European bourses climbed, with the media sector (up +1.9%) leading the pan-European Stoxx 600 index (which includes UK equities) +0.70% higher. Germany's DAX added +0.32%. France's CAC gained +0.82%. In broader stock moves, Credit Suisse Group AG fell -2.26% after the Swiss investment bank announced on Sunday (16 January) that Chairman António Horta-Osório had resigned following a board investigation into his travel and personal conduct. Mr Horta-Osório joined the Credit Suisse board less than a year ago In economic data, the ZEW Economic Sentiment Index for the eurozone/Germany for January is released tonight AEST.

Major bank stocks weighed on US equity markets on Friday (14 January) to cap a volatile week - Dow fell -202-points or -0.56%, dragged lower by declines for investment banks Goldman Sachs Group Inc (down -2.52%) and JPMorgan Chase & Co (-6.15%), and credit card and travel services group American Express Co (-2.82%) . The broader S&P500 eked out a +0.08% gain, with Energy gaining +2.44% to extend a strong week for the sector. Real Estate (down -1.18%) and Financials (-1.01%) both fell over >1% to be the worst performing sectors. Casino stocks climbed after Macau’s government announced on Friday (14 January) it would allow just six casino licenses in the gambling hub. Las Vegas Sands Corp jumped +14.15% and Wynn Resorts Ltd +8.60%. The Nasdaq rose +0.59%. Netflix Inc rose +1.25% after announcing a price increase for U.S. and Canadian subscribers. The small capitalisation Russell 2000 edged +0.14% higher.

US equity markets retreated as the rebound for technology sector ran out of steam - Dow fell -177-points or -0.49%, unwinding an earlier session gain of more than >200-points. Boeing Co rose +2.97% following a Bloomberg News report that the company’s 737 Max could resume service in China as soon as this month. The broader S&P500 -1.42%, with Information Technology (down -2.65%) and Consumer Discretionary (-2.08%) both falling over >2% to lead eight of the eleven primary sectors lower. More defensive sectors outperformed, with Utilities up +0.45% and Consumer Staples +0.22%. Tesla Inc fell -6.75%. However, Ford Motor Co gained +2.25% and saw its market capitalisation top US$100B for the first time. The rally comes as the company plans to increase electric vehicle production, including the Mustang Mach-E crossover and an upcoming electric version of its best-selling F-150 pickup. Deutsche Bank also named Ford one of its top 2022 automotive stock picks. The technology-centric Nasdaq tumbled -2.51%, snapping a three session rally. Microsoft Corp down -4.23% and Amazon.com Inc -2.42%. The small capitalisation Russell 2000 lost -0.74%.

US equity markets logged modest gains after the December consumer inflation report largely matched economists’ expectations - Dow added +38-points or +0.11% . Global healthcare major Merck & Co Inc (down -0.58%) and biotechnology company Amgen Inc (-0.27%) capped the index’s advance. The broader S&P500 edged +0.28% higher, with Materials (up +0.95%) leading eight of the eleven primary sectors higher. Health Care (down -0.26%) was the only primary sector to close in the red. Tesla Inc gained +3.93% despite a teenager, calling himself a 19-year-old security specialist and hacker, claiming that he had hacked into the software systems of nearly two dozen Tesla electric-powered vehicles and had limited control over them. The technology-centric Nasdaq extended its rebound into a third session, settling with a +0.23% gain. The small capitalisation Russell 2000 shed -0.82%.

US equity markets advanced, with technology stocks consolidating the late rally of the previous session - Dow up +183-points or +0.51% . International Business Machines (IBM) Corp fell 1.60%, paring an earlier session decline of more than >5% that came after analysts at UBS downgraded the stock (lowering their price target to US$124 from US$136) citing concerns about revenue growth following the company’s spinoff of managed infrastructure-service business Kyndryl Holdings Inc and IBM’s ability to compete in the cloud market. Boeing Co (up +3.21%) said that it won orders for 909 planes in 2021 but delivered only around 280 passenger jets, falling behind Airbus SE (+0.42%) and relying more on its cargo jets and military versions of commercial planes. Including cancellations, Boeing secured 535 net new orders, including older deals for 56 planes that it now considers more likely to be fulfilled. Airbus on Monday (10 January) said it delivered 611 jets in 2021 and won orders for 771, or 507 net of cancellations. The broader S&P500 +0.92%, with Energy (up +3.41%) returning to the top of the leaderboard and leading eight of the eleven primary sectors higher. Exxon Mobil Corp gained +4.21%. Information Technology (+1.21%), Materials (+1.11%), Consumer Discretionary (+1.03%) and Communication Services (+1.02%) all gained over >1%. Utilities (down -0.92%) was the worst performing primary sector overnight. American Airlines Group Inc climbed 1.22% after the carrier updated its fourth-quarter guidance to reflect a performance that turned out to be not as bad as expected. The airline said it now expects revenue to be down ~17% compared with the fourth quarter of 2019, before the start of the pandemic, better than previous guidance of down 20%. The company flew 61.1B total available seat miles in the quarter, down -13% versus the prior guidance of down 11% to 13%. The company expects cost per available seat mile (CASM), a measurement of efficiency, to be up +13% to 14% compared to the fourth quarter of 2019, compared with earlier guidance of up 8% to 10%. The technology centric Nasdaq gained +1.41%, with Amazon.com Inc rising +2.40%, Apple Inc +1.68% and Nvidia Corp +1.52%. The small capitalisation Russell 2000 +1.05%.

US equity markets logged modest losses, with major technology stocks rallying in the afternoon session to recoup earlier steep declines - Dow down -163-points or -0.45% . The broader S&P500 slipped -0.14%, with Industrials (down -1.15%) and Materials (-0.99%) leading eight of the eleven primary sectors lower. Health Care (up +1.04%), Information Technology (+0.10%) and Communication Services (+0.02%) were the only primary sectors to advance. The Nasdaq inched +0.05% higher, recovering from a loss of -2.72% earlier in the session that saw the technology centric index trade more than >9% below its record closing high from 19 November (16,057.44) and almost enter official correction territory for the first time since 8 March, 2020. It marked the Nasdaq’s biggest intraday comeback since 28 February, 2020, according to Dow Jones Market Data. The Nasdaq Composite also managed to avoid a close below its 200-day moving average (14,688.73). The benchmark hasn’t closed below its 200-day moving average since 21 April, 2020, according to FactSet data. The small capitalisation Russell 2000 lost -0.40%. Lululemon Athletica Inc fell -1.91% after the company said the omicron variant had hurt its fourth-quarter results. Abercrombie & Fitch Co rallied over >6.5% in extended trading despite lowering its guidance for fourth-quarter sales. The fashion retailer said that it saw strong demand from consumers over the holidays but that it didn’t have enough inventory to sell (particularly at its Hollister and Gilly Hicks lines).

US equity markets retreated after a choppy session as investors digested a lacklustre December jobs report albeit one that in unlikely to be damaging enough to give central bankers reason to pause what has been expressed as a plan to tighten financial policy sooner and faster than had previously been expected - Dow dipped -5-points to 36,231.66, recovering from an intra-session low of 36,111.53. The broader S&P500 eased -0.41%, with Consumer Discretionary (down -1.65%) and Information Technology (-1.01%) falling over >1% to lead seven of the elven primary sectors lower. Energy (up +1.45%) and Financials (+1.15%) were once again the leading primary sector performers. The Nasdaq lost -0.96% to 14,935.90, hitting an intraday low of 14,877.63. The technology-centric index sits ~7% below its most recent (19 November) peak of 16,057.44 (and hence ~3% from official correction territory). The small capitalisation Russell 2000 lost -1.20%. Retailer Dick’s Sporting Goods Inc rose +1.08% after lifting their full-year earnings per share (EPS) (to $13.70 to US13.79, up from previous guidance for $12.88 to 13.06; adjusted EPS is expected to be US$15.50 to US15.60 compared with previous guidance for US$14.60 to US14.80 and current consensus analyst forecasts for US$15.35) and same-store sales (SSS) outlook (for growth between 25.8% to 26.1%, up from previous guidance for an increase between 24% to 25% and versus current consensus for 25.8% growth). Some analysts suggested that consumers had likely completed more holiday shopping early due to widespread news reports of supply chain disruptions that could lead to stock shortages.

US equity markets retreated after a choppy session as investors continued to rotate out of technology stocks - Dow down -171-points or -0.47%. The broader S&P500 slipped -0.10%, with Materials (down -1.24%), Health Care (-1.21%) and Utilities (-1.05%) all falling over >1 and leading six of the eleven primary sectors lower. Energy (up +2.29%) sat atop the primary sector leaderboard overnight, with Financials (+1.55%) also trading strongly. T-Mobile US fell over >1.5% in extended trading after reporting fourth-quarter postpaid phone net additions - a closely watched metric for wireless companies - came in at 844K, lower than the consensus Wall Street analysts’ average forecast for ~868K. The technology-centric Nasdaq dipped-0.13%, relinquishing a modest bounce in the closing minutes of the session. Apple Inc lost -1.67%, Amazon.com Inc -0.67%, and Google-parent Alphabet Inc -0.07%. However, Meta Platforms (formerly Facebook Inc) gained +2.56% The small capitalisation Russell 2000 added +0.56% after falling -3.30% in the previous session. James Hardie Industries Plc fell -4.31% after announcing it has fired Jack Truong as chief executive for code-of-conduct violations and appointed director Harold Wiens as interim Chief Executive Officer (CEO). The building materials supplier also raised its fiscal-year profit expectations, in part because of strong expectations for growth in the U.S. homebuilding market. The company now expects adjusted net income for its fiscal year through March, 2022, to be between US$605M and US$625M, an increase on earlier guidance of between US$580M and US$600M.

US equity markets retreated, tumbling into the close after the minutes of the Federal Reserve’s December monetary policy meeting suggested investors need to gear up for potentially tighter U.S. monetary policy and prompted a strong rotation out of technology stocks and into businesses more tightly linked to the economic recovery - Dow down -393-points or -1.07% after hitting a fresh record intra-day high (36,952.65) earlier in the session, logging its first decline of 2022. Salesforce.Com Inc dropped -8.28% following a downgrade from investment bank UBS. The broader S&P500 shed -1.94% - the index’s worst daily decline since 26 November last year - with Real Estate (down -3.22%) and Information Technology (-3.13%) both falling over >3% to lead all eleven primary sectors lower. The Nasdaq dropped -3.34%, recording the biggest single session loss for the technology-centric index since 25 February last year. Google parent Alphabet Inc closed down 4.6% at US$2,755.50, off more than >7.6% from its 18 November closing high of US$2,996.77. The small capitalisation Russell 2000 fell -3.30%.

Banking and industrial stocks powered the Dow Jones Industrial Average to a fresh record closing high overnight as worries about the Omicron variant of the coronavirus subsided, while a fall in heavyweight technology stocks dragged the S&P 500 and the Nasdaq indices lower - Dow up +215-points or +0.59% to 36,800, touching a fresh intraday peak of 36,934.84. Investment banks Goldman Sachs Group Inc (up +3.07%) and JP Morgan Chase & Co (+3.79%), and integrated payments giant American Express Co (+3.21%) were among the leading Dow performers and among those companies seen to be beneficiaries of rising interest rates. The broader S&P500 dipped -0.06% to 4,793.54 after scaling a fresh record intra-day high (4,818.62) earlier in the session. Energy (up +3.10%) was the leading primary sector performer for a second straight session, while Financials (+2.60%) and Industrials (+2.09%) both gained over >2%. Health Care (down -1.38%) and Information Technology (-1.14%) brought up the rear. Ford Motor Co jumped +11.67% and hit a 21-year high after the auto maker said it plans to nearly double production of its all-electric F-150 Lightning pickups at its Dearborn, Michigan, facility to 150K trucks a year to meet “soaring customer demand.” General Motors Co rallied +7.47% after saying the semiconductor supply issues that have plagued the auto industry improved during the fourth quarter. The company said it delivered 440,745 vehicles in the fourth quarter, down -43% from a year ago, when quarterly retail sales were the best in 13 years. Dealer inventory, including in-transit vehicles on their way to dealers, totalled 199,662 at the end of the fourth quarter, up +55% from a record low of 128,757 at the end of the third quarter. Tesla Inc fell -4.18% after soaring +13.53% in the previous session after releasing a statement on Sunday (2 January) and saying it delivered 308,600 vehicles in the fourth quarter alone, crushing consensus analyst forecasts for 266K. The technology-centric Nasdaq shed -1.33%, under pressure from a fresh rise in bond yields. Apple Inc fell -1.27% to US$179.70 a day after becoming the first public company to reach US$3 trillion in market capitalisation (achieving the milestone after briefly trading above >US$182.86 per share). Advanced Micro Devices lost -3.87%, with Chief Executive Lisa Su announcing new products in an event tied to the annual technology conference in Las Vegas. Ms Su said the company was releasing 20 new Ryzen 6000 series laptop processors beginning in February, and three new Radeon RX 6000S GPUs for thin gaming laptops. Ultrathin gaming laptops were the fastest-growing PC segment, selling at a rate more than three times faster than traditional gaming laptops, Ms Su said.The small capitalisation Russell 2000 slipped -0.16%.

A positive start to 2022 for US equity markets, with both the Dow and S&P500 logging fresh record closing highs - Dow up +247-points or +0.68% to a record closing high 36,585.06. The broader S&P500 rose +0.64% to also scale a record closing peak of 4,796.56, with Energy (up +3.10%) the standout primary sector performer. Consumer Discretionary (+2.76%), Financials (+1.24%) and Information Technology (+1.02%) all gained over >1%. Tesla Inc soared +13.53% after releasing a statement on Sunday (2 January) and saying it delivered more than >936K vehicles in 2021 - 911,209 of which were Model 3 sedans and Model Y SUVs. It marked an 87% increase versus 2020’s totals (when it delivered 499,647 vehicles) and more than the 897K forecast by analysts. The company delivered 308,600 vehicles in the fourth quarter alone, crushing consensus analyst forecasts for 266K. Tesla added that its final delivery numbers are slightly conservative, and may rise slightly after final calculations are made for its fourth-quarter earnings announcement. The Wall Street Journal reported that Tesla’s in-house software engineering helped make it more agile than its rivals at adjusting to the chip shortfall that plagued automakers in 2021. Ford Motor and General Motors rose about 4.8% and 4.3%, respectively. Elsewhere, the Centers for Disease Control and Prevention (CDC) issued a Level 4 notice regarding cruise travel - the highest level, which indicates very high COVID-19 levels. “Avoid cruise travel, regardless of vaccination status,” the agency said in an advisory. “Even fully vaccinated travellers may be at risk for getting and spreading COVID-19 variants.” The CDC reported over >90 cruise ships had COVID-19 cases reported. All but three of those ships were under CDC investigation, including ships operated by Carnival Corp (up +6.9%) and Norwegian Cruise Line Holdings (+6.4%). The Nasdaq rallied +1.20%. Apple Inc (up +2.5% at US$182.01) became the first public company to reach US$3 trillion in market capitalisation. The milestone was achieved after the company briefly traded above US$182.86 per share. Apple first hit the US$2 trillion market cap level on 20 August, 2020 (hitting US$1 trillion for the first time in August 2018). The small capitalisation Russell 2000 gained +1.21%.

US equity markets rallied ahead of Christmas, with the S&P500 sweeping to a fresh record closing high as investors digested some relatively benign US economic and some favourable studies around the relatively muted health impact of the Omicron variant - Dow up +197-points or +0.55% . The broader S&P500 gained +0.62% to 4,725.79, booking its 68th record closing high of 2021 and sitting within 0.4% of its all-time record intra-day peak. Consumer Discretionary (up +1.24%), Industrials (+1.16%) and Materials (+1.01%) all gained over >1% to lead nine of the eleven primary sectors higher. Real Estate (down -0.36%) and Utilities (-0.03%) were the only primary sectors to close in the red. The Nasdaq +0.85%. Microsoft Corp rose +0.45% and Nvidia Corp +0.82%. The small capitalisation Russell 2000 +0.89%. JD.com tumbled -6.92% after Tencent Holdings Ltd said it will substantially reduce its stake in the Chinese internet company.

US equity markets - Dow up +261-points or +0.74%, taking the indice’s two-day rebound to over >800-points or ~2.3%. Caterpillar Inc rose 1.94% after Bernstein upgraded the stock, saying the machinery maker will be a key beneficiary of a rebound in global growth. The broader S&P500 rose +1.02%, with Consumer Discretionary (up +1.73%), Information Technology (+1.33%) and Health Care (+1.17%) all gaining over >1% to lead all eleven primary sectors higher. Tesla Inc jumped +7.49%, with Elon Musk saying in a podcast that he had reached his goal of selling 10% of his shares in the electric vehicle maker to fund enormous tax obligations. A regulatory filing late on Tuesday (21 December) showed that Mr Musk sold a further 583,611 Tesla shares, bringing the total number of shares he has offloaded to 13.5M. Separately, Syrah Resources (SYR.ASX) it has signed an offtake agreement with Tesla for natural graphite from its production plant in Louisiana. The Nasdaq +1.18%. The small capitalisation Russell 2000 added +0.86%. Alibaba Group Holding Ltd’s American Depository Receipts (ADRs) fell -4.20% following reports that China’s IT regulator disciplined the company for failing to report an open-source security vulnerability to the government.

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.

US equity markets booked a third straight decline as major global cities grappled with surging COVID-19 infections tied to the omicron variant - Dow down -433-points or -1.23%, with Boeing Co (down -2.15%), Goldman Sachs Group Inc (-2.67%) and American Express (-2.57%) among the key drags on the index. The broader S&P500 -1.14%, with Financials (down -1.90%), Materials (-1.82%), Industrials (1.65%) and Consumer Discretionary (-1.65%) all down over >1.5% to lead nine of eleven primary sectors lower. Utilities (up +0.05%) and Consumer Staples (+0.04%) were the only primary sectors to edge higher. Th technology-centric Nasdaq shed -1.24%. The small capitalisation Russell 2000 -1.40%. In merger and acquisition (M&A) news, enterprise software giant Oracle Corp (down -5.15%) announced that it will buy electronic medical records company Cerner Corp (+0.80%) in an all-cash deal for US$95 per share, or ~US$28.3B in equity value.

US equity markets declined to cap a week in which several major central banks acknowledged the threat posed by high inflation, while the Omicron coronavirus variant continued to weigh on sentiment - Dow down -532-points or -1.48% to 35,365.44, touching an intra-session low of about 35,284. It marked the index’s worst single session decline since 30 November. The S&P500 fell -1.03% to 4,620.64, touching an intra-session low of ~4,600 and the broader index’s steepest daily decline since 1 December. Financials (down -2.27%) and Energy (-2.24%) both fell over >25 to lead all eleven primary sectors lower. The Nasdaq dipped -0.07% to settle at 15,169.68, recovering from a session low of ~14,960 (down ~1.5%). Microsoft Corp dipped -0.3%, extending its weekly decline to nearly 5.5%. Google parent Alphabet Inc (down -1.41%) and Apple Inc (-0.65%) both fell more than >4% last week. The small capitalisation Russell 2000 gained +1.0%. Friday’s (17 December) session was ‘quadruple witching’, the simultaneous expiration of single-stock options, single-stock futures, and stock-index options and stock-futures, and end of quarter fund rebalancing. US equity and bond markets are closed on Friday night AEST (24 December) in observance of Christmas.

US equity markets weaker as investors digested the latest monetary policy pronouncements from a number of major global central banks – Dow slipped -30-points or -0.08%, unwinding an earlier rally of over >200-points. Banks helped the Dow outperform on a relative basis, with Goldman Sachs Group Inc rising +1.91% and JPMorgan Chase & Co +1.56%. The broader S&P500 fell -0.87% after briefly trading above its 10 December record closing high (4,687.64) in early trading. Financials (up +1.21%) and Materials (+1.04%) rose over >1% to lead eight of the eleven primary sectors higher. Information Technology (down -2.86%) was the big underperformer. Delta Air Lines Inc declined -2.21% after the carrier set its financial goals for the coming years ahead of its scheduled Capital Markets Day. The Nasdaq tumbled -2.47%, the technology-centric indice’s the biggest one-day point and percentage loss since 28 September. Apple Inc fell -3.93%, Amazon.com Inc -2.56% and Microsoft Corp -2.91%. Major semiconductor stocks Advanced Micro Devices Inc and Nvidia Corp dropping -5.37% and -6.80%, respectively. The small capitalisation Russell 2000 shed -1.95.

US equity markets recovered from earlier session losses to settle with solid gains following the Federal Reserve’s latest monetary policy pronouncements - Dow up +383-points or +1.08% at 35,927.43. The broader S&P500 gained +1.63% to 4,709.85, the second highest close of 2021 after briefly climbing above its 10 December record closing high (4,712.02), with Information Technology (up +2.75%) and Health Care (+2.11%) rising over >2% to lead ten of the eleven primary sectors higher. Energy (down -0.53%) was the only primary sector to close in the red. Visa Inc rose ~0.9% in extended trading after a late filing confirmed the company’s board has authorized a new US$12B share repurchase program. The Nasdaq rallied +2.15%, erasing an earlier ~0.7% decline. The small capitalisation Russell 2000 climbed +1.54%.

US equity markets declined following the release of data recording that US wholesale prices rose at a record pace in November and ahead of the Federal Reserve’s latest monetary policy decision - Dow down -107-points or -0.30%, booking its first back-to-back loss for December. The broader S&P500 fell -0.75%, with Information Technology (down -1.64%) and Real Estate (-1.27%) logging declines of over >1% to lead ten of the eleven primary sectors lower. Financials (up +0.62%) was the only primary sector to advance. Tesla Inc fell -0.82% after a regulatory filing revealed that Chief Executive Officer (CEO) Elon Musk had sold a further US$906M worth of his holding in the electric vehicle maker (taking the total amount of shares he as sold thus far to 11.9M). The main reason Mr Musk is selling is to pay the taxes on the exercise of options that expire next summer. Ford Motor Co declined -1.9% following news that by 2030 Toyota would be investing US$35B into battery-powered electronic vehicles, a space where Ford has sought to establish itself as a leader. The Nasdaq -1.14%. Microsoft Corp (down -3.26%) was a major drag on the benchmark indices. Adobe Inc shed -6.60% after JPMorgan published its 2022 outlook report on software technology and issued a series of downgrades, citing high valuations. The small capitalisation Russell 2000 lost -1.06%.

US equity markets retreated amid some profit taking as investors brace for a busy week of central bank meetings - Dow fell -320-points or -0.89%, with Boeing Co (down -3.74%) a notable drag on the index. The broader S&P500 lost -0.91% a day after logging its 67th record closing high of 2021 (4,712.02) and settling ~0.7% from its all time intra-day high. Energy (down -2.77%) and Consumer Discretionary (-2.44%) both fell over >2% to lead seven of the eleven primary sectors lower. More defensive sectors outperformed, with Real Estate (up +1.32%), Utilities (+1.21%) and Consumer Staples (+1.20%) all advancing over >1%. Re-opening plays like airlines (American Airlines Group Inc fell -4.94%, and Delta Air Lines Inc -3.43% and United Airlines Holdings Inc -5.24%) and cruise lines (Carnival Corp down -4.88%) were among the biggest losers overnight. Tesla Inc fell -4.98% to US$966.41, taking the electric vehicle maker’s decline in December to over >14% and putting the stock in official bear market territory, down -21.4% from its 4 November high of US$1,229.91. The Nasdaq shed -1.39%. The small capitalisation Russell 2000 declined -1.27%. Harley-Davidson Inc (up +4.70%) announced that it is spinning off its electric bikes division, LiveWire, and listing it on the stock market through a merger with a blank-cheque company (AEA Bridges Impact Corp, a special purpose acquisition company (SPAC) run by executives of private equity firm AEA Investors and investment group Bridges Fund Management). The deal gives LiveWire an enterprise value of US$1.8B.

US equity markets advanced to cap their strongest week since February - Dow up +216-points or +0.60% . The broader S&P500 gained +0.95% to log its 67th record closing high of 2021 at 4,712.02 and settle ~0.7% from its all time intra-day high. Information Technology (up +2.07%) and Consumer Staples (+2.00%) led all eleven primary sectors higher. Oracle Corp jumped +15.61% to record highs following impressive November quarter earnings after the close of the previous session that showed signs of progress in the company’s transition into a cloud-based software provider. However, Southwest Airlines Co fell 3.76% after Goldman Sachs downgraded the carrier, writing that medium-term inflation pressure is expected to “drive a slower-than-industry return to profitability.” The Nasdaq +0.73%. Apple Inc and Microsoft Corp gained +2.8% and +2.83%, respectively, to provide the biggest boost to the major indexes. The small capitalisation Russell 2000 eased -0.38%.

US equity markets snapped a three session winning streak ahead of the release of US consumer inflation figures tonight AEST - Dow dipped -0.06% . The broader S&P500 lost -0.72%, with Consumer Discretionary (down -1.70%), Real Estate (-1.36%) and Information Technology (-1.09%) all falling over >1% and leading nine of the eleven primary sectors lower. Health Care (up +0.24%) and Consumer Staples (+0.06%) were the only primary sectors to advance. American Airlines Group Inc fell -0.49% after the company said it’s reducing its schedule due to the fact that it’s still awaiting Boeing Co (-1.64%) Dreamliner deliveries. Tesla Inc fell -6.1% after disappointing some investors who had reportedly optimistically expected the electric vehicle maker to make a major announcement (including a major product announcement and/or stock split). CVS Health Corp gained +4.52% after the company raised its full-year earnings-per-share guidance to at least US$8, up from a previous forecast of between US$7.90 and US$8. The company is also boosting its annual dividend to US$2.20 from US$2 and will execute a US$10B stock buyback program. The Nasdaq -1.71%. The small capitalisation Russell 2000 dropped -2.17.

US equity markets extended their climb into a third consecutive session - Dow edged +35-points or +0.10% higher . The broader S&P500 rose +0.31% to 4,701.21 and within touching distance of its 18 November record closing high of 4,704.54 (and ~0.9% shy of its record intra-day high of 4,473.83). Communication Services (up +0.75%) and Health Care (+0.74%) led eight of the eleven primary sectors higher. Norwegian Cruise Line Holdings Ltd jumped +8.2% to be the biggest gainer in the in the S&P500. Other travel and leisure names also traded strongly, including fellow cruise operator Carnival Corp up +5.51%, and carrier United Airlines Holdings Inc +4.24%. The Nasdaq rose +0.64% to settle within 2% of the technology-centric index’s all time high. The small capitalisation Russell 2000 rose +0.80.

US equity markets consolidated their strong start to the week- Dow up +492-points or +1.40% . The broader S&P500 gained +2.07%, recording its best day since 1 March to sit ~1% away from its all time high. Information Technology (up +3.51%) led all eleven primary sectors higher, with Consumer Discretionary (+2.36%) and Energy (+2.28%) logging gains of over >2%. Tesla Inc rose +4.24% to US$1,051.74, with UBS hiking their target price on the electric vehicle maker to US$1,000 per share and saying it expects “no rival to get even close to Tesla in 2022.” American Airlines Group Inc slipped -0.22% after announcing Doug Parker will retire as Chief Executive Officer (CEO) next year and be succeeded by the company’s president, Robert Isom, on 31 March. Mr Parker will stay on as chairman of American’s board. The Nasdaq jumped +3.03% to log its best single session performance since 9 March. Apple Inc gained +3.54% to US$171.18, buoyed by Morgan Stanley lifting their price target on the technology heavyweight to US$200 (from US$164 previously), citing the company’s commitment to developing augmented and virtual reality technology. The small capitalisation Russell 2000 +2.28%.

Stocks linked to the re-opening economy led a strong start to the week for US equity markets, with the Dow reclaiming the 35,000 level - Dow rallied +647-points or +1.87% to 35,227.03, more than comfortably erasing last week’s -319-point-0.91% decline. The broader S&P500 gained +1.17%, with Industrials (up +1.64%), Consumer Staples (+1.60%), Utilities (+1.53%) and Energy (+1.50%) all logging gains of 1.5%+ to lead all eleven primary sectors higher. Airlines (United Airlines Holdings up +8.32% and American Airlines Group Inc +7.88%) and cruise operators (Royal Caribbean Cruises Ltd up +8.22% and Carnival Corp +8.08%) Tesla Inc fell -0.59% after Reuters reported the U.S. SEC has opened a probe into the electric-car maker over whistleblower claims on solar panel defects. The Nasdaq +0.93%. Nvidia Corp fell -2.14% to US$300.37and into correction territory, closing ~10% below their all time closing high of US$333.76 set on 29 November. Late last Thursday (9 December), the Federal Trade Commission sued to block Nvidia’s $40B acquisition of Arm from SoftBank Group Corp (-8.20%) that has met with several headwinds since it was first announced back in late 2020. Fellow chipmaker Advanced Micro Devices Inc (down -3.44%) fell further into correction territory, now down -13.7% from its most recent closing high of US$161.09. Elsewhere, the US listed shares of Alibaba Group Holdings Ltd logged their largest single-day percentage gain since 8 June, 2017 with a +10.4% rally after a tough recent stretch for numerous Chinese internet stocks. The small capitalisation Russell 2000 gained +2.05%.

A broad sell-off in the technology sector saw US equity markets complete a tumultuous week on softer note, with investors digesting the latest November jobs figures and implications for central bank monetary policy - Dow down -60-points or -0.17%, paring an earlier decline of over >300-points. Boeing Co lost -1.9%. The broader S&P500 lost -0.84% to 4,538.43, falling below its 50-day moving average (4,544) once again. Consumer Discretionary (down -1.84%), Information Technology (-1.65%) and Financials (-1.54%) all down over >1.5%. Tesla Inc fell -6.42%. Airlines (Delta Air Lines Inc down -1.8%) and cruise operators (Norwegian Cruise Line Holdings Ltd down -4.54% and Carnival Corp -3.86%) saw fresh selling pressure. The technology-centric Nasdaq -1.92%. Facebook Inc fell -1.9% to settle more than >20% below its intra-day peak in September. Nvidia Corp fell -4.46% a day after the Federal Trade Commission sued to block the US$40B acquisition of Arm from SoftBank Group Corp (-0.71%). The small capitalisation Russell 2000 -2.13%. Ride-hailing giant Didi Global Inc tumbled -22.18% after announcing that it will delist from the New York Stock Exchange and make plans to list in Hong Kong instead following pressure from the Chinese government. The decision comes less than six months after the company listed in the U.S. (with the stock falling ~44% in that period). SoftBank Corp (up +0.13%) and Uber Technologies Inc (down -5.95%) combined own over >30% of Didi. Other Chinese companies listed on the NYSE came under pressure, with JD.Com Inc down -7.71%, Baidu Inc -7.77% and Alibaba Group Holding Ltd -8.23%.

US equity markets rebounded, with cyclicals clawing back some of their recent sharp falls - Dow rallied +618-points or +1.82% . Boeing Co jumped +7.54% after China cleared the 737 Max to return to fly. The broader S&P500 gained +1.42%, with Industrials (+2.89%), Financials (+2.83%), Energy (+2.81%) and Real Estate (+2.67%) all rebounding over >2% to lead all eleven primary sectors higher. The Nasdaq +0.84%. Apple Inc slipped -0.61% after Bloomberg reported that the company told some of its suppliers there could be slowing demand for iPhone 13 models. It previously expected the reduction in its initial production goal to be made up in 2022 but said that may not materialise now. The small capitalisation Russell 2000 rallied +2.74% a day after marking its first correction since June of 2020.

US equity markets relinquished solid gains to settle lower after the country recorded its first confirmed case of the omicron variant of the coronavirus – the Dow staged a 983-point U-turn to settle -462-points or -1.34% lower at 34,022.04, unwinding an earlier +520-point/+1.5% rally and settling below its 200-day moving average (34,361.27) for the first time since July. Salesforce.Com Inc tumbled -11.74% after the customer relationship management company provided disappointing fourth quarter earnings per share (EPS) guidance after the close of the previous session. The broader S&P500 lost -1.18% to 4,513.04, closing below its 50-day moving average (4,539.32) for the first time since 13 October. Communication Services (down -1.98%) and Consumer Discretionary (-1.86%) both fell over >1.5% to lead ten of the eleven primary sectors lower, with seven sectors logging declines of over >1%. Utilities (up +0.16%) was the only primary sector to close in the black. General Motors Co edged +0.33% higher after the automaker slightly raised its 2021 earnings guidance (to ~US14B from US$11.5B-to-US$13.5B previously) on strong pricing, resilient consumer demand and a stronger-than-expected supply of semiconductor chips. The Nasdaq dropped -1.83% after rallying as much as +1.8% earlier in the session. The small capitalisation Russell 2000 shed -2.18% to mark its first official correction since June of 2020. Some commentators also cited tax loss selling as a factor for the recent weakness.

Fresh concerns about the potentially damaging economic effect of the Omicron coronavirus variant and hawkish comments from Federal Reserve Chair Jerome Powell dragged US equity markets lower - Dow dropped -652-points or -1.86%, with American Express Co (-3.52%) and Salesforce.Com Inc (-3.97%) among the key drags on the index. The broader S&P500 -1.90%. Communication Services (down -3%) led all eleven primary sectors lower, with eight primary sectors logging falls of over >2%. Mastercard Inc (down -2.50%) announced after the closing bell that its directors authorized an +11% dividend increase (to US$0.49c per share) and an US$8B share buyback program. The technology-centric Nasdaq lost -1.55%. Amazon.com Inc (down -1.53%) is reportedly working on custom silicon chips for its hardware network switches to take on Intel Corp (-1.60%) and Nvidia Corp (-2.10%). according to Reuters. The chips, which could help Amazon improve its internal infrastructure as well as AWS, are said to be the result of Amazon’s US$350M acquisition of Israeli chipmaking firm Annapurna Labs back in 2015. Microsoft Corp hosted their Annual General Meeting overnight. The small capitalisation Russell 2000 fell -1.92%.

US equity markets rebounded as President Joe Biden told Americans the fight against the omicron variant of coronavirus won’t involve “shutdowns or lockdowns.” - Dow up +237-points or +0.68% a day after recording its worst daily decline (-905-points or -2.53%) since 28 October, 2020. Walmart Inc lost -1.57% after announcing that it will begin the search for a successor to Chief Financial Officer (CFO) Brett Biggs, who has been with the company for 22 years and became CFO on 31 December, 2015. However, Merck & Co (down -5.39%) was the largest drag on the Dow after Citi downgraded the stock to neutral from buy, saying in a research note that development struggles for the company’s HIV drug were taking a bite out of Merck’s long-term potential. The broader S&P500 gained +1.32%, with Information Technology (up +2.64%) leading all eleven primary sectors higher. Consumer Discretionary (up +1.63%), Utilities (+1.57%), Real Estate (+1.33%) and Communication Services (+1.12%) all rose over >1%. Moderna Inc continued to soar, climbing a further +11.80% overnight. The biotechnology company’s Chief Medical Officer Paul Burton said Sunday (28 November) that Moderna could roll out a reformulated vaccine against omicron early next year. However, Pfizer Inc fell -2.96%. The technology-centric Nasdaq rose +1.88%, with Apple Inc rising +2.19% and Amazon.com Inc +1.63% and Microsoft Corp rose +2.11% ahead of its Annual General Meeting (AGM). Twitter Inc fell -2.74%, unwinding an earlier rally of over >11% following news that Chief Executive Officer Jack Dorsey was stepping down from the role, effective immediately. Parag Agrawal, Twitter’s chief technology officer, will take over the helm. Mr Dorsey will remain a member of the board until his term expires at the 2022 meeting of stockholders, the company said. However, the small capitalisation Russell 2000 slipped 0.18%.

An ugly finish to the shortened Thanksgiving week for US equity markets during a thinly traded, abbreviated Black Friday session as a new COVID variant found in South Africa triggered a shift away from risk assets - Dow dropped -905-points or -2.53%, down over >1,000 points at its worst levels of the session and recording its worst daily decline since 28 October, 2020. The decline for the Dow saw it mark its first close below its 50-day moving average (at 35,261.93) since 14 October. Boeing Co fell -5.41%. The broader S&P500 tumbled -2.27% to 4,594.62, with Energy (down -4.07%) leading all eleven primary sectors lower and with six of those logging falls of over >2.5%. Travel stocks were unsurprisingly under the pump, with Delta Air Lines Inc down -8.34%, United Airlines Holdings Inc -9.57%, American Airlines Group Inc –8.79%, and cruise operators Royal Caribbean Group tumbling -13.22% and Norwegian Cruise Line Holdings Ltd -11.36%. A number of technical/charting analysts cite the 50-day moving average of 4,570 as a key level, along with 4,566 (representing a 38.2% retracement of the rally); and 4,550 (a previous high from early September) and the round figure of 4,500. Tesla Inc slid -3.05% after a report that the company will invest US$188M to expand production capacity at its Shanghai factory. The Nasdaq -2.23%. Microsoft Corp’s (down -2.44%) Chief Executive Officer Satya Nadella sold ~838.6K shares of common stock – or about half of his holding - last week (22 and 23 November) between US$349.22 and US$334.37 per share. The declines for the S&P 500, Dow and Nasdaq Composite represented their worst Black Friday performance since 1950.The small capitalisation Russell 2000 -3.67%. China’s ride-hailing giant Didi Global Inc sank -2.84% after Bloomberg reported that Chinese regulators have asked the firm’s executives to formulate a plan to delist from the U.S.

US bond and equity markets were CLOSED overnight AEST for Thanksgiving Day, while it is an abbreviated session tonight AEST.

US equity markets pushed modestly higher as the recent jump in bond yields took a breather, lifting some pressure on the technology sector - Dow dipped -9-points or -0.0% . The broader S&P500 added +0.23%. The Nasdaq +0.44%. The small capitalisation Russell 2000 +0.15%. US bond and equity markets CLOSED tonight AEST for Thanksgiving Day followed by an abbreviated session on ‘Black Friday’ (26 November).

US equity markets mixed, with Federal Reserve Chair’s Jerome Powell’s nomination for a second term weighing on the technology sector (which is often more sensitive to changes in interest rate policy) - Dow gained +195-points or +0.55% , with investment banks Goldman Sachs Group Inc (up +2.56%) and JPMorgan Chase & Co (+2.39%) trading strongly for a second straight session. The broader S&P500 edged +0.17% higher, with Energy (up +3%), Financials (+1.55%) and Real Estate (+1.10%) up over >1% to lead eight of the eleven primary sectors higher. The technology-centric Nasdaq lost -0.50%. The small capitalisation Russell 2000 slipped -0.15%.

US equity markets mixed after a late session sell-off - Dow added +17-points or +0.05%, unwinding an earlier rally of more than >300-points. However, investment banks Goldman Sachs Group Inc (up +2.26%) and JPMorgan Chase & Co (+2.13%) both help up well following the announcement that President Joe Biden has nominated Federal Reserve Chair Jerome Powell for a second four-year term. The broader S&P500 eased -0.32, with Communication Services (down -1.24%) and Information Technology (-1.14%) leading five of the eleven primary sectors lower. Energy (+1.77%) and Financials (1.43%) sat atop the primary sector leaderboard. The technology-centric Nasdaq fell -1.26% as investors eyed potential rising interest rates. The small capitalisation Russell 2000 fell -0.50%.

Concerns over a resurgence of COVID-19 saw US equity markets struggle on Friday (19 November) although technology stocks pushed higher – Dow down -269-points or -0.75%, with Boeing Co (down -5,77%) a notable drag. The broader S&P500 eased -0.14%, with Energy (down -3.91%) and Financials (-1.11%) the worst performing primary sectors. Information Technology (up +0.77%) headed the gainers lists. Carriers (United Airlines Holdings fell -2.78% and Delta Air Lines Inc -1.07%) and cruise operators (Norwegian Cruise Line Holdings Ltd -2.08% and Royal Caribbean Cruises Ltd -2.98%) were under pressure. The Nasdaq added +0.40% to log its 46th record closing high of 2021 at 16,057.44. Intuit Inc (up +10.08%) and Micron Technology Inc (+7.80%) were among the best performers on the technology-centric index. The small capitalisation Russell 2000 fell 0.86%.

US equity markets weaker as inflation concerns continued to drag on sentiment - Dow down -211-points or -0.58% . The broader S&P500 eased -0.26%, with Energy (down -1.78%) leading seven of the eleven primary sectors lower. More defensive sectors outperformed, with Real Estate up +0.65%, Consumer Discretionary +0.59% and Health Care +0.16%. The Nasdaq -0.33%. PayPal Holdings Inc fell -4.34%, with analysts at Bernstein downgrading the company to “market perform”. Bernstein noted that PayPal has a reputation for disrupting the payments ecosystem, but it “now risks getting disrupted” itself and cited various competitive pressures for the digital payments giant (including the “increasing aggregation” of e-commerce activity on large platforms like Amazon.com Inc (up +0.21%) and Shopify Inc (down -2.25%). The small capitalisation Russell 2000 shed -1.16%.

US equity markets climbed, buoyed by a strong October retail sales report and better-than-expected third-quarter results from big box retailers Home Depot and Walmart - Dow added +55-points or +0.15% . The broader S&P500 rose +0.39%, with Consumer Discretionary (up +1.38%) and Information Technology (+1.07%) both gaining over >1%. Tesla Inc rebounded +4.08%. It was a strong session for electric vehicle (EV) companies more broadly, with EV start-up Lucid Group Inc soaring +23.71% after executives told investors that reservations for its first vehicles are up and 2022 production plans are still on track. That pushed its market cap to about US$89B, past that of Ford Motor Co (down -0.35%) but still far below Tesla’s, which hit $1 trillion this year. Elsewhere, Rivian Automotive Inc jumped +15.16% to see its market capitalisation climb above Volkswagen AG (+0.54%). Rivian’s value has doubled to US$153B since floating only last Wednesday (10 November).The Nasdaq gained +0.76%, with Qualcomm Inc jumping +7.89% after the wireless technology company issued bullish forecasts at an investor’s conference in New York and said that its growth doesn’t rely on a relationship with any single customer, such as its modem chip sales to Apple Inc (+0.67%). Qualcomm currently supplies wireless chips for Apple’s devices but said it expects to provide just 20% of the modem chips needed for the 2023 iPhone. “This company can no longer be defined by a single market and a single end-customer,” Qualcomm Chief Executive Officer (CEO) Cristiano Amon observed. The small capitalisation Russell 2000 edged +0.17% higher.

A muted start to the new trading week for US equity markets, with the benchmark indices little changed as Treasury yields climbed and investors eye quarterly reports from big retailers later in the week - Dow dipped -13-points or -0.04% . Boeing Co rose +5.49% following news that Saudi Arabian Airlines is in talks with Airbus SE (up +1.76%) and Boeing for a wide-body jet order. At the same time, Emirates announced an order for two Boeing 777 Freighters at the 2021 Dubai Airshow. The broader S&P500 unchanged, with Utilities (up +1.31%) and Energy (+0.79%) leading seven of the eleven primary sectors higher, while Health Care (down -0.64%) and Materials (-0.46%) were the worst performing primary sectors overnight. Tesla Inc (down -1.94% at US$1,013.39) continued to slide – and briefly fell below

US equity markets rallied but till logged their first weekly decline in six weeks amid heightened inflation concerns - Dow up +179-points or +0.50% to close at 36,100.31. Johnson & Johnson climbed +1.2% after the world’s largest healthcare company announced that it is splitting in two, breaking off its consumer health division (which is forecast to generate US$15B in sales this year) into a separate publicly traded company in 18-to-24 months time. It marked the latest in a wave of well-known global companies to announce plans to split up last week, following US industrial conglomerate General Electric Co (+0.55%) and Japan’s Toshiba, in an effort to slim down and focus on individual businesses. The broader S&P500 gained +0.72%. Tesla Inc fell -2.83% to extend its weekly decline to -15.4% - the electric vehicle company’s worst week in 20-months – as Chief Executive Officer (CEO) Elon Musk commenced with his plans to sell a huge block of his holding in the company. A Securities and Exchange Commission filling late last Wednesday (10 November) showed Mr Musk sold more than 4.5M shares for close to US$5B, and a further 1.2M shares worth more than US$1.2B on Friday (12 November). Mr Musk sold shares in part to satisfy tax obligations related to an exercise of stock options (he faces an August 2022 deadline to exercise more than 20M additional options or let them expire worthless. The Nasdaq rose +1.00%. Facebook-parent Meta Platforms Inc rallied +4.01%, while Apple Inc (+1.43%), Microsoft Corp (+1.29%) and Amazon.com Inc (+1.52%) each added more than >1%. The small capitalisation Russell 2000 added +0.11%.

US equity markets mixed in the wake of the October inflation report released in the previous session - Dow down -159-points or -0.44% . Walt Disney Co fell -7.07% - its worst daily performance since June 2020- after the company reported after the closing bell of the previous session, with fiscal fourth quarter earnings per share and revenue falling short of Wall Street’s expectations, while Disney+ added a less-than-expected +2.1M subscribers. The broader S&P500 edged +0.10% higher, with Materials (up +0.85%) leading six of the eleven primary sectors higher. Tesla Inc lost -0.42%, with a Securities and Exchange Commission filling showing Chief Executive Officer (CEO) Elon Musk sold more than 4.5 million shares of the electric-vehicle maker for close to US$5B. The technology centric Nasdaq rebounded +0.57%. Chipmakers NVIDIA Corp (up +3.16%) and Advanced Micro Devices (+4.39%) logged solid gains. The small capitalisation Russell 2000 +0.82%.

US equity markets retreated as investors digested the latest inflation data that recorded that consumer prices rose at their fastest pace in more than 30-years in October - Dow shed -240-points or -0.66% . The broader S&P500 fell -0.82%, with Energy (down -3.00%) leading eight of the eleven primary sectors lower. Information Technology (down -1.68%) and Communication Services (-1.25%) both fell over >1%. The Utilities sector was the best performing primary sector overnight with a +0.70% gain. The technology-cetnric Nasdaq dropped -1.66%. The small capitalisation Russell 2000 fell 1.55%.

US equity markets retreated amid some profit taking ahead of the release of US inflation data - Dow down -112-points or -0.31% . The broader S&P500 -0.35%, snapping an eight session losing streak and a day after posting its 64th record closing high of 2021. Consumer Discretionary (down -1.35%) led five of the eleven primary sectors lower. PayPal Holdings Inc tumbled -10.46% a day after the digital payments company issued weaker-than-expected fourth-quarter and full-year guidance. Tesla Inc (down -11.99%) continued to slide after founder Elon Musk last weekend asked in a Twitter poll whether he should sell 10% of his stock, with nearly 58% of respondents saying ‘yes’. General Electric Co gained +2.65% after announcing plans to break into three separate companies focused on healthcare, energy and aviation. GE Healthcare will be spun off in 2023, with GE retaining a 19.9 per cent stake in the unit. GE Renewable Energy, GE Power and GE Digital will be combined into one energy-focused company that will be spun off in 2024. Once these transactions are completed, the original GE will focus on aviation. The Nasdaq fell -0.60%. The small capitalisation Russell 2000 lost -0.65%. In merger and acquisition (M&A) news, DoorDash Inc (down -0.59%) - which posted both record revenue and orders in the third quarter as demand for delivery continued - also announced it is buying Finland food-delivery company Wolt in an all-stock deal worth more than >US$8B.

Modest gains for the benchmark US equity indices after Congress approved an infrastructure spending package, with the S&P500 logging its first close above >4,700 - Dow up +104-points or +0.29% to a record closing high 36,432.22. Caterpillar Inc rose +4.07% to be the leading index performer. The broader S&P500 inched +0.09% higher to log its eighth consecutive record closing high at 4,701.72, marking the longest series of all-time highs since 1997, according to Dow Jones Market Data. Materials (up +1.23%) led six of the eleven primary sectors higher, while more defensive sectors underperformed. Utilities (down -1.45%) and Consumer Discretionary (-1.38%) both fell over >1%. Tesla Inc fell -4.84% founder Elon Musk rattled investors over the weekend, asking in a Twitter poll whether he should sell 10% of his stock as a response to political clamouring to tax unrealised gains from equity holdings (58% of respondents said yes). Airlines climbed (Delta Air Lines Inc up +0.81%, United Airlines Holdings Inc +0.76% and American Airlines Group Inc +1.97%) after the US ended its pandemic-era international travel ban overnight. The Nasdaq inched +0.07% higher to 15,982.36 and registered its 11th straight gain and the longest such win streak since 26 December, 2019. Advanced Micro Devices Inc soared +10.14% after the company announced new products during its Accelerated Data Centre Premiere and disclosed that Facebook parent Meta Platforms Inc would use its Epyc processors. Chipmaking peer Nvidia Corp rose +3.40% as the company’s annual GPU Technology Conference kicked off overnight. The small capitalisation Russell 2000 also inched +0.07% higher.

Fresh record highs for the benchmark US equity indices to cap a solid week, buoyed by the latest October jobs figures and encouraging results from Pfizer for its antiviral COVID-19 pill - Dow up +204-points or +0.56% to close at a new peak of 36,327.95. The broader S&P500 added +0.37% to log its seventh consecutive gain and settle at a record high of 4,697.53. Energy (up +1.42%) led ten of the elven primary sectors higher on Friday night AEST (5 November), with Health Care (down -1.03%) the only primary sector to close in the red. Pfizer Inc jumped +10.86% after the pharmaceutical company said its COVID antiviral reduced the risk of hospitalizations or death by 89% in a Phase 2/3 study. Pfizer board member Dr. Scott Gottlieb said that the pandemic could be over in the U.S. by the time President Biden’s workplace vaccine mandates take effect in early January. Pharmaceutical peer Merck & Co closed -9.86% lower as investors appeared to shun Pfizer rivals. However, the news boosted classic reopening plays, with United Airlines Holdings Inc rallying +7.26% and American Airlines Group Inc +5.77%. Expedia Group Inc jumped +15.63% a day after the company said renewed travel demand boosted its top and bottom lines higher than analysts had expected. Chief Executive Officer (CEO) Elon Musk n Saturday (6 November) asked his 62.5M Twitter followers to determine the future of a chunk of his Tesla Inc (down -0.64%) holdings. Mr Musk previously said he was likely to sell “a huge block” of his options in the fourth quarter. The Nasdaq +0.020% to an all-time closing high of 15,971.59. The small capitalisation Russell 2000 +1.44%. For the week, the Dow rose 1.42%, the S&P 500 gained +2.00% and the Nasdaq advanced +3.05%.

The S&P500 and Nasdaq logged their sixth consecutive record closing highs - Dow slipped -33-points or -0.09% snaping a run of four record closing highs as Goldman Sachs Group Inc (down -2.35%) and JPMorgan Chase & Co (-1.31%). The broader S&P500 rose +0.42% to a record close of 4,680.06, with Information Technology (up +1.54%) and Consumer Discretionary (+1.49%) both rising ~1.5% to lead six of the eleven primary sectors higher. Financials (down -1.34%) and Real Estate (-1.14%) declined over >1% to be the worst performing primary sectors. The technology-centric Nasdaq gained +0.81% to 15,940.31. NVIDIA Corp soared +12.04%, recording its largest single-day percentage gain in more than 19 months and topped US$700B in market capitalisation for the first time, as optimism builds ahead of the chipmaker’s annual GTC developer conference on Monday (8 November). Qualcomm Inc jumped +12.73% after the chipmaker forecast better-than-expected profit and revenue for its current quarter after the close of the previous session on soaring demand for chips used in phones, cars and other internet-connected devices. The small capitalisation Russell 2000 dipped -0.08% after climbing to a fresh record closing high a day earlier.

Benchmark US equity indices pushed further into record territory, logging a fourth straight session of record closing highs – the longest such streak since 5 October, 2017 - - Dow up +105-points or +0.29% to a record closing high of 36,157.58, recovering from an earlier -160-point slide. The broader S&P500 +0.65% to record settlement of 4,660.57 The Nasdaq +1.04% to an all-time high of 15,811.58. The small capitalisation Russell 2000 gained +1.8% to a record closing high of 2,404.28.

Another round of fresh record closing highs for all three benchmark US equity indices amid better-than-expected earnings reports ahead of a Federal Reserve policy statement tomorrow morning AEST - Dow up +139-points or +0.39% at 36,052.63, settling above 36,000 for the first time. It was 71 trading days since the Dow last cleared a 1,000-point milestone, marking the longest stretch between milestones since the stretch of 218 trading days between the Dow’s move between 29,000 and 30,000 completed in November of last year, according to Dow Jones Market Data. The close above 36,000 marks the Dow’s sixth 1,000-point milestone of 2021, the most ever seen in a single year. Salesforce.com Inc. (up +0.06%) has been the biggest contributor to the Dow’s rise since 35,000, while Visa Inc (down-1.56%) has been the biggest drag. The broader S&P500 rose +0.37% to 4,630.65. Materials (up +1.10%) led nine of the eleven primary sectors higher, with Energy (down -1.01%) and Consumer Discretionary (-0.62%) the only primary sectors to close in the red. Telsa Inc fell -3.03% after Chief Executive Officer (CEO) Elon Musk questioned the factors driving the recent rally for the electric vehicle maker that has seen the company’s market capitalisation surge past US$1 trillion in market capitalisation since an announcement on 25 October that Hertz Global Holdings Inc (up +2.66%) will by 100K Model 3 vehicles. Mr Musk tweeted ““If any of this is based on Hertz, I’d like to emphasise that no contract has been signed yet,” adding “Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers.” Separately, Tesla is recalling about 11,700 2017 to 2021 Model S, Model 3 and Model X vehicles, and 2020 to 2021 Model Y vehicles, because a communication error with the software may cause unexpected activation of the emergency brake system, according to a notice filed with the National Highway Traffic Safety Administration. The technology-centric Nasdaq added +0.34%. Nikkei reported that Apple Inc (up +0.71%) has cut back production of iPad tablets to allocate more components to the iPhone 13 amid signs that the global chip supply crunch may be hitting the company harder than previously indicated. Chipmaker Nvidia Corp rose +2.22% to usurp Warren Buffet’s investment vehicle Berkshire Hathaway Inc (up 0.59%) as the seventh largest US company by market capitalisation (with its market cap rising to ~US$660B). Nvidia has gained almost US$530B in market value off its pandemic low set 16 March, 2020, according to Dow Jones Market Data. It marked the first time since December 2019 that all three benchmark indices logged record closing highs for three straight sessions, according to Dow Jones Market Data. The small capitalisation Russell 2000 edged +0.16% higher to an all time high of 2,361.86. Bed Bath & Beyond Inc skyrocketed over >75% in the extended session after the retailer announced a partnership to have some of its “most sought-after” baby and home items available at Kroger Co.’s (+0.62%) stores and on-line and said it was ahead of its share buyback schedule.