US equity markets - Dow up +179-points or +0.52% . The broader S&P500 gained +0.88%. Both the Dow and S&P500 settled within 0.1% of record highs. The Nasdaq rallied +1.47%. Apple Inc rose +1.9% ahead of the technology giant’s Worldwide Developers Conference (WWDC), which starts tonight AEST. Microsoft Corp rose +2.07%. The small capitalisation Russell 2000 added +0.31%.

US equity markets settled with modest gains as investors eye Friday night’s AEST (5 June) key non-farm payrolls report for May - Dow added +25-points or +0.07%, recording its fifth consecutive session advance and settling ~1.4% shy of its record all-time high. The broader S&P500 edged +0.14% higher, with Energy (up +1.74%) and Real Estate (+1.41%) leading six of the eleven primary sectors higher. Materials (down -0.94%) was the worst performing primary sector overnight. Tesla Inc fell -3.01% after electric car maker said it is recalling nearly 6,000 vehicles over concerns that their brake caliper bolts might loosen, which could potentially result in a loss of tire pressure. Tesla was also reportedly told by the Securities and Exchange Commission that it had failed to properly approve tweets by Chief Executive Officer (CEO) Elon Musk. The technology-centric Nasdaq also added +0.14%. Microsoft Corp (down -0.04%) announced that it will unveil “the next generation of Windows” on 24 June. Windows, the dominant operating system for personal computers, is the source of ~14% of total revenue for Microsoft. The small capitalisation Russell 2000 edged +0.13% higher. In merger and acquisition (M&A) news, Etsy Inc gained +7.15% after announcing it is buying London-based privately held fashion marketplace Depop for US$1.625B.

•US equity markets settled with modest gains as investors eye Friday night’s AEST (5 June) key non-farm payrolls report for May - Dow added +25-points or +0.07%, recording its fifth consecutive session advance and settling ~1.4% shy of its record all-time high. The broader S&P500 edged +0.14% higher, with Energy (up +1.74%) and Real Estate (+1.41%) leading six of the eleven primary sectors higher. Materials (down -0.94%) was the worst performing primary sector overnight. Tesla Inc fell -3.01% after electric car maker said it is recalling nearly 6,000 vehicles over concerns that their brake caliper bolts might loosen, which could potentially result in a loss of tire pressure. Tesla was also reportedly told by the Securities and Exchange Commission that it had failed to properly approve tweets by Chief Executive Officer (CEO) Elon Musk. The technology-centric Nasdaq also added +0.14%. Microsoft Corp (down -0.04%) announced that it will unveil “the next generation of Windows” on 24 June. Windows, the dominant operating system for personal computers, is the source of ~14% of total revenue for Microsoft. The small capitalisation Russell 2000 edged +0.13% higher. In merger and acquisition (M&A) news, Etsy Inc gained +7.15% after announcing it is buying London-based privately held fashion marketplace Depop for US$1.625B.

US equity markets mixed after resuming trading following the Memorial Day long weekend, with investors continuing to monitor inflation signals - Dow added +46-points or +0.13%, paring an opening gain of as much as 300-points but logging a fourth straight session of gains. The broader S&P500 dipped -0.05% despite a +3.93% jump for the Energy sector, and with the S&P 500 Financial sector (+0.66%) hitting a record high. Health Care (down -1.64%) and Utilities (-0.62%) were the worst performing primary sectors. American Airlines Group Inc and United Airlines gained +1.77% and +2.26%, respectively, after the Transportation Security Administration said it screened an average of 1.78M people from Friday through Monday, well above the volumes one year ago and another sign that U.S. air travel has reached a pandemic-era high. Those volumes are more than six times higher than a year ago but still 22% below Memorial Day weekend in 2019. Abbott Laboratories fell -8.3% after the company cut its full-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. The Nasdaq slipped -0.09%. The small capitalisation Russell 2000 rose +1.14%. In merger and acquisition (M&A) news, Cloudera Inc jumped +23.9% after private equity firms KKR & Co and Clayton Dubilier & Rice LLC agreed to take the data analytics firm private for US$4.7B (or US$16 per share).

US equity markets were CLOSED overnight for the Memorial Day Holiday.In US economic data, the Institute of Supply Management’s (ISM) Manufacturing purchasing manager’s index (PMI) for May, a final reading of the Markit Manufacturing PMI for May, and Construction Spending for April are released tonight AEST.

US equity markets advanced ahead of the Memorial Day long week end, shrugging off the latest rise in inflation - Dow up +65-points or +0.19% . Boeing Co fell -1.47% after the Wall Street Journal reported that the aeronautics company halted deliveries of its 787 Dreamliners, adding fresh delays for customers. The broader S&P500 edged +0.08% higher , with Real Estate (up +0.64%) and Utilities (+0.46%) leading seven of the eleven primary sectors higher. The Nasdaq settled +0.09% higher. The small capitalisation Russell 2000 slipped -0.18%. US equity and bond markets are CLOSED tonight AEST for the Memorial Day holiday.

US equity markets advanced in relatively subdued trading ahead of the Memorial Day long weekend - Dow up -142-points or +0.41% . Boeing Co rose +3.87%. The broader S&P500 edged +0.12% higher, with Industrials (up +1.37%) and Financials (+1.19%) both up over >1% to lead six of the eleven primary sectors higher. Boeing supplier General Electric Co rose +7.09%. The technology-centric Nasdaq dipped -0.01%. The small capitalisation Russell 2000 rose +1.06%, its eighth consecutive session advance and longest such winning streak since 1995.

US equity markets settled modestly higher in light volume trade ahead of the Memorial Day long weekend - Dow inched +11-points or +0.03% higher . The overnight session marked the 125th anniversary of the Dow Jones Industrial Average, which made its debut 26 May, 1896 with just 12 members. The indice’s best year occurred in 1915 when the benchmark rallied +81.7%, while 1931 marked its worst year with a -52.7% loss. The broader S&P500 edged +0.19% higher, with Energy (+0.93%) and Consumer Discretionary (+0.90%) leading eight of the eleven primary sectors higher. Healthcare (down -0.56%) was the worst performing primary sector. Ford Motor Co rallied +8.4% after the vehicle maker said it planned to spend US$30B on vehicle electrification by 2025, up from a previously stated goal of US$22B in electric vehicle spending. Cruise operators continued to trade strongly, with Carnival Corp up +2.76% and Royal Caribbean Cruises Ltd +3.92%. A tiny hedge fund - Engine No. 1 - dealt a major blow to Exxon Mobil Corp overnight, unseating at least two board members as part of a heated Environmental, Social and Corporate Governance (ESG) battle. Eight of Exxon’s nominees were elected to its 12-member board of directors, along with two of Engine No. 1’s nominees, the company said. The counting is not finished, so Engine No. 1 could potentially see three of its four nominees join the Exxon board. The Nasdaq rose +0.59%. Amazon.com Inc (up +0.19%) agreed to acquire privately owned MGM Holdings for ~US$8.45B, confirming months long speculation and marking the latest in a steady stream of consolidation in the movie and television content business. The small capitalisation Russell 2000 jumped +1.97%.

US equity markets logged modest falls, erasing earlier gains in a session absent any major catalysts - Dow fell -82-points or -0.24%, unwinding an earlier gain of over >100-points and snapping a three-session winning streak. The broader S&P500 lost -0.21% , with Energy (down -2.04%) leading six of the eleven primary sectors lower. United Airlines Holdings Inc rose +1.5% after the carrier said yields on domestic leisure tickets purchased this month topped 2019 levels amid the re-opening.The Nasdaq dipped -0.03%. Amazon.com Inc added +0.43% despite Washington, D.C., Attorney General Karl Racine said he’s suing the e-commerce giant on antitrust grounds. He alleged Amazon’s practices have unfairly raised prices for consumers and suppressed innovation. The small capitalisation Russell 2000 lost -0.97%. Moderna Inc rose +3.10% after the company said a new study showed its COVID-19 vaccine was effective in children aged 12 to 17, a finding that could clear the way for a second-shot for use in adolescents.

Technology stocks fuelled a fresh rally for US equity markets - Dow up +186-points or +0.54%, logging a third straight session climb albeit paring an earlier climb of ~265-points or +0.77%. 22 of the Dow’s 30 components advancing. The broader S&P500 gained +0.99%, with Communication Services (up +1.84%) and Information Technology (+1.76%) leading ten of the eleven primary sectors higher. MGM Resorts International (up +5.14%) was the leading S&P500 constituent, with ~83% of the index’s stocks advancing. Norwegian Cruise Line Holdings Ltd gained +4.70% after announcing that it will resume cruises to Alaska from Seattle starting 7 August. Cruise operating peer Carnival Corp rose +2.69%. Airlines also posted solid gains, with American Airlines Group Inc up +1.86%% and United Airlines Holdings Inc +1.52%. The Nasdaq rallied +1.41%, with Google parent Alphabet Inc (up +2.63%), Facebook Inc (+2.66%) and Microsoft Corp (+2.29%) all gaining over >2%. Amazon.com Inc rose +1.31% amid reports that the company is nearing a deal to acquire MGM Studios for between US$8.5B and US$9B. The deal is expected to be announced as soon tonight AEST. It would mark Amazon’s biggest acquisition since it bought Whole Foods in 2017 for US$13.7b. The small capitalisation Russell 2000 rose +0.54%. Square Inc rose +5.47% in afternoon trading after Bloomberg News reported the payments company could offer savings and checking accounts in the near future.

US equity markets closed out another volatile week on a mixed note - Dow gained +124-points or -0.36%. Boeing Co gained +3.1% after industry sources said the planemaker had drawn up preliminary plans to increase 737 MAX output to as many as 3 jets per month in 2022. Construction and mining equipment manufacturer Caterpillar Inc (up +0.96%) and investment banks Goldman Sachs Group Inc (+1.80%) and JPMorgan Chase & Co (+1.14%) also traded strongly. The broader S&P500 slipped -0.08% Consumer Discretionary (down -0.59%) and Information Technology (-0.52%) both down over >0.5% to lead six of the eleven primary sectors lower. Financials (up +0.9%) was the leading primary sector performer. Ford Motor Co jumped +6.73% after announcing plans late last Thursday (20 May) to form a battery joint venture un the US with South Korean battery manufacturer SK Innovation to support its electric vehicle rollout. The Nasdaq -0.48%. NVIDIA Corp rose +2.6% after the chipmaker announced a four-for-one stock split. Since the company’s last share spilt (3-for-2) in 2007, NVIDIA shares have rallied 1,640.7% as the company cemented its essential position in the realm of artificial intelligence. Shareholders will vote on the proposed split at the company’s annual meeting on 3 June, with the stock trading on a split-adjusted basis beginning on 20 July if the resolution is passed. J.P. Morgan kicks off its three-day virtual Global Technology, Media, and Communications conference tonight AEST, featuring companies in sectors such as hardware, semiconductors, and media. The small capitalisation Russell 2000 +0.34%.

U.S. stocks rose on Thursday, rebounding from three straight days of losses as technology shares staged a comeback, while the latest jobless claims totalling a fresh pandemic-era low also boosted sentiment. The Dow Jones rose +188 points, or +0.6%. The S&P 500 gained nearly +1.1% with tech being the biggest gainer among 11 sectors. The Nasdaq climbed +1.8% as Microsoft, Facebook and Alphabet all gained more than 1%. Netflix and Apple rallied more than 2% each. Tesla, chip stocks and other speculative parts of the market, which took a big hit in the previous session, bounced back on Thursday amid a recovery in bitcoin prices.

US equity markets booked a third straight session of declines although pared losses in the final hour of trading, with the latest Federal Reserve monetary policy meeting minutes underscoring an emerging debate at the central bank over inflation risks and when to start discussing a pullback of its asset purchases - Dow fell -165-points or -0.48%, having been down as much as -586-points at the lows of the session. The broader S&P500 lost -0.29%, with Energy (down -2.52%) and Materials (-1.54%) leading nine of the eleven primary sectors lower. Information Technology (up +0.33%) and Communication Services (+0.10%) were the only primary sectors to advance. Dominos Pizza Inc fell ~0.9% in extended trading after announcing that Chief Financial Officer (CFO) Stuart A. Levy will be leaving the company "to pursue other opportunities" . Mr Levy is stepping down as CFO immediately but will continue with Domino's through the end of August as an adviser to ensure a smooth transition. Southwest Airlines Co lost -2.71% despite disclosing that April operating revenue and load factor were in line with expectations, and said it continues to see improvement in leisure passenger demand and bookings for May and June travel. The technology-centric Nasdaq dipped -0.03%, paring an earlier decline of over >1.7%. The small capitalisation Russell 2000 lost -0.78%.

US equity markets weaker, with technology stock turning lower late in the session - Dow fell -267-points or -0.78% . The broader S&P500 lost -0.85% with Energy (down -2.63%) leading nine of the eleven primary sectors lower. The Nasdaq -0.56% . Amazon.com Inc fell -1.17% following reports that the company is in discussions to acquire MGM Holdings Inc for ~US$9B. Apple Inc (down -1.12%) had previously been rumoured to have been interested in buying MGM, which started formally seeking a sale last year. The small capitalisation Russell 2000 %.

US equity markets eased as inflation concerns persist - Dow eased -54-points or -0.16% . The broader S&P500 lost -0.25%, with Communication Services (down -0.88%), Utilities (-0.86%) and Information Technology (0.70%) leading eight of the eleven primary sectors lower. Energy (up +2.30%) was the clear outperformer. Tesla Inc fell -2.19%, with famed investor Michael Burry – who made a fortune betting against mortgage securities before the 2008 global financial crisis - revealing a short position against the electric vehicle maker of 800,100 shares or ~US$534M in a regulatory filing. AT&T Inc fell -2.7% (after hitting a record intra-day high of US$33.88 earlier in the session) after confirming weekend press speculation that it will merge its content unit WarnerMedia with rival Discovery Inc (down -5.05%) in a deal to create a media giant with an enterprise value of US$150B. United Airlines Holdings Inc rose +2.33% after announcing that it is adding more than 400 daily flights to its July schedule and will increase its service to destinations in Europe, as booking for summer travel had more than tripled (up +214%) compared with 2020 levels The technology-centric Nasdaq lost -0.38%, paring an earlier decline of over >1.2%. Microsoft Corp lost -1.2% and Apple Inc -0.93%. The small capitalisation Russell 2000 edged +0.11% higher. In broader stock moves, Airbnb Inc dropped -6.16% as its post initial public offering (IPO) lockup period ends, allowing insiders the right to sell shares.

US equity markets ended a tough week punctuated by inflation concerns on a positive note, with investors shrugging off a weak April retail sales report - Dow gained +361-points or +1.06% . The broader S&P500 +1.49%, with ~89% of index’s components advancing. Energy (up +3.16%) and Information Technology (+2.12%) led all eleven primary sectors higher. Stocks most exposed to the ongoing recovery traded strongly, buoyed by the Centers for Disease Control and Prevention updating its guidance around masks for people who are fully vaccinated late last Thursday (13 May), saying they no longer need to wear a mask or socially distance "in any setting" except when required by laws or rules. United Airlines Holdings Inc (up +5.44%) and American Airlines Group Inc (+5.61%) both climbed more than 5%, while cruise operators Carnival Corp (up +8.28%) and Norwegian Cruise Line Holdings Ltd (+8.09%) both jumped over >8%. CNBC reported over the weekend that AT&T Inc is in advanced talks to merge its content unit WarnerMedia with rival Discovery in a deal to create a media giant with an enterprise value of US$150B that will strengthen the combined company against rival media giants Netflix Inc and Walt Disney Co (down -2.60%), citing people familiar with the matter. The technology-centric Nasdaq gained +2.32%. Facebook Inc rose +3.5%, while Google parent Alphabet Inc (up +2.21%) and Microsoft Corp (+2.11%) both climbed over >2%. Apple Inc (up +1.98%), Amazon.com Inc (+1.94%) and Netflix Inc (+1.38%) all gained over >1%. The small capitalisation Russell 2000 gained +2.47%.

•US equity markets rebounded despite another robust inflation report - Dow up +434-points or +1.29%, snapping a three session losing streak and logging its biggest single session percentage rise in almost two months. Boeing Co rose +0.84% after the The Wall Street Journal reported that that the aviation company had received approval from U.S. air-safety regulators to make fixes to an electrical problem that has grounded more than 100 of its 737 MAX jets, citing the company and a Federal Aviation Administration official, paving the way for airlines to return them to passenger service within days. The broader S&P500 +1.22%, with Industrials (up +1.90%) and Financials (+1.87%) leading ten of the eleven primary sectors higher. Energy (down -1.35%) was the only sector to close in the red. Tesla Inc lost -3.09% and the electric vehicle company has posted declines in 11 of the last 13 trading sessions and is on track to post its worst week since March 2020, with a week-to-date loss of -14.97%. The Nasdaq +0.72% higher, with Apple Inc (up +1.79%) and Microsoft Corp (+1.69%) both rebounding over >1.5%. The small capitalisation Russell 2000 rose +1.68%.

Inflation concerns hobbled US equity markets overnight although technology stocks stabilised after steep falls in the previous session - Dow down -474-points or -1.36%, logging its worst single session performance since 26 February. Travelers Companies Inc (down -3.08%) and Home Depot Inc (-3.07%) led the index declines. The broader S&P500 lost -0.87%, with Energy (down -2.56%) and Financials (-1.67%) leading ten of the eleven primary sectors lower. Materials (up +0.35%) was the only primary sector to advance. Tesla Inc fell -1.88% (paring an earlier decline of over >5.5%) after the electric vehicle maker’s April sales in China fell sharply from March, more so than its rivals amid negative public relations issues. Tesla sold 25,845 vehicles made in China in April. Although that was up from January sales of 15,484 vehicles and February sales of 18,318 vehicles, April sales were down -27% from March, according to industry data. Overall April electric vehicle sales in China fell 12% from March. L Brands Inc fell -1.8% after announcing plans to separate Victoria’s Secret and Bath & Body Works into two publicly traded companies through a tax-free spinoff that should be completed in August 2021. The Nasdaq dipped -0.09% to 13,389.43 after dropping to a six-week intra-day low of 13,107.67 (down ~2.2%)earlier in the session. A number of big technology names rebounded in in the afternoon session, including Netflix Inc which recovered from an earlier decline of as much as -1.7% to a six-month low to settle +1.72% higher. All of Amazon.com Inc (up +1.05%), Apple Inc (-0.74%) and Google parent Alphabet Inc (-1.40%) cut earlier session losses significantly. The small capitalisation Russell 2000 eased -0.26%.

Fresh record highs for both the Dow and S&P500 to end the week after a soft April jobs report alleviated some concerns around inflation and potentially higher U.S. interest rates - Dow up +229-points or +0.66% to log another record closing high (34,777.76). The broader S&P500 +0.74% to a record closing high of 4,232.60. Energy (up +1.89%), Real Estate (+1.21%) and Industrials (+1.05%) all rose over >1% to lead all eleven primary sectors higher. Both the S&P500 Energy and Materials sectors hit fresh record highs. The Nasdaq +0.88% higher. The small capitalisation Russell 2000 rose +1.35%.

US equity markets retreated on the final trading day April - Dow fell -186-points or -0.54% . The broader S&P500 lost -0.72% to 4,181.17, pulling back from the previous session’s record closing high (4,211.47). General Electric Co (down -.70%) disclosed on Friday (30 April) that it sold off more of its holding in oilfield services firm Baker Hughes Co (-2.2%), likely raising nearly US$1B. The Nasdaq -0.85%. Amazon.com Inc slipped -0.11% Apple Inc fell -% after European regulators accused the company of abusing its dominant position in the music-streaming market by imposing restrictive rules on the App Store. The statement followed a complaint made by music streaming service Spotify Inc in 2019 about Apple’s license agreements. The small capitalisation Russell 2000 fell -1.26%.

Another round of upbeat quarterly earnings from technology heavyweights and a surge in first quarter gross domestic product (GDP) growth lifted the S&P500 to fresh record closing high - Dow gained +240-points or +0.71% . The broader S&P500 rose +0.68% to a record settlement of 4,211.47, also hitting a fresh record intra-day peak (4,218.78). Communication Services (up +2.75%) and Financials (+1.82%) led nine of the eleven primary sectors higher. Health Care (down -0.46%) and Information Technology (-0.03%) were the only sectors not to advance. Ford Motor Co tumbled -9.41% despite announcing after the close of the previous session that it had swung to a profit in the first quarter and maintained its full year pre-tax profit guidance, with the automaker warning that it expected to lose half of its second-quarter production due to the global semiconductor shortage. Elsewhere, the Centers for Disease Control and Prevention said cruise ships might be able to resume sailings as early as mid-July. Carnival Corp fell -2.12%. The Nasdaq edged +0.22% higher, hitting a fresh record intra-day high of 14,211.57. Facebook Inc jumped +7.30% after posting a strong first quarter result after the close of the previous session Apple Inc dipped -0.07% despite posting a better-than-expected March quarter result all of its product categories after the close of the previous session that saw the company boost it buyback programme by US$90B and lift its dividend by +7%. The small capitalisation Russell 2000 lost -0.38%.

US equity markets retreated as investors parsed the latest monetary policy pronouncements from the Federal Reserve and a host of notable corporate earnings releases - Dow fell -165-points or -0.48% . Visa Inc rose +1.5% after the financial services giant’s better-than-expected fiscal second quarter numbers after the close of the previous session. The broader S&P500 dipped -0.08% after recording a fresh record intra-day high (4,181.78), with the Information Technology sector (down -0.96%) offsetting strong gains for the Energy sector (up +3.35%). The Nasdaq eased -0.28%. Microsoft Corp (down -2.83%) and Advanced Micro Devices (-1.40%) both retreated despite logging solid quarterly results after the close of the previous session. However, Google parent Alphabet Inc rose +3.16% after the company’s better-than-expected first quarter numbers and US$50B share buyback announcement after the closing bell of Tuesday’s (28 April) session. The small capitalisation Russell 2000 inched +0.13% higher. In merger and acquisition (M&A) news, Verizon Communications Inc is reportedly exploring a sale of assets including Yahoo and AOL, as the telecommunications giant looks to exit an expensive and unsuccessful bet on digital media. The sales process, which includes private-equity firm Apollo Global Management Inc could lead to a deal worth US$4B to US$5B, according to people familiar with the matter.

US equity markets settled little changed as investors braced for quarterly earnings releases from the technology heavyweights - Dow inched +4-points higher . The broader S&P500 dipped -0.02%. Utilities (down -0.75%) led eight of the eleven primary sectors lower. Energy (up +1.26%), Financials (+0.91%) and Industrials (+0.87%) all advanced. FedEx Corp rose +4.3%, buoyed by the strong first quarter result from listed peer United Parcel Service (UPS) Inc. The Nasdaq eased -0.34%. The small capitalisation Russell 2000 edged +0.14% higher.

Both the S&P500 and Nasdaq advanced to log fresh record closing highs US equity markets - Dow fell -62-points or -0.18% . Procter & Gamble Co (down -2.00%), Walmart Inc (-1.42%) and Coca Cola Co (-1.49%) were notable drags on the index. The broader S&P500 edged +0.18% higher to a record settlement of 4,187.62. Energy (up +0.64%) and Consumer Discretionary (0.62%) both gained over +0.6% to lead seven of the eleven primary sectors higher. Consumer Staples (down -1.16% ) was the worst performing sector, with traders noting concerns around surging commodity prices, with corn futures hitting their highest level in more than seven years and copper prices at the highest level in almost a decade. The Nasdaq gained +0.87% to log its first record closing high since 12 February of 14,138.78 and confirming the end of an 11% correction for the technology-centric index that began after its previous record high close and record its most recent low on 8 March. Apple Inc (up +0.30%) announced that it has “accelerated” its investments in the U.S. – intending to make new investments of US$430B over 5-years, marking a +20% increase on a US$350B commitment made in 2018 - and plans to build a new campus in North Carolina. The company’s “$430 billion in contributions to the US economy include direct spend with American suppliers, data centre investments, capital expenditures in the U.S., and other domestic spend.” The small capitalisation Russell 2000 gained +1.15%.

US equity markets rebounded after a turbulent session last Thursday (22 April) following reports that President Joe Biden is slated to propose much higher capital gains taxes for wealthy Americans – Dow gained +228-points or +0.67% . Investment banks Goldman Sachs Group Inc (up +2.57%) and JPMorgan Chase & Co (+1.91%) were both notable performers. The broader S&P500 1.09% to 4,180.17, trading above its 16 April record closing high of 4,185.47 during Friday’s (23 April) afternoon session and setting a fresh intra-day peak of 4,194.17. Financials (up +1.85%) and Materials (+1.68%) both rose over >1.5% to lead nine of the eleven primary sectors higher. Utilities (down -0.17%) and Consumer Staples (-0.16%) were the only sectors to close in the red. The technology-centric Nasdaq gained +1.44%. The small capitalisation Russell 2000 index rose +1.76%. President Biden will address a joint session of Congress on Wednesday night AEST (28 April) and is expected to detail his “American Families Plan” and the tax increases to pay for it.

US equity markets retreated following a Bloomberg report that the Biden administration is planning a capital gains tax hike to as high as 43.4% for wealthy Americans – Dow fell -321-points or -0.94%, logging its largest single session point and percentage decline since 4 March despite paring an earlier decline of as much as -420-points. The broader S&P500 fell -38-points or 0.92%, booking its largest single session point and percentage decline since 18 March. Materials (down -1.75%) and Energy (-1.41%) lead all eleven primary sectors lower. The technology-centric Nasdaq shed -0.94%. The small capitalisation Russell 2000 index -0.31%. In merger and acquisition news (M&A), Skyworks Solutions Inc rose over >4.5% in extended trading after the semiconductor manufacturer announced it will acquire the infrastructure and automotive business of Silicon Laboratories Inc (up ~14% in after hours trading) for US$2.75B.

US equity markets arrested a two session slide as the ‘re-opening trade’ regained its footing – Dow rose +316-points or +0.93% 34,137.31, logging its second highest close ever as 26 of the 30 index components advanced. The S&P500 gained +0.93% amid a broad-based rally that saw ~82% of the index constituents advance. Materials (up +1.87%), Energy (+1.48%) and Financials (+1.39%) led nine of the eleven primary sectors higher. Utilities (down -0.90%) and Communication Services (-.28%) were the only two sectors to close in the red. Norwegian Cruise Line Holdings jumped +10.32%, buoyed by an upgrade from Goldman Sachs (with the investment bank citing the company’s capacity growth and low leverage compared to its peers). Fellow cruise operator Carnival Corp gained +6.3%. United Airlines Holdings Inc rebounded +3% after dropping -8.53% in the previous session after the carrier recorded its fifth consecutive quarterly loss. The technology-centric Nasdaq +1.19%, recording its largest single session percentage climb since 15 April. Netflix Inc dropped -7.40% after the streaming giant reported subscriber additions that fell far short of Wall Street estimates after the close of the previous session. The Russell 2000 index rallied +2.35%, marking the small capitalisation indice’s best single session performance since 1 March.

US equity markets fell for a second consecutive session, shrugging off some solid corporate earnings releases and with re-opening plays such as airlines and cruise line operators led losses – Dow down -256-points or -0.75% , with Boeing Co (down -%) and Nike Inc (-%) both dropping more than >4%. International Business Machines (IBM) Corp rose over +3.79% after posting better-than-expected first quarter earnings per share (EPS) and revenue after the closing bell of the previous session. The broader S&P 500 lost -0.68%, with Energy (down -2.66%) leading seven of the eleven primary sectors lower. The more defensive Utilities (up+1.32%) and Real Estate (+1.12%) both advanced over >1%. United Airlines Holdings Inc fell -8.53% after the carrier recorded its fifth consecutive quarterly loss after the close of the previous session. American Airlines Group Inc fell -5.48%, while cruise operators Carnival Corp (down -4.35%) and Norwegian Cruise Line Holdings (-4.36%) both fell over >4%. The Nasdaq -0.92% Apple Inc (down -1.28%) launched a new iMac and iPad with its M1 chips at a spring event overnight. The small capitalisation Russell 2000 index fell -1.96%. In merger and acquisition (M&A) news, Kansas City Southern soared +15.25% after The Wall Street Journal reported that Canadian National Railway Co (-6.76%) was planning to make a buyout bid for the railroad operator of ~US$30B, which would top Canadian Pacific Railway Ltd.’s previously agreed on buyout bid.•In US corporate earnings, Netflix Inc dropped over >8% in extended trading after the streaming video company posted disappointing subscriber growth for the March quarter. For the period, Netflix added 4M net new subscribers, falling well short of the company’s guidance target of 6M, while the company sees just 1M net additions in the June quarter. Netflix finished March with 208M subscribers, up 14% from a year ago. For the March quarter, Netflix reported revenue of up 24% from a year ago to US$7.16B and slightly ahead of the company’s projection of US$7.1B. Profits were US$3.75 per share, ahead of the company’s estimate of US$2.97 a share. Netflix forecast June quarter revenue of US$7.3B, just below the current Wall Street consensus at US$7.4B, with profits of US$3.16 per share (above the current consensus analyst estimate at US$2.69 per share). Railroad operator CSX Corp fell over >1.5% in after hours trading after reporting that first quarter revenue fell -1% to US$2.81B (versus consensus forecasts for US$2.79B), citing “difficult operating conditions”. Net income fell more than >% to US$706M or US$0.93c versus consensus analyst estimates for US$0.93c. President and chief executive James Foote noted that “the strengthening economic momentum is providing added visibility into volume growth. Johnson & Johnson rose +2.33% after reporting first-quarter profit and sales that topped expectations, citing strength in its pharmaceutical business and continued recovery in medical devices. The company also reported US$100M in first-quarter sales of its COVID-19 vaccine that’s on hold in the U.S. while health regulators investigate a rare blood-clotting issue. Abbott Laboratories fell -3.6% despite exceeding earnings expectations during a quarter in which sales of its COVID-19 tests made up 20% of total revenue. Consumer staples group and Dow constituent Procter & Gamble Co settled +0.83% higher after posting better-than-expected third quarter earnings and flagged that it would be raising prices on certain product categories. Fellow Dow component Travelers Companies Inc rose +0.87% after posting quarterly figures that topped consensus forecasts, raised its cash dividend and approved an additional US$5B of share buybacks. Aerospace and defence giant Lockheed Martin Corp fell -1.12% despite exceeding consensus first quarter earnings per share (EPS) estimates by 4%. Philip Morris International gained +2.54% after the tobacco group reported better-than-expected first-quarter profit and revenue. Baker Hughes Co, Chipotle Mexican Grill Inc, Haliburton, Lam Research Corp and Verizon Communications Inc are among companies slated to report tonight AEST. •The Travel and Leisure and Banking sectors both dropped -3.7% to lead all major sectors and major European bourses lower, leaving the benchmark pan-European Stoxx 600 index (which includes UK equities) nursing a -1.90% decline. Germany's DAX fell -1.55% . Bayerische Motoren Werke (BMW) AG fell -3.36% . France's CAC -2.09%. French food group Danone SA fell -1.8% after posting a -3.3% fall in first-quarter sales but maintained its goal of returning to profitable growth in the second half of the year Interim co-Chief Executives Veronique Penchienati-Bosetta and Shane Grant said that the company “continue to expect a return to like-for-like sales growth in the second quarter, and to profitable growth in the second half of 2021". French car parts maker Faurecia rose 1% after first-quarter sales beat market expectations, underpinned by strong growth in China. In broader stock moves, Austrian chipmaker ams AG tumbled 13.26% after a media report that it lost some business from Apple Inc. Sandvik AB (down -2.56%) said that order intake increased organically in the first quarter by +12% to SEK 25,847M (~US$2.97B) "...driven by strong momentum in mining and continued improvement in short-cycle businesses." Sandvik runs a mining equipment business, alongside machine tooling and materials technology business. Mining accounts for 40% of the company's revenues. "We continued to see strong momentum in mining with accelerating demand for our equipment, parts and services. The order intake level for Sandvik Mining and Rock Solutions was at an all-time high, driven by organic growth of +36% year on year," said Sandvik Chief Executive Officer (CEO) Stefan Widing in a news release. The European Medicines Agency said its safety committee concluded that a warning about unusual blood clots with low blood platelets should be added to the product information for Johnson & Johnson’s coronavirus vaccine, but said the benefits outweighed the risk. In economic data, the German producer price index (PPI) for March•London's FTSE 100 shed -2.00%. Associated British Foods Plc fell -5.93% after adjusted operating profit almost halved from the same period last year. Rio Tinto Plc fell -2.2% following the iron ore major’s first quarter operations review. In economic data, labor market data for March recorded that UK unemployment rate unexpectedly declined for a second consecutive month to 4.9% despite tight nationwide COVID-19 lockdown measures. Consumer price inflation (CPI) and producer price inflation (PPI) figures for March are released tonight AEST. •Base metals weaker across-the-board – copper lost -0.53% to ~US$4.23/lb after rising as much as +1.1% to US$9,483 per tonne or ~US$4.30/lb earlier in the session, and flirting with the US$9,617 per tonne level hit in February (which was its highest since August 2011). The most-traded June copper contract on the Shanghai Futures Exchange rose as high as ¥69,750 yuan (~US$10,737) per tonne, not far from its February peak of ¥71,080 per tonne (which was its highest since March 2011) before settling +1.1% higher at ¥69,450 per tonne. Elsewhere, nickel fell -0.84%, aluminium -0.80% and zinc -1.46%. The People’s Bank of China (PBoC) yesterday (20 April) left their benchmark one year loan prime rate (LPR) unchanged for a twelfth consecutive month at 3.85% as widely expected (while the five-year rate also remained steady at 4.65%). •Benchmark spot iron ore (62% fines) jumped +US$7.81c or +4.30% to US$189.61mt . China’s most traded iron ore futures contract (September delivery) rose over >4% yesterday (20 April) to hit a new record high of ¥119.05. The World Steel Association released its Short Range Outlook for 2021 and 2022 yesterday (20 April) and forecasts that steel demand will grow by 5.8% in 2021 to reach 1,8740.0M tonnes, after declining -0.2% in 2020. The association forecasts steel demand to see further growth of 2.7% to 1,924.6M tonnes in 2022.•Gold futures (June delivery) added +US$7.80 or +0.4% to US$1,778.40/oz, reversing an earlier decline as US Treasury yields receded. Silver futures (May delivery) unchanged at US$25.84/oz. •Oil prices retreated as record cases of COVID-19 in India (the world’s third-largest importer of oil) dimmed the outlook for the nation’s economy and energy demand, while there was apparent progress in the Iran’s nuclear deal negotiations - WTI fell -US$0.94c or -1.5% to US$62.44/barrel, with the May contract expiring at the conclusion of the session. Last night’s session marked the one-year anniversary of a negative price close for the front-month WTI crude futures contract. On 20 April, 2020 the May WTI crude plummeted -306% or -US$55.90, to settle at negative -US$37.63/barrel. The new front month June WTI contract fell -US$0.76c or -1.2% to US$62.67/barrel. Brent shed -US$0.48c or -0.7% to US$66.57/barrel. India’s Prime Minister Narendra Modi held an address to the nation on Tuesday (20 April), ruling out a nationwide lockdown as a measure to curb the pandemic and urging states to ensure that lockdowns are only chosen as the last resort, according to the Hindustan Times. Elsewhere, Bloomberg reported that Iran’s President Hassan Rouhani said negotiations toward a nuclear deal were 60% to 70% complete. Meanwhile, the U.S. House Judiciary Committee’s move on the No Oil Producing and Exporting Cartels Act of 2021, known as NOPEC, called attention to long-running efforts to by the U.S. to make it illegal for the Organisation of Petroleum Exporting Countries (OPEC) to manipulate oil prices. The NOPEC bill would make it illegal for any foreign state to act collectively to limit oil production or set prices. After the markets’ close, the American Petroleum Institute (API) released their latest weekly inventory data, recording a +436K barrel increase in US crude stoc

US equity markets retreated from record highs amid fresh falls for the technology sector – Dow eased -123-points or -0.36%, snapping a three session inning streak that carried to index to multiple record closing highs. The broader S&P500 -0.53%, pulling back from a record closing high (4,185.47). Consumer Discretionary (down -1.14%) led ten of the eleven primary sectors lower. Real Estate (up +0.29%) was the only primary sector to advance. Tesla Inc fell -3.40% ollowing a fatal crash in Spring, Texas, over the weekend. Chief Executive Officer (CEO) Elon Musk tweeted a denial that his company’s automated driving systems were involved. The Nasdaq -0.9%, retreating for the first time in three sessions. Nvidia Corp fell -3.46% after the UK government said it would look into the national security implications of Nvidia's purchase of British chip designer ARM Holdings, raising a question mark over the US$40B deal. The Competition and Markets Authority (CMA) will assess the competition, jurisdiction and national security impact of the deal, with a report due by 30 July, the government said. The small capitalisation Russell 2000 index fell -1.36%.

US equity markets booked another round of record closing highs to end the week – Dow up +165-points or +0.48% to 34,200.67 and a record closing high after crossing the 34,000 threshold for the first time in the previous session. Boeing Co fell -1.17% after the planemaker said that the potential electrical problem that prompted airlines to remove dozens of 737 MAX jets from service last week affects more areas of the aircraft's flight deck than previously known. The broader S&P500 rose +0.36% to 4,185.47. Real Estate (up +1.95%), Health Care (+1.74%), Materials (+1.18%) and Utilities (+1.11%) all rose over >1% to lead ten of the eleven of the primary sectors higher. Energy (down -0.90%) Information Technology (-0.03%) were the only primary sectors to close in the red. UBS Wealth Management increased their year end S&P 500 target to 4,400. The Nasdaq added +0.10% to 14,052.34 the second highest close ever for the technology centric index. The small capitalisation Russell 2000 index rose +0.25%. For the week, the Dow rose +1.18% and S&P500 +1.37%, with both indices logging their fourth straight weekly advance. The Nasdaq gained +1.09% to log its third straight weekly advance.

The Dow and S&P500 clinched fresh record closing highs after the latest round of economic reports continued to affirm a healthy recovery from the pandemic – Dow gained +305-points or +0.90% to 34,035.99, logging its first close above >34,000. The Dow took 20 sessions to traverse and eclipse 34,000, which marks its fourth 1,000-point milestone so far this year, already the most since 2017, which saw five such milestones, according to Dow Jones Market Data. Home Depot Inc contributed 264 points to the price-weighted Dow’s most recent +1000 point climb, with UnitedHealth Group Inc adding ~260 points and Microsoft Corp ~140 points. The broader S&P500 +1.11% to 4,170.42. The S&P Information Technology sector (up 1.79%) hit an all-time high. Energy (down 0.88%) and Financials (-0.11%) were the only primary sectors to settle lower Advanced Micro Devices was the best performing index constituent with a 5.7% gain. The Nasdaq +1.31% to settle ~0.4% below its 12 February record closing high (14,095.47). Facebook Inc (+1.65%), Amazon.com Inc (+1.38%), Apple Inc (+1.87%), Netflix Inc (+1.70%) and Alphabet Inc (+1.85%) all climbed more than >1%. The small capitalisation Russell 2000 index rose +0.42%.

A late session rally lifted both the Dow and S&P500 to fresh record closing highs last Friday (9 April) albeit it was a relatively quiet session as traders eyed the earnings season kicking off later this week – Dow gained +297-points or +0.89% to 33,800.60. The broader S&P500 +0.77% to log its third straight record closing high (4,128.80) and its 20th of 2021. The Nasdaq +0.51% . Cruise operator Carnival Corp rose+2.6%, buoyed by two broker upgrades. The small capitalisation Russell 2000 index eked out a +0.04% rise.

A mixed session on Wall Street despite some stellar first quarter results from a brace of banks to kick off the earnings season – Dow added +54-points or +0.16% to 33,730.89, settling ~0.5% below is 23 March record closing high (32,423.15). The Dow pared an earlier climb of over >200-points that lifted the index to a fresh record intra-session high (). The broader S&P500 eased -0.41% a day after logging its 21st record closing high (4,141.59) of 2021 but touched a fresh record intra-day high (4,151.69). Consumer Discretionary (down -1.17) and Information Technology (-1.1%) both fell over >1% to be the worst performing primary sectors. Energy gained +2.91% to comfortably lead the primary sector gains. Costco Wholesale Corp edged ~0.1% higher in after hours trading after lifting its dividend more than >12% to US$0.79c per share. The Nasdaq fell -0.99%. Netflix Inc (down -1.97%) and Facebook Inc (-2.24%) dropped more than >2% each, which Amazon.com Inc (-1.97%), Microsoft Corp (-1.12%) and Apple Inc (-1.79%) all dipped at least 1%. Coinbase Global Inc, the biggest U.S. cryptocurrency exchange and one of the first crypto exchanges to go public, settled at a +31.3% premium to its US$250 issue price and was briefly valued above $100B after touching a session peak of US$429. Dell Technologies Inc rallied over >8% in extended trading after announcing a plan to spin off its 80.8% stake in VMware Inc (up +2.77% in extended trading) to shareholders. Dell holders would receive 0.44 VMware shares for each Dell share held, subject to adjustment prior to close. The small capitalisation Russell 2000 index rose +0.8%.

U.S. stocks traded mostly higher on Tuesday after a March inflation report turned out not as bad as some traders feared, but the impact of a halt to the rollout of Johnson & Johnson vaccine kept optimism in check. The Dow Jones fell -68 points or -0.2%, the S&P 500 added +0.33% and locked in a new closing high. The Nasdaq, the relative outperformer, gained +1.05% as Apple and PayPal each added more than +2%. Semiconductor maker Nvidia climbed +3%, Tesla rose +8.6%.

U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings. The Dow Jones fell 55 points or -0.16%, the S&P 500 was down just -0.02%, while the Nasdaq dropped -0.36%. Wall Street has been relatively quiet with the S&P 500 moving within 1% for five sessions in a row. Market volatility has declined to pre-pandemic levels amid rising reopening optimism. Nvidia jumped +5.6% after the chip giant said its first quarter revenue for fiscal 2022 is tracking above its previously provided outlook and that it expects demand to continue to exceed supply for much of this year. The weakness in reopening plays weighed on the overall market with shares of Carnival and Norwegian Cruise Line off more than 4% each. United Airlines fell -3.9% after the carrier said its first-quarter revenue is expected to fall 66% compared with the same period in 2019.

Technology stocks lifted US equity markets as US Treasury yields continued to moderate – Dow up +57-points or +0.17% . The broader S&P500 rose +0.42% to 4,097.17, booking its 19th record closing high of 2020 after also logging a fresh record intra-day high (4,098.19). Information Technology (up +1.42%) led six of the eleven primary sectors higher. Energy (down -1.36%) was the worst performing primary sector. Overnight also marked the third straight session that the S&P500 has logged an intra-day trading range of less than1%. The small capitalisation Russell 2000 index rose +0.88%, clawing back some of the previous session’s -1.6% decline. The Russell 1000 growth index, which consists heavily of tech-related stocks, gained +1.05%. Its value counterpart, comprising mostly financials and energy names, dipped -0.05%.

US equity markets settled little changed after a listless session as the Federal Reserve released its March policy meeting minutes, which pointed to continued support for financial markets until the economy has more fully healed from the pandemic – Dow inched +16-points or +0.05% higher . The broader S&P500 edged +0.15% higher to eke out its 18th record closing high (4,079.95) of 2020. The Nasdaq dipped -0.07% despite Amazon.com Inc (up +1.72%), Apple Inc (+1.34%) and Alphabet Inc (+1.12%) all climbing more than >1%, while Facebook Inc jumped +2.3%. The small capitalisation Russell 2000 index fell -1.6%.

US equity markets settled with modest losses a day after both the Dow and S&P500 recorded fresh record closing highs – Dow eased -97-points or -0.29% a day after logging its 18th record closing high (33,527.19) of 2021. The broader S&P500 slipped -0.10% after touching a fresh record intra-day high (4,081.37), snapping a three session winning streak that lifted the index to a record closing high (4,077.91) a day earlier. Information Technology (down -0.38%) and Health Care (-0.36%) led five of the eleven primary sectors lower, while Utilities (up +0.53%) was the leading primary sector performer. Shares of airlines (Delta Air Lines up +2.8%) and cruise lines (Carnival Corp +1.74% and Norwegian Cruise Line Holdings +4.61%) continued to trade strongly. The Nasdaq dipped -0.05% after logging three straight session gains of over >1.5%. The small capitalisation Russell 2000 index lost -0.25%.

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

US equity markets concluded the month and quarter on a mostly positive note, with gains for the technology sector lifting the S&P500 to a record high – Dow down 85-points or -0.26% . Goldman Sachs Group Inc (down -1.51%) announced plans to offer access to Bitcoin and other cryptocurrencies to wealthy investors. The broader S&P500 +0.36% to 3,972.89 and a record closing high, paring gains late in the session after also touching a fresh record intra-day high (3,994.41). Information Technology (up +1.50%) led five of the elven primary sectors higher. Energy (down -0.93%) and Financials (-0.90%) were the worst performing primary sectors. The technology-centric Nasdaq rose +1.54%. Apple Inc (+1.88%), Microsoft Corp (+1.69%) and Facebook Inc (+2.27%) all gained at least 1.6%. UBS raised their recommendation on Apple Inc to a ‘Buy’, citing stable long-term demand for iPhones with better authorised service providers. The small capitalisation Russell 2000 index rose +1.13%. US equity and bond markets will be CLOSED on Friday night AEST (3 April).

US equity markets settled with modest declines in what was a largely uneventful session – Dow -104-points or -0.31% a day after logging its 17th record closing high (33,171.37) of 2021. Apple Inc (down -1.23%) and Microsoft Corp (-1.44%) were the worst performing Dow constituents. Goldman Sachs Group Inc (up +2%) and Morgan Stanley (+1.6%) advanced, with both banks moving large blocks of assets before other large banks that lent to Archegos Capital Management, as the scale of the hedge fund’s losses became apparent, according to The Wall Street Journal, helping to limit their losses amid the stock liquidation. The broader S&P500 -0.32%, with Consumer Staples (down -1.14%) and Information Technology (-0.95%) leading eight of the eleven primary sectors lower. Consumer Discretionary (up +0.75%) and Financials (+0.71%) were the leading primary sector performers. Classic re-opening plays rallied after the release of strong consumer confidence data. American Airlines Group Inc jumped +528%, United Airlines Holdings +3.58%. Carnival Corp and Norwegian Cruise Line Holdings Ltd climbed +3.98% and +3.78% respectively. Wells Fargo & Co rose +2.5% after the lender said it had a prime brokerage relationship with Archegos Capital and that it no longer had any exposure and did not experience any losses. PayPal Holdings Inc added +0.4% after the payments company said it would start letting U.S. customers purchase items with cryptocurrencies. The Nasdaq dipped -0.06%, paring an earlier decline of over >1%. The small capitalisation Russell 2000 index rebounded +1.72%.

US equity markets mixed amid concerns about the potential spill-over effects after a large investment fund was forced to liquidate massive holdings in stocks – Dow rose +98-points or +0.30%, erasing an earlier -160-point loss to log its 17th record closing high (33,171.37) of 2021. Goldman Sachs Group Inc lost -0.51%. CNBC reported that Goldman Sachs, Morgan Stanley, and Deutsche Bank facilitated the liquidation of Archegos Capital Management’s holdings in many of the Chinese internet names through unregistered trades The broader S&P500 dipped -0.09%, paring an earlier decline of as much as -0.8%. Energy (down -1.26%) and Financials (-0.93%) were the worst performing primary sectors, while Utilities (up 1.07%), Consumer Staples (+1.03%) and Communication Services (+1.02%) were the leading primary sector performers. ViacomCBS CI B (down 6.68%), Discovery Inc (-1.60%) and Baidu Inc (-1.87%) swung between losses and gains after intense selling pressure last week, with the companies among those roiled late last week by the forced liquidation of more than >$20B of positions linked to Archegos Capital Management. Southwest Airlines Co fell -0.54% after the airline placed 100 firm orders for the Boeing 737 Max 7 with the first 30 of those aircraft to be delivered in 2022. As part of an agreement with Boeing Co (up +2.31%), Southwest also converted 70 Max 8 firm orders to Max 7 firm orders and added 155 MAX options for MAX 7 or MAX 8 aircraft for years 2022 through 2029. The Nasdaq eased -0.60%. Applied Materials Inc fell -2.28% after the company said its agreement to purchase Kokusai Electric Corp was terminated because the company didn’t obtain approval for the deal by Chinese regulators in time. The small capitalisation Russell 2000 index fell -2.83%.

US equity markets rallied to cap a see-saw week for the stock market, with all three benchmark indices logging gains of over >1% – Dow rallied +453-points or +1.39% to 33,072.88, jumping more than >150-points in the final 8 minutes of the session. Boeing Co rose +% as the planemaker plans to resume delivery of its 787 Dreamliners this week The broader S&P500 +1.66% to a record closing high of 3,974.54 and extending its 2021 gains to 5.8%. Energy (up +2.62%), Information Technology (+2.54%), Materials (+2.49%) and Real Estate (+2.47%) all gained over >2% to lead ten of the eleven primary sectors higher. Communication Services (down -0.34%) was the only primary sector to close in the red. L Brands Inc rose +3.65% after the retailer raised its profit outlook for the first quarter, citing a boost from government stimulus and from loosened COVID-related restrictions. The Nasdaq rose +1.24%, erasing an earlier decline of -0.8. The small capitalisation Russell 2000 index gained +1.76%. The Russell 1000 value index, which includes energy, banks and industrial stocks, has gained more than 10% this year, outperforming its counterpart the Russell 1000 growth index, which is just above break-even for the year.

US equity markets retreated, fading in the closing hour of trading amid a fresh sell off for technology stocks – Dow dipped -3-points or -0.01%, paring an earlier climb of ~370-points. The broader S&P500 lost -0.55%, fading in the final hour of trading for a sixth straight session and unwinding an earlier gain of ~0.8%. Communication Services (down -1.66%), Consumer Discretionary (-1.52%) and Information Technology (-1.21%) all fell over >1% to be the worst performing primary sectors. The Energy sector (up +2.52%) comfortably led the upside, with Chevron Corp up +2.68% and Exxon Mobil Corp +2.03%. General Motors Co (down -0.62%) extended production cuts in North America due to a worldwide semiconductor chip shortage. Shares of cruise operators fell to session lows after Centers for Disease Control and Prevention said the sailing order limiting cruises will stay in place until 1 November. Norwegian Cruise Line Holdings Ltd dropped -4.9% following the news, while Royal Caribbean Cruises Ltd and Carnival Corp fell -2.77% and -1.89%, respectively. The Nasdaq dropped -2.01%, with Apple Inc (down -2.0%), Facebook Inc (-2.92%) and Netflix Inc (-2.67%) all slid more than >2%. The small capitalisation Russell 2000 index fell for a third straight session, down -2.40%.

US equity markets retreated, extending losses in the closing hour of trading although traders struggled to pinpoint a particular reason for the weakness – Dow down -308-points or -0.94%. Intel Corp surged over >5.5% in after-hours trading after the chipmaker announced aggressive plans to expand its manufacturing capacity to take back its leadership position in the industry. Newly installed Chief Executive Pat Gelsinger, who had spent decades at Intel focused on the engineering side of the business before moving onto Chief Operating Officer at EMC Corp and CEO of VMware Inc, laid out an ambitious roadmap to bounce back from recent manufacturing problems that surfaced last year. The broader S&P500 fell -0.76%, with Materials (down -2.10%) leading eight of the eleven primary sectors lower. Utilities (up +1.52%) was the leading primary sector performer. The technology-centric Nasdaq shed -1.12%. Microsoft Corp rose +0.67% following a report by Bloomberg News that the company is in discussions to purchase video game-focused chat platform Discord for more than >US$10B. The small capitalisation Russell 2000 index tumbled -3.58% to record its worst single-session performance since 25 February. Overnight marked the anniversary of the pandemic lows hit on 23 March 2020, when all of the major U.S. stock benchmarks put in their bear-market lows. In broader corporate news, Robinhood Markets Inc, the online brokerage at the heart of the historic retail trading frenzy that gripped Wall Street earlier this year, has confidentially submitted plans to regulators for a U.S. stock market listing, according to a Reuters report.

US equity markets climbed as technology stocks continued to stage a rebound – Dow added +103-points or +0.32% . The broader S&P500 rose 0.70%, with Information Technology (up +1.93%), Consumer Staples (+1.16%) and Real Estate (+1.11%) all up over 1% and leading seven of the eleven primary sectors higher. Financials (down -1.30%) and Energy (-1.01%) both lost over >1% to be the worst performing primary sectors. More broadly, Industrials got a boost after the New York Times reported that President Biden is eyeing an infrastructure deal of as much as US$3 trillion to boost the economy. Kansas City Southern surged +11.12% after Canadian Pacific Railway Ltd agreed to acquire the railroad operator in a US$25 billion cash-and-stock deal to create the first railway spanning the United States, Mexico and Canada. The Nasdaq rallied +1.23%, with Apple Inc (up +2.83%), Microsoft Corp (+2.45%) and Netflix Inc (+2.13%) all gained at least 2%. The small capitalisation Russell 2000 index lost -0.90%.

US equity markets mixed amid a reversal of a recent trend that has seen value stocks outperform growth stocks, with Treasury yields taking a breather from their recent climb – Dow down -234-points or -0.71% Goldman Sachs Group Inc (down -1.09%) and JPMorgan Chase & Co (-1.59%) both fell after the Federal Reserve declined to extend pandemic-related regulatory relief for major US banks. Visa Inc dropped -6.24% after a report said the Justice Department has opened an investigation into its debit card business and possible anticompetitive practices. The broader S&P500 dipped -0.06%. Communication Services and Consumer Discretionary both advanced +0.80% to lead six of the eleven primary sectors higher. Real Estate (down -1.26%) and Financials (-1.2%) both declined over >1% to be the worst performing sector. FedEx Corporation rallied +6.1% after the economic bellwether’s fiscal third quarter numbers released after the closing bell of the previous session topped consensus expectations. The technology-centric Nasdaq gained +0.76% . Facebook Inc gained +4.12% after Chief Executive Mark Zuckerberg said Apple Inc’s (down -0.45%) imminent privacy policy changes on ad sales would leave the social network in a “stronger position.” The small capitalisation Russell 2000 index rose +0.88%.

US equity markets retreated as a fresh rise in bond yields exerted particular pressure on the technology sector – Dow fell -153-points or -0.46% a day after recording fresh record closing (33,015.37) and intra-day (33,047.58) highs. Chevron Corp declined -3.62%. The broader S&P500 lost -1.48% after also setting record closing (3,974.12) and intra-day (3,983.87) peaks in the previous session. Energy tumbled -4.68% to lead ten of the eleven primary sectors lower. Financials (up +0.56%) was the only primary sector to advance. The Nasdaq slumped -3.02% . Apple Inc (down -3.39%), Amazon.com Inc (-3.44%) and Netflix Inc (-3.75%) all fell more than >3%. The small capitalisation Russell 2000 index fell -2.94% (with the Russell 1000 growth index, which includes technology stocks, dropping more than >2%).