rose +427-points or +1.02%. Intel Corp rose +3.55%, more than recouping the previous session’s -2.93% decline to be the leading performer in the 30-stock index. Goldman Sachs Group Inc rose +3.03%. Boeing Co lost -2.62% despite workers voting by 59% to end their strike and return to work, securing a 38% raise over the next four years and paving the way for the troubled manufacturer’s Washington factories to restart production.

US equity markets made a positive start to November as investors digested the latest results from large technology companies and labour market data that reinforced expectations that the Federal Reserve will continue cutting interest rates - Dow gained +289-points or +0.69%. Intel Corp (up +7.81%) and Amazon.com Inc (+6.19%) were the leading performers in the 30-stock index, with both companies posting quarterly results after the close of the previous session.  Boeing Co +3.54% after the aircraft manufacturer reached a tentative deal with International Association of Machinists (IAM) on a new contract, potentially ending a crippling seven-week strike. The new offer includes a 38% general wage increase over four years, higher than the previous offer of 35%, with union members expected to vote on the deal tonight AEST.

US equity markets firmer as investors eyed earnings from a number of large capitalisation technology companies and key economic data - Dow lost -155-points or -0.36%. Home Depot Inc (down -1.94%) and Coca-Cola Co (-1.66%) both fell over >1.5%.The broader S&P500 edged +0.16% higher to settle ~0.5% below its record all-time closing high. Communication Services (up +1.56%) and Information Technology (+1.12%) both climbed over >1% to be the only primary sectors to advance overnight. Utilities (down -2.13%) and Energy (-1.44%) sat at the foot of the primary sector leaderboard. Ford Motor Co dropped -% after the carmaker reported lower-than-expected third-quarter profits after the close of the previous session.

US equity markets mixed on Friday (25 October) to cap off a bumpy few days of trading as investors eye a huge week of economic data and earnings reports - Dow fell -260-points or -0.61%. McDonald’s Corp fell -2.97% and was the worst performer in the 30-stock index on Friday (25 October) and the stock has been under pressure in recent days following news that an E. coli outbreak in several states was tied to onions on the fast food chain's Quarter Pounder burgers.

US equity markets declined as bond yields continued to climb - Dow dropped -410-points or -0.96%, paring an earlier decline of as much as 632 points but still marking the 30-stock index’s largest one-day decline since 6 September. McDonald’s Corp fell -5.12% to be the worst performer in the 30-stock index after the Centers for Disease Control and Prevention (CDC) said they were investigating an E. coli outbreak. Amazon.com Inc (down 2.6%) and Apple Inc (-2.16%) both fell over >2%. Verizon Communications Inc rose 3.28% to be the leading Dow component overnight, recouping some of the previous session’s -5.3% decline in the wake of telecom giant’s third quarter result falling short of consensus expectations despite continuing to add wireless phone and internet subscribers

US equity markets settled narrowly mixed after a morning session rally for the semiconductor sector, spurred by solid quarterly results from the world's largest contract chipmaker, lost some steam - Dow rose +161-points or +0.37% to 43,239.05 to book its 39th record closing high of the year. American Express Co (up +1.46%) and Chevron Corp (+1.66%) were the leading performers in the 30-stock index.The broader S&P500 dipped -0.02%, with Utilities (down -0.93%) leading six of the eleven primary sectors lower. Energy (up +0.4%) sat atop the primary sector leaderboard. Expedia Group Inc gained +4.75% after the Financial Times reported Uber Technologies Inc (down -2.44%) was considering a bid to buy the online travel company.

US equity markets settled with modest declines in the wake of slightly stickier inflation data for September - Dow slipped -58-points or -0.14%. Boeing Co fell -1.84% to be the worst performer in the 30-stock index. International Business Machines (IBM) Inc (-0.55%) touched a record all-time high (US$235.83) earlier in the session. Amazon.com Inc rose +0.80% after the on-line retailing giant said that sales and number of items sold during Prime Big Deal Days on Tuesday (8 October) and Wednesday (9 October) were the most ever for one of its October events. Doug Herrington, Chief Executive Officer (CEO) of Worldwide Amazon Stores, said it “marked a strong start to the holiday shopping season.” Amazon was in trying to get a jump on the key sales period heading into Christmas. Target Corp’s (up +1.06%) second Target Circle Week of the year kicked off on Sunday (6 October) and runs through Saturday (12 October). Dow component Walmart Inc’s (down -0.98%) Holiday Deals event runs until Sunday (13 October).

US equity markets retreated, handing back the previous session’s post jobs report surge as expectations for big interest rate cuts subsided and oil prices continued rising on concerns about Middle East tensions - Dow shed 399-points or -0.94%. Travelers Companies Inc (down -4.34%) was the worst performer in the 30-stock index. Amazon.com Inc (down -3.06%) and Walt Disney Co (-2.9%) . Apple Inc fell -2.25% after Jefferies downgraded the company to “hold” from “buy”, saying expectations for sales of the iPhone 16 and 17 are too high.

US equity markets settled little changed on the second trading day of the fourth quarter, with investors in a generally cautious mood against the backdrop of rising tensions in the Middle East and a strike at U.S. East Coast and Gulf ports - Dow added +40-points or +0.09%, advancing for the eight time in the past ten sessions.

US equity markets mixed on Friday (27 September) albeit tamer inflation figures lifted the Dow to a fresh record peak and buoyed small capitalisation stocks - Dow added +138-points or +0.33% to 42,313, booking its 32nd record close of 2024. Chevron Corp +2.46%.

US equity markets advanced ahead of tonight’s AEST key inflation figures, buoyed by fresh China stimulus measures and a strong gains for chipmakers - Dow gained +260-points or +0.62% to 42,175.11, logging its second highest close ever. Caterpillar Inc (up +3.36%) and Dow Inc (+3.56%) rose over >3%.

The S&P 500 and Dow logged record closing highs, building on last week's Federal Reserve rate cut-induced momentum and after data showed steady business activity in September - Dow added +61-points or +0.15% to 42,124.65, logging a record closing high for a third consecutive session. Intel Corp gained +3.30% to be the leading performer in the 30-stock index after Bloomberg reported on Sunday (22 September) that Apollo Global Management has offered to invest as much as US$5B in the struggling chipmaker. Intel got a boost last week from a company update on its transformation plans as well as a Wall Street Journal report Friday (20 September) that Qualcomm Inc (down -1.75%) had made a "takeover approach". Boeing Co (+1.96%) has made its “best and final” offer to striking workers, offering a 30% raise as it tries to end a work stoppage that threatens its recovery. The 33,000 members of the International Association of Machinists and Aerospace Workers District 751 walked off the job 11 days ago after rejecting a contract negotiated by the union’s leadership.

US equity markets ended a strong week on a mixed note, with trading relatively subdued despite Friday’s (20 September) session being a “triple witching” event - the simultaneous expiration of stock options, stock index futures, and stock index options contracts that saw option contracts tied to more than >US$5 trillion in tradeable stocks expire - Dow edged +38-points or +0.09% higher to a fresh record closing high of 42,062.81. Nike Inc rallied +6.84% to be the leading Dow component on Friday (20 September) after announcing after the close of the previous session that chief executive John Donahoe will retire next month and will be succeeded by company veteran Elliott Hill, an abrupt leadership change punctuating a period of dour economic performance at the world’s largest sportswear maker. Initial sales data for Apple Inc’s (down -0.29%) iPhone 16 will be released tonight AEST after the new device went on sale for the first time last Friday (20 September). The technology giant's AI model, Apple Intelligence, won't be available immediately but will come later as a free software update.

US equity markets failed to hold initial gains that came after the Federal Reserve delivered -50 basis point interest rate cut and that had lifted both the S&P 500 and Dow to fresh record intra-day highs - Dow fell -103-points or -0.25%, having rallied ~376-points immediately following the Fed’s rate announcement and lifting the 30-stock index to a record intra-day peak just shy of 41,982. Intel Corp fell -3.26% to be the worst performing Dow component, having rallied over >10% in the preceding three sessions.

US equity markets mixed ahead of the latest interest rate decision and monetary policy pronouncements from the Federal Reserve tomorrow morning AEST  - Dow dipped -16-points or 0.04% to 41,606.18, snapping a four session winning streak after hitting a fresh record intra-day high (41,835.28) earlier in the session. Intel Corp rallied +2.68% to be the leading Dow component for a second session running after Chief Executive Officer (CEO) Pat Gelsinger provided an update on the company's restructuring efforts, citing progress on cost-cutting and unveiling plans to turn its chipmaking arm into a separate subsidiary. The company also said it would produce chips for Amazon.com Inc’s (+1.08%) Amazon Web Services and the U.S. military.  Microsoft Corp rose +0.88% after the company announced a US$60B stock buyback programme and boosted its dividend (to US$0.83c per share, up from US$0.73c previously) after the close of the previous session. Separately, BlackRock is preparing to launch a more than >US$30B artificial intelligence (AI) investment fund (via its infrastructure investment unit, Global Infrastructure Partners) with Microsoft to build data centres and energy projects to meet growing demands stemming from AI. 

US equity markets mostly firmer in cautious trade of key central bank meetings later this week - Dow rose +228-points or +0.55% to 41,622.08, logging its 27th record close of the year-to-date. Intel Corp rallied +6.36% to be the leading Dow component after confirming press reports late last Friday (13 September) that it has been granted up to US$3B in Chips Act funding to “expand the trusted manufacturing of leading-edge semiconductors for the U.S. government.” Specifically, this award covers defence work. This deal is separate from the ~US$20B in funding that Intel announced earlier this year that it was eligible for through the Chips Act. Apple Inc fell -2.78% amid concerns about early sales for the just-launched iPhone 16. Analysing delivery lead times and whether models of the iPhone 16 will be available in stores on Friday (20 September) as scheduled, several analysts said that early indications appear disappointing for Apple's latest smartphone. Separately, the tech giant also received FDA approval for the sleep apnoea detection feature in its newest smartwatch operating system. Meanwhile, Amazon.com Inc (-0.86%) told employees to return to in-person work five days a week next year, barring any ”extenuating circumstances” or exceptions.

US equity markets extended their recovery from an early September sell-off on Friday (13 September), with the S&P 500 and Nasdaq recording their best weekly gains of 2024 - Dow rallied +297-points or +0.72%. Boeing Co shed 3.69% to be the worst performer in the 30-stock index after the aerospace company’s biggest union, the International Association of Machinists and Aerospace Workers representing ~33K workers, went on strike after voting down a new, four-year labour deal. The strike will halt work on the company’s best-selling 737, 777, and 767 jets.

The S&P 500 and Nasdaq extended gains into a fourth straight session after the latest wholesale inflation figures helped reinforce expectations for an interest rate cut when the Federal Reserve convenes its latest monetary policy meeting next week (17-18 September) - Dow rose +235-points or +0.58%.

US equity markets recovered from earlier losses to advance and settle near their session highs as investors weighed the implications of the latest CPI data and the presidential debate  - Dow rose +125-points or +0.31%, with American Express Co (up +3.57%) and Intel Corp (+3.48%) both rallying over >3%.

US equity markets mixed ahead of the first presidential debate later this morning AEST and inflation figures tonight AEST - Dow eased -93-points or -0.23%. JPMorgan Chase & Co shed -5.19% to be the biggest decliner in the 30-stock index after president Daniel Pinto, speaking at a Barclays financial services conference in New York, tempered full-year net interest income (NII) expectations for the largest US bank by assets. The current forecast of US$91.5B in 2024 was, he said, “not very reasonable” in light of the Federal Reserve’s impending interest rate cuts. Goldman Sachs Group Inc fell -4.39% after chief executive David Solomon warned investors at the same conference a day earlier that the investment bank’s trading business was on track to see revenues fall about 10% in the third quarter due to a “more challenging macro environment, particularly in the month of August”. Boeing Co lost -1.74%, with Reuters reporting that the aircraft manufacturer had informed its suppliers that it now expects MAX production to reach 42 planes per month in March 2025, compared with its prior estimate of September 2024.  Apple Inc, which unveiled its new artificial intelligence (AI)-enabled iPhone on Monday (9 September), lost -0.36% after the Court of Justice of the European Union (EU) overturned a lower court ruling on Irish tax breaks for the tech giant.

US equity markets rebounded from their biggest weekly losses of the year last week, with investors eyeing key inflation figures in the coming days - Dow rallied +484-points or +1.20%, more than recouping last Friday’s (6 September) -410-point or -1.01% fall.  Boeing Co gained +3.36% after the aircraft manufacturer and its biggest union (the International Association of Machinists and Aerospace Workers) reached a tentative deal covering more than 32,000 workers, averting a possible strike. Apple Inc inched +0.04% higher following its product launch event called “It’s Glowtime” that saw the unveiling of the iPhone 16, Apple Watch Series 10 and AirPods 4. Chief executive Tim Cook said the iPhone 16 - which will go on sale on 20 September with pre-orders starting this Friday (13 September) - was the first of its smartphones to be “designed from the ground up” for artificial intelligence “and its breakthrough capabilities”. Goldman Sachs Group Inc fell ~1% in extended trading (after rising +1.87% in the regular session) after chief executive David Solomon warned investors that the investment bank’s trading business was on track to see revenues fall about 10% in the third quarter. “With respect to trading . . . we had an extremely strong third quarter in 2023,” Mr Solomon said at an industry conference organised by Barclays. “This quarter, given what I’d say is a more challenging macro environment, particularly in the month of August, that business is trending down close to 10 per cent, largely due to FICC [fixed income, currencies and commodities trading],” Mr Solomon said. Mr Solomon also flagged that Goldman’s earnings in the third quarter would also take a US$400M hit from its continued pullback from consumer trading.

US equity markets retreated sharply on Friday (6 September) as the latest employment report underscored labour market weakness and spurred further debate about how aggressive the Federal Reserve will be when it starts cutting interest rates - Dow lost -410-points or -1.01%, with Amazon.com Inc (down -3.65%) and American Express Co (-3.09%) both falling over >3%. Intel Corp fell -2.63%, with Reuters reporting that Qualcomm Inc (-3.37%) is looking at buying segments of the company, potentially including its PC chip design business. Separately, Bloomberg reported that Intel is considering selling off some of its stake in MobilEye Global (-8.48%), which provides hardware and software for self-driving vehicles, as part of the chipmaker's effort to improve its financial position. Apple Inc (down -0.7%) hosts its product launch event called “It’s Glowtime” tonight AEST and is expected to announce its new iPhone 16 lineup alongside new Apple Watch models, and potentially other products. Boeing Co (-2.79%) and its largest union said Sunday (8 September) they reached agreement on a new contract that, if ratified, will avoid a strike that threatened to shut down aircraft production by the end of the coming week.

US equity markets ended mostly to the downside overnight as the S&P 500’s September struggles continued following weak labour market data - Dow was the outlier rising -38-points or +0.09%. Intel Corp (down -3.33%) was amongst the worst performers in the 30-stock index, amid a broader selloff of chip stocks as well as Reuters reporting that recent tests of the chip giant's most advanced manufacturing process conducted by Broadcom (AVGO) failed.

US equity markets resumed trading after the Labor Day long weekend and settled sharply lower to kick-off what is a historically tough month for equities, with investors assessing some weak manufacturing data while eyeing Friday’s (6 September) key non-farm payrolls figure  - Dow shed -626-points or -1.51%. Intel Corp (down -8.8%) was the worst performer in the 30-stock index. The chipmaker is the worst performing Dow component calendar year-to-date (down -60%) and is in danger of losing its status as a member of the Dow Jones Industrial Average (DJIA). Intel is the lowest-weighted component of the index, making up just 0.3% of the DJIA as of last week. Boeing Co lost -7.32%, with Wells Fargo downgrading the planemaker to "underweight" from "equal weight" and cutting its target price to US$119 from US$185. The analyst pointed to Boeing's "extensive delays and added cost" impacting aircraft production cash flow .

US equity markets advanced on Friday (30 August) to cap one of the most volatile months of trading in years - Dow rose +228-points or +0.55% to 41,563.08 to log its fourth record closing high of the week. Intel Corp rallied +9.49% following a Bloomberg report that the chipmaker is considering the spin-off or sale of its foundry business. Goldman Sachs Group Inc rose +0.62%, with the Wall Street Journal reporting that the investment bank is cutting as many as 1,800 of its employees as part of a planned 3% to 4% staff reduction following the bank’s annual performance-review process.

US equity markets mixed, with both the S&P 500 and Nasdaq losing ground late in the session and selling in Nvidia Corp intensified - Dow gained +244-points or +0.59% to 41,335.05, logging its third record closing high in the past four sessions. Apple Inc rose +1.46% with after Citigroup nominating the iPhone maker its top artificial intelligence (AI) pick. Meanwhile, Nikkei reported that Apple is telling suppliers to prepare components and parts for some 88M to 90M smartphones, according to multiple sources familiar with the plan. That is more than last year's initial component orders for around 80M new iPhones. Apple is preparing for sales of its first iPhone with Apple Intelligence, which includes generative AI features. The company has announced it will host its flagship product launch event on 9 September.  Salesforce Inc fell -0.73%, giving back earlier gains after the enterprise software company reported results after the close of the previous session that exceeded expectations on both the top and bottom lines.

US equity markets retreated ahead of the much anticipated release of chip giant Nvidia Corp’s second quarter result after the close, and with a batch of US retailers cutting outlooks amid a challenging consumer environment - Dow fell -159-points or -0.39%, paring an earlier decline of more than >400-points. Nike Inc (down -2.93%) was the worst performer in the 30-stock index.

US equity markets settled little changed as investors eye Nvidia Corp’s (up +1.46%) second quarter result tonight AEST - Dow inched+10-points or +0.02% higher to a fresh record closing high of 41,250.50.The broader S&P500 added +0.16%, with Information Technology (up +0.63%) leading six of the eleven primary sectors higher.  Eli Lilly & Co rose +0.42% after the pharmaceuticals giant announced it would launch single-dose vials of Zepbound, one of the company's popular weight-loss drugs.  Warren Buffett’s investment vehicle Berkshire Hathaway is on the cusp of becoming just the ninth company in the world to achieve a US$1 trillion valuation. The conglomerate’s total market capitalisation stood at nearly US$993B as of last night’s close, with Berkshire Class A shares up +1.34% (at US$691,350) and Class B stock +1.35% (at US$460.63). Berkshire Hathaway has seen its total market cap increase by ~US$218B since the start of 2024, according to Dow Jones data. ResMed Inc rallied +7.26% on large volume (~1.9M shares versus a daily average of 1.08M), buoyed by a bullish research note from US independent investment bank and financial services company William Blair & Company that cited a “tidal wave” of new sleep apnoea and continuous positive airway pressure (CPAP) patients coming from weight loss drugs beginning in 2025.  Paramount Global dropped -7.15% following news that Edgar Bronfman Jr. has withdrawn from bidding for Shari Redstone's media empire, setting the stage for the entertainment giant to be sold to David Ellison's Skydance Media.

US equity markets eased in a quiet session following last Friday’s (23 August) strong gains, with investors eyeing chip giant Nvidia Corp’s (down -2.25%) second quarter result on Wednesday night AEST (28 August) and inflation figures at the back end of the week - Dow added +65-points or +0.16% to 41,240.52, notching its 23rd record close of 2024. Apple Inc (up +0.15%) is likely to unveil its newest phones and the next generations of the Apple Watch and AirPods at an event on 9 September reportedly called “It’s Glowtime”. The iPhone maker is expected to officially announce the long-anticipated iPhone 16, supercharged with artificial intelligence (AI) capabilities. Intel Corp fell -2% following a report from CNBC that said the chip maker has hired advisors, including some with Morgan Stanley (up +0.43%), to help defend the company against potential shareholder activism.

US equity markets rallied on Friday (23 August) after Federal Reserve Chair Jerome Powell said “the time has come” for monetary easing - Dow rose +462-points or +1.14% to 41,175.08, closing within 0.1% of a fresh record close.The broader S&P500 gained +1.15% to 5,634.61, settling just 0.6% below its all-time closing high recorded in mid-July. Construction materials supplier Builders FirstSource Inc rallied +8.75% to be the leading performer in the S&P 500

US equity markets retreated as central bankers will gather in Jackson Hole, Wyoming for the Federal Reserve’s annual Monetary Policy Symposium, with the S&P 500 and Nasdaq logging their worst daily decline since 5 August - Dow fell -178-points or -0.43%. Intel Corp slumped -6.12% to be worst performer in the 30-stock index overnight following reports that the semiconductor giant's progress on constructing two new chip fabrication facilities in Germany may be stalled. Intel expected the Magdeburg plants to be online and producing high-performance semiconductors as soon as 2027. However, according to media reports this week, the schedule now appears uncertain. Amazon.com Inc (-2.21%) and Microsoft Corp (-2.03%) both fell over >2%.

US equity markets logged modest gains as investors digested earnings reports from various retailers, the minutes from the Federal Reserve’s late July monetary policy meeting and a sharp downward revision to annual payrolls data - Dow edged +56-points or +0.14% higher, with Intel Corp (up +2.0%) the leading performer in the 30-stock index. American Express Co fell -2.68% to US$246.30 after Bank of America Securities downgraded the payments giant to ‘Neutral’ from ‘Buy’ with a US$263 price target, with the analysts pointing to the stock’s current premium valuation and the potential for subdued growth in billings volume.

US equity markets logged modest declines, with the S&P 500 and Nasdaq snapping eight session winning streaks - Dow slipped -62-points or -0.15%, snapping a five session winning streak. Boeing Co shed -4.2% after the aerospace company said it would be grounding its four-plane test fleet of the 777x after finding cracks in the jet’s structure. Intel Corp lost -2.46%, unwinding much of the previous session’s +3.11% gain.

US equity markets advanced on Friday (16 August) to cap their best week of 2024 to date, with the S&P 500 and Nasdaq - Dow added +97-points or +0.24%, rising for a sixth time in seven sessions.The broader S&P500 rose +0.20%, with Financials (up +0.62%) leading eight of the eleven primary sectors higher. Ulta Beauty Inc rose +3.12% and extended gains after regulatory filing late last week revealed Warren Buffett's investment vehicle Berkshire Hathaway Inc had acquired an ~US$266M stake in the cosmetics retailer. Amcor Plc lost -3.69% to be the worst performer in the S&P 500 after the packaging giant missed revenue estimates and provided weak guidance after the close of the previous session as volumes for healthcare and North American beverage companies remained soft.The Nasdaq edged +0.21% higher.

US equity markets rallied following the release of a fresh batch of economic data that eased concerns about the health of the economy and some further robust corporate earnings releases - Dow gained +555-points or +1.39%, rising for the fifth time in six sessions. Cisco Systems Inc jumped +6.8% to be the leading performer in the 30-stock index after the software and networking company posted better-than-expected adjusted earnings per share (EPS) and revenue for its fiscal fourth quarter and outlined a restructuring plan that will see its worldwide workforce shrink by ~7% after the closing bell of the previous session. Intel Corp rose +3.87% despite the Financial Times (FT) reporting that talks with Japan’s Softbank Group Corp (+2.16%) to manufacture chips rivalling those made by Nvidia Corp (+4.05%) fell apart in recent months. SoftBank blamed Intel for the collapse of the talks due to its inability to meet demands for volume and speed, and has now held talks with Taiwan Semiconductor Manufacturing Co (down -0.53%), according to the FT. Boeing Co rose +4.69% after El Al Israel Airlines confirmed a US$2.5B deal to buy up to 31 of the aerospace giant's 737 Max planes. Nike Inc gained +5.07% after Bill Ackman’s Pershing Square Capital Management disclosed a new stake in the company. A U.S. Securities and Exchange Commission (SEC) filing recorded that the hedge fund investor bought just over 3M shares in the athletic apparel major.The broader S&P500 rallied +1.61% to 5,543.22 and now sits +0.34% higher for August after booking its worst start to a month in eight years. The index also settled ~2.1% below its record closing high of 5,667.2 recorded on 16 July. Consumer Discretionary climbed +3.38% to lead nine of the eleven primary sectors higher following stronger-than-expected retail sales figures for July and strong earnings from sector bellwether Walmart. Ulta Beauty Inc soared +11.17%, with a regulatory filing from Warren Buffett's investment vehicle Berkshire Hathaway Inc (up +0.61%) recording that the firm had acquired an ~US$266M stake in the cosmetics retailer. Lithium producer Albemarle Inc rebounded +8.63% after being the worst performer in the broader index on both Monday (August) and Wednesday (August) of this week. Paramount Global jumped +7.14% following multiple reports that media executive Edgar Bronfman Jr. is set to make a bid for the entertainment giant. Last month, Paramount agreed to the terms of a merger with production company Skydance Media after prolonged talks.

US equity markets advanced after the annual rate of headline consumer inflation fell below 3% for the first time since March 2021  - Dow gained +243-points or +0.61%, with American Express Co (up +2.0%) the leading performer in the 30-stock index.The broader S&P500 added +0.38%, extending gains into a fifth straight session that has lifted the index +4.83%. Financials (up +1.29%) led eight of the eleven primary sectors higher.The Nasdaq inched +0.03% higher, shaking of earlier session declines to log a fifth straight session advance that has lifted the technology-centric index +6.05% over that stretch. Google-parent company Alphabet Inc fell -2.31% following news after the close of the previous session that the U.S. Department of Justice was weighing an effort to break up the technology behemoth.

US equity markets rallied strongly following tamer-than-expected wholesale inflation data, with the S&P 500 and Nasdaq booking their biggest four-day percentage gains of 2024 - Dow gained +409-points or +1.04%. Intel Corp jumped +5.73% to be the leading performer in the 30-stock index. A filing showed the company had divested its stake (~1.8M shares) in chip designer Arm Holdings Plc (+5.69%). Nike Inc rallied +5.17% to US$78.50, with analysts at Bernstein Research reiterating their "buy" rating for the stock along with a US$112 price target.The broader S&P500 rallied +1.68%, taking its 4-day gain to +4.45%. The broader index now sits ~4.1% below its record closing high set on 16 July. Information Technology (up +3.00%) and Consumer Discretionary (+2.42%) to lead ten of the elven primary sectors higher. Energy (down -1.02%) was the only sector to settle in the red. Starbucks Corp soared +24.50% after ousting Chief Executive Officer (CEO) Laxman Narasimhan and announcing the current CEO of Chipotle Mexican Grill Inc (down -7.50%) Brian Niccol as his replacement. Mr Niccol will start in the role on 9 September, with Starbucks Chief Financial Officer (CFO) Rachel Ruggeri set to take the interim CEO title for the next month. The announcement follows recent pressure from activist investor including Elliott Investment Management.

A mixed and muted session for US equity markets as investors eye inflation and retail sales figures later in the week - Dow fell -141-points or -0.36%, with Boeing Co (down -2.25%) and Procter & Gamble Co (-2.19%) both down over >2%.The broader S&P500 settled flat . Real Estate (down -0.64%) and Communication Services (-0.62%) both fell over >0.6% to lead eight of the eleven primary sectors lower. Information Technology (up +0.92%) and Energy (+0.49%) sat atop the primary sector leaderboard overnight. KeyCorp jumped +9.1% to be the leading performer in the S&P 500 following news that Bank of Nova Scotia (down -3.42%) acquired a 14.9% stake in the bank for US$2.8B. Starbucks Corp rose +2.58% after The Wall Street Journal (WSJ) reported that hedge fund Starboard Value has taken a stake in the world's biggest coffee chain and was calling for changes. The WSJ noted that the move came as Starbucks is in settlement discussions with activist investor Elliott Investment Management, which it previously reported had taken a large stake in the company and also called for changes. Albemarle Corp shed -6.92% to be the worst-performing stock in the S&P 500 as the world's biggest lithium producer continues to feel the negative effects of slumping lithium prices (which have slumped more than >80% since the start of 2023).

US equity markets logged modest gains on Friday (9 August) and continued to mount a comeback that saw the S&P 500 and Nasdaq all but erase Monday’s (5 August) rout that saw both indices register their sharpest daily losses since 13 September 2022 - Dow edged +51-points or +0.13% higher, with American Express Co (up +1.85%), Apple Inc (+1.37%) and Salesforce Inc (+1.37%) all rising over >1%. Intel Corp shed -3.81% to be the worst performer in the Dow last Friday (9 August).

US equity markets rallied sharply amid a broad-based rally that saw the S&P 500 and Nasdaq record their strongest session since 30 November, 2022 after the latest weekly jobless claims figures soothed nerves in some quarters around the strength of the labour market - Dow gained +683-points or +1.76%, logging its strongest session since 16 July.The broader S&P500 rallied +2.3%. Information Technology rallied +3.31% to lead all eleven primary sectors higher, six of which logged gains of more than >2%. Palantir Technologies jumped +11.25 after the company announced an agreement with Microsoft Corp (+1.07%) to provide the U.S. government with secure cloud, artificial intelligence (AI), and analytics capabilities for national security. The agreement provides the U.S. government agencies including the Central Intelligence Agency (CIA) with large language models (LLMs) through Azure OpenAI Services, Microsoft's cloud offerings through its partnership with OpenAI, and Palantir's AI Platform (AIP). Warner Bros. Discovery Inc shed -8.95% after the entertainment giant posted a loss of nearly -US$10B for the second quarter after the close of the previous session.

US equity markets retreated, relinquishing earlier session gains and capping the worst 5-day start to a month for the Dow and S&P 500 since January 2016 - Dow fell -234-points or -0.60%,. Intel Corp fell -4.24% following a fresh broker downgrade (with analysts at Mizuho Securities cutting their recommendation to ‘Neutral’ from ‘Outperform’ and writing of “a tough road ahead to regain leadership”), extending the semiconductor company’s 5-day slide to -43.6%.The broader S&P500 lost -0.77%, with Consumer Discretionary (-1.39%), Materials (-1.39%), Information Technology (-1.36%) and Health Care (-1.07%) all declining over >1% to lead seven of the eleven primary sectors lower. Super Micro Computer Inc tumbled -20.14% after the artificial intelligence (AI) server company – and a customer and close partner of Nvidia Corp (-5.12%) – reported its fiscal fourth-quarter result after the close of the previous session as the cost of transitioning to more expensive AI chips weighed on the bottom line.

US equity markets rebounded amid a broad-based recovery a day after the Dow and S&P 500 registered their sharpest daily losses since 13 September 2022 - Dow rose +294-points or +0.76%, clawing back some of the previous session’s -1,033.99-points or -2.6% tumble.The broader S&P500 +1.04%, with Real Estate (up +2.3%) leading all eleven primary sectors higher.  Palantir Technologies Inc jumped +10.38% after reporting a better-than-expected second quarter result and lifted its full-year guidance on strong demand for its Artificial Intelligence Platform (AIP) after the close of the previous session. Royal Caribbean Cruises Ltd rallied +7.51% after JPMorgan analysts labelled the company  “best in class” among the cruise lines and raised their full year earnings per share (EPS) forecast to US$11.50 from US$11.43.

US equity markets extended their steep declines to cap their worst three-day performance since 2022, with the Dow and S&P 500 registering their sharpest daily losses since 13 September 2022 - Dow tumbled -1,033.99-points or -2.6% to 38,703.27, with all 30 components settling in the red. Intel Corp (down -6.38%) was the worst Dow performer overnight. Apple Inc (down -4.82%) continued to slide after Warren Buffett’s investment vehicle Berkshire Hathaway Inc (down -3.34%) halved its stake in the technology giant and boosted its cash pile to a record high of US$277M, according its second-quarter financial results released on Saturday (3 August),Markets have become increasingly concerned following last Friday’s (2 August)  non-farm payrolls report for July that the Federal Reserve may be moving too slow when it comes to interest rate cuts if it wants to avoid a recession. Indeed, some analysts are now calling for ‘emergency’ rate cuts from the Federal Reserve. Also a lot of talk around the unwinding of the Yen carry trade triggered by the Bank of Japan's (BoJ) unexpected rate hike on Wednesday last week (31 July),