US equity markets rebounded, buoyed by President Trump urging Congress to pass a series of smaller, standalone bills that would include a bailout package for the airline industry battered by the coronavirus pandemic - Dow rallied +531-points or +1.91%. The broader S&P500 +1.74%, with Materials, Consumer Discretionary, and Industrials all logging gains of over >2% and leading all eleven primary sectors higher. Eli Lilly and Co rose 3.4% after saying it had submitted a request to the U.S. Food and Drug Administration for emergency use of its experimental COVID-19 antibody treatment. The technology-centric Nasdaq gained +1.83%.

US equity markets retreated after President Trump said he would put negotiations on a new fiscal stimulus package on hold until after the 3 November election - Dow fell -376-points or -1.34%, handing back an earlier rise of over >200-points. Boeing Co dropped -6.81% after the aircraft maker forecast an 11% drop in demand for commercial planes in the next decade and, in a separate outlook for the commercial aviation market, said it sees passenger-traffic growth to increase by an average of 4% a year in the next two decades. The broader S&P500 -1.40%, with the Consumer Discretionary (2.13%), Communication Services (-1.98%), Information Technology (-1.59%) and Energy (-1.52%) all logging falls over of over >1.5%. Utilities (up +0.85%) was the only primary sector to advance. The Nasdaq dropped -1.57%, with the major technology names under pressure amid reports that a House subcommittee that has investigated anticompetitive business practices for more than a year is set to recommend splitting them up and limiting the scope of their future acquisitions. Amazon.com Inc fell -3.01%, Google parent Alphabet Inc -2.19% and Facebook Inc -2.26%. Apple Inc (down -2.87%) announced it would hold an online event on 13 October that’s expected to bring the launch of its new family of iPhones.

US equity markets rallied, buoyed by positive updates on President Trump’s health and as investors continued to eye potential fresh stimulus measures - Dow settled +466-points or +1.68% higher.

US equity markets retreated as investors digested news that President Trump and the First Lady had contracted coronavirus, with technology stocks weighing heaviest on the key indices - Dow down -134-points or -0.48% .

•US markets edged slightly higher Thursday as investors tried to gauge the prospects of Washington passing an additional stimulus package to bolster the economy before next month's election. The Dow Jones Industrial Average rose +35 points, or +0.1%, to 27,816 after jumping 250 points earlier in the day. The S&P 500 gained +0.5%. The Nasdaq Composite outperformed, gaining +1.4%. Tech shares, which could do well even without another stimulus, provided the broader market with some support as well as Amazon, Microsoft, Alphabet and Facebook all jumped at least 1%. Netflix popped 5.5%.

U.S. markets climbed in volatile trading on Wednesday, shrugging off a chaotic clash at the Trump-Biden debate, instead choosing to focus on rising hopes for further coronavirus stimulus and better-than-expected economic data. The Dow Jones Industrial Average closed up 329.04 points, or 1.2%, to 27,781.70, after jumping 573 points at its session high. The S&P 500 rose 0.8%, or 27.53 points, to 3,363.00, while the tech-heavy Nasdaq Composite climbed 0.7%, or 82.26 points, to 11,167.51. Still, major averages suffered their first monthly declines since March partly due to a tech-led correction earlier in September. Markets were also buoyed by positive data regarding a potential coronavirus treatment from Regeneron Pharmaceuticals. Regeneron said after the close Tuesday its REGN-COV2 drug reduced viral levels and improved symptoms in non-hospitalized coronavirus patients. Meanwhile, Moderna’s experimental Covid-19 vaccine appears safe and shows signs of working in older adults, according to study results published in the New England Journal of Medicine. However, Financial Times reported Wednesday Moderna’s vaccine won’t be ready before the November election.

US equity markets fell for the first time in four days on Tuesday amid concerns over a possible resurgence in coronavirus cases.The Dow Jones Industrial Average closed 131.40 points lower, or 0.5%, at 27,452.66. The S&P 500 also dipped 0.5% to end the day at 3,335.47 while the Nasdaq Composite slid 0.3% to 11,085.25. The major averages snapped a three-day winning streak. Shares of airline companies led the declines. JetBlue and American Airlines slid 4.4% and 4% respectively. United dipped nearly 4% and Southwest closed lower by 1.7%.

US equity markets rose sharply on Monday as Wall Street built on strong gains from the previous session amid hope for a new deal on U.S. fiscal stimulus and several corporate deals being struck. The Dow closed 410.10 points higher, or 1.5%, at 27,584.06, to start the week, led by banks and tech. The broader S&P 500 gained 1.6% to close 3,351.60 and the Nasdaq climbed 1.9% to 11,117.53. Both the Dow and S&P 500 had their best session since Sept. 9. Sentiment on Wall Street got a boost after House Speaker Nancy Pelosi said Sunday a last-minute coronavirus aid deal remains on the table as House Democrats try to forge ahead on a smaller aid package costing about $2.4 trillion.

US equity markets advanced after another choppy session although both the Dow and S&P500 logged their fourth straight weekly decline (matching their longest such losing streak since August 2019) – the Dow rose +359 points or +1.30%. Boeing Co rallied +6.8% after the US Federal Aviation Administration said its chief will conduct an evaluation flight of the grounded 737 MAX jet, while European regulators indicated a potential resumption of flights by year end. The broader S&P500 gained +1.60%, with the Information Technology sector (up +2.4%) logging its best session since 9 September and leading ten of the eleven primary sectors higher. Energy (down -0.07%) was the only primary sector to settle in the red. Cruise operators traded strongly (Carnival Corp up +9.7%, Norwegian Cruise Line +13.7% and Royal Caribbean +7.7%), buoyed by an upgrade from a Barclays analyst. NASDAQ +2.30%. Facebook Inc up +2.1%, Amazon.com Inc +2.5%, Apple Inc +3.8%, and Netflix Inc +2.1%. For the week, the Dow lost –1.8% and the S&P500 -0.6% as cyclical stocks underperformed. However, the Nasdaq gained +1.1% for the week, ending a three-week stretch of declines.

•US equity markets settled with modest gains after a turbulent session - Dow settled +52-points or +0.20% higher after trading in a 560-point intra-day range. The Dow was down -226-points at its session lows and climbed as much as +332-points. The broader S&P500 edged +0.30% higher to 3,246.59, having fallen into correction territory (defined as a fall of 10% or more from its most recent peak) after falling below

US equity markets logged sharp falls, with losses accelerating in the final hour of trading as technology stocks took a fresh leg lower - Dow dropped -525-points or -1.92%, unwinding an earlier +176-point rally. Johnson & Johnson (up +0.16%) announced the start of a 60,000-person clinical trial of its single-dose COVID-19 vaccine on three continents, making the drugmaker the fourth experimental vaccine candidate to enter final-stage testing in the U.S. Nike Inc gained +8.76% after posting fiscal first quarter numbers that were well above Wall Street’s expectations after the closing bell of the previous session. The broader S&P500 fell -2.37%, with Energy (down -4.55%) and Information Technology (-3.21%) leading all eleven primary sectors lower. NASDAQ tumbled -3.02%. Apple Inc fell -4.19%, with UBS downgrading the stock to ‘neutral’ from ‘buy’ and noting that the valuation “reflects a growth trajectory that we believe is unsustainable. Tesla Inc dropped -10.34% after the electric-auto maker unveiled innovations and increased efficiencies that seemingly underwhelmed investors at its “Battery Day” event. The stock was also under pressure after Tesla sued the U.S. government to overturn tariffs on China.

•US equity markets advanced, with both the S&P500 and Nasdaq arresting a four session slide - Dow up +140-points or +0.52% (to 27,288.18), recovering from an intra-session low of 26,989.93 snapping a three session losing streak. The broader S&P500 gained +1.05% . NASDAQ +1.71%. Amazon.com Inc rose +5.7%, buoyed by an upgraded to ‘outperform’ from ‘market perform’ by analysts at Bernstein. Facebook Inc (up +2.66%) and Microsoft Corp (+2.41%) both gained more than >2%. Lululemon Athletica Inc rose +1.4% in after hours trading (after a +6.10% gain in the regular session) after the athletic apparel retailer after announcing the company will restart its stock repurchase program, which was halted due to COVID-19. Tesla Inc fell -5.6% but rebounded +3.90% in the extended session as the electric vehicle maker’s annual meeting of stockholders and Battery Day presentation got underway. Chief Executive Officer (CEO) Elon Musk sought to manage expectations ahead of the electric carmaker’s Battery Day presentation, cautioning about hurdles to reaching mass production and noting any new battery technology announced “will not reach serious high-volume production until 2022.”

US equity markets retreated although a late session rally left the key indices well off their worst level of the session - Dow fell -510-points or -1.84%, well off its session lows that saw the index down as much as -942-points or -3.4%. JPMorgan Chase & Co fell -3.09% after being named in a leaked a report citing confidential documents that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials. The broader S&P500 shed -1.16% to 3,281.06, paring an earlier decline of as much as -2.7%. A close below 3,222.76 would have put the index into correction territory (i.e. a drop of over >10% from its most recent peak). The latest falls marked the first time since February that the S&P 500 posted four straight daily losses. Materials (down -3.41%), Industrials (-3.38%) and Energy (-3.27%) logged declines of over >3% and led ten of the eleven primary sectors lower. Information Technology (up +0.76%) was the only primary sector to close in positive territory. Airlines (Delta Air Lines Inc fell -9.2% and United Airlines Holdings Inc -8.6%) and other travel-related stocks (Carnival Corp -6.66%)) were under pressure amid fresh coronavirus concerns. NASDAQ dipped -0.13%, staging an impressive intra-day turnaround that saw the technology-centric index recover from a drop of over >2.5%. The Nasdaq-100 index, comprising the Nasdaq Composite’s 100 largest companies, added +0.4%. Microsoft Corp rose +1.07% after announcing the acquisition of ZeniMax Media and its game publisher Bethesda Softworks for US$7.5B in cash. Apple Inc rose +3.03% and Netflix Inc +3.70%. In broader stock moves, Tesla Inc rose +1.6% in regular trading only to fall -5.33% in the extended session ahead of their “Battery Day” tonight AEST. Luxury homebuilder Toll Brothers Inc rose +5.1% after the company issued an upbeat mid-quarter update. Nikola Corp dropped -19.3% after founder Trevor Milton resigned as executive chairman following allegations by a short seller the company had misled investors about its technology.

•Technology stocks dragged US equity markets lower for a third straight session - Dow down -245-points or -0.88% The broader S&P500 lost -1.12% to 3,319.47, closing below its 50-day moving average (3,343.42) since 23 April. All eleven primary sectors closed in the red, with eight sectors logging falls of greater than >1% including Information Technology (down -1.66%). The technology centric NASDAQ fell -1.07%. Apple Inc fell -3.2% and is down -17.2% in September. Tesla Inc rose +4.4% ahead of their “Battery Day” event on Tuesday night AEST (22 September). Friday night’s (18 September) session marked quadruple witching’, the simultaneous expiry of market index futures, market index options, stock options and stock futures, and brought a spike in volume (with 14.31B shares trading on US exchanges, the highest since the reconstitution of the FTSE Russell indices in June).

•US equity markets settled in the red after a volatile session as investors continued to ponder the Federal Reserve’s latest observations and as the Information Technology sector (down -0.84%) was the subject of fresh selling - Dow down -130-points or -0.47%, snapping a four session winning streak but paring an earlier loss of as much as -385-points. The broader S&P500 shed -0.84%, with Real Estate (down -2.19% leading eight of the eleven primary sectors lower. Materials (up +0.76%), Industrials (+0.23%) and Energy (+0.21%) were the only primary sectors to advance. General Electric Co gained +4.4% to a two month high of US$7.05 on big trading volume (259.1M shares versus the daily average of 82.6M) as Chief Executive Larry Culp said he expected cash flow to be positive in the second half of the year. Ford Motor Co gained +3.70% as it said it had begun production of the new generation F-150 pickup truck at its Michigan facility. The technology-centric NASDAQ dropped -1.27%, briefly dipping back into correction territory (i.e. down -10% from its most recent peak). Facebook Inc and Amazon.com Inc fell -3.3% and -2.25%, respectively. Netflix Inc closed -2.82% lower. Google parent Alphabet Inc dropped -1.67%, while Apple Inc (-1.6%) and Microsoft Corp (-1.04%) were both down at least 1%. For September, Facebook, Amazon, Netflix, Microsoft and Apple are all down at least 10%. Tonight’s session is ‘quadruple witching’, the simultaneous expiry of market index futures, market index options, stock options and stock futures.

•US markets advanced ahead of the latest monetary policy pronouncements from the Federal Reserve- Dow inched +2-points higher. JPMorgan Chase & Co fell -3.1% as it lowered its full-year net interest income forecast. The broader S&P500 gained +0.52%, with Communication Services (up 1.72%), Real Estate (+1.39%), Consumer Discretionary (+1.03%) and Information Technology (+1.00%) all logging gains of 1% or more and leading eight of the eleven primary sectors higher. Financials (down -1.36% was the worst performing sector). Oracle Corp gained +2.5% after The Wall Street Journal reported that the Trump administration was reviewing the companies bid to become the “strategic partner” for TikTok’s U.S. operations, which is owned by China-based ByteDance. The technology-centric NASDAQ +1.21%. Amazon.com Inc rose +1.71% and Google-parent Alphabet Inc +1.46%, while Netflix Inc gained +4.14% and Facebook Inc +2.36%. Microsoft Corp rose +0.44% in extended trading (after a +1.64% gain in the regular session) after announcing it will raise its dividend by ~10% to US$56 cents per share from US$0.51c. Microsoft also disclosed that it will hold a virtual annual shareholders meeting on 2 December. Apple Inc (up +0.16%, unwinding an earlier gain of ~3%) unveiled new Apple Watches and iPads at a fall launch event that was devoid of iPhone announcements. The company also announced a new fitness subscription service and the option to bundle Apple services for a lower price than users would have had to pay to sign up for them each individually.

•US equity markets rebounded, snapping a three session losing streak as some of the selling seen in the technology sector abated - Dow rebounded +440-points or +1.60%. Walmart Inc rose +1.04% after the retailer announced it was testing a drone delivery program. The broader S&P500 rallied +2.01% , with Information Technology (up +3.35%) leading all eleven primary sectors higher. The technology-centric NASDAQ gained +294-points or +2.71%, booking its best one-day point and percentage gain since 29 April a day after sliding into correction territory at the fastest pace on record. Apple Inc rose +3.99% after falling over >6% in the previous session. Tesla Inc gained +10.92%, rebounding from a record one-day decline (down -21.06%) in the previous session. Those two stocks, along with Microsoft Corp (+4.26%), Amazon.com Inc (+3.77%), Alphabet Inc (+1.60%) and Facebook Inc (+0.94%), lost US$1 trillion in market value over the last three days. In merger and acquisition (M&A) news, Tiffany & Co fell -6.44% after LVMH Moet Hennessy Louis Vuitton SE (down -0.09%) said it wouldn’t be able to complete the previously announced us$16B takeover of the U.S. luxury goods retailer “as it stands.” LVMH cited a letter from the French government asking for a delay in light of the threat of tariffs on French products by the U.S., as well as Tiffany’s request to extend the deadline from 24 November to 31 December. Separately, the Wall Street Journal reported that mall operators Simon Property Group Inc (down -1.7%) and Brookfield Property Partners LP (up +0.27%) were set to buy struggling retailer J C Penney Company Inc out of bankruptcy for ~US$800M. Railroad company Kansas City Southern railroad company fell -1.33% (to US$183) in extended trading after the Wall Street Journal reported that the company had rejected a takeover offer from private equity firms. The offer was reportedly for US$208 per share.

US equity markets resumed trading following the Labor Day holiday with steep falls, with Technology stocks under fresh selling pressure - Dow dropped -632-points or -2.25%. Boeing Co fell -5.8% after the Wall Street Journal reported that production problems at a 787 Dreamliner factory prompted air-safety regulators to review quality-control lapses that could stretch back almost a decade. JPMorgan Chase & Co fell -3.5%, after the banks said it found evidence of employees and customers misusing the government’s flood of stimulus funds this spring and is cooperating with authorities The broader S&P500 shed -2.78% to cap its worst three day stretch (down -%) since June. The technology-centric NASDAQ tumbled -4.11% to 10,847.69, booking its quickest slide ever from a record close to correction territory after falling 10.03% from its record closing high of 12,056.44 on 2 September. A correction is typically defined as a drop of at least 10% from the prior closing high, which the Nasdaq accomplished overnight after only three trading sessions. Apple Inc fell -6.7% and logged its worst three-day slump since October 2008, according to Bespoke Investment Group. Tesla Inc fell -21.06% (to US$331.21) to log a record one-day decline after S&P Dow Jones Indices on Friday (4 September) unexpectedly decided not to include the electric-vehicle maker in the S&P500 as part of their latest re-balance.

US equity and bond markets CLOSED for the Labor Day holiday. In US corporate earnings, Lululemon Athletica Inc and Slack Technologies Inc report second-quarter results tonight AEST. In US economic data, the National Federation of Independent Business (NFIB) Business Optimism Index for August is released tonight AEST.

US equity markets retreated ahead of the Labor Day long weekend, with the sell off in the technology sector deepening - Dow fell -159-points or -0.56%, paring an earlier decline of as much as -628-points. Boeing Co rose +1.35%, while bank stocks also gained broadly (with JPMorgan Chase & Co up +2.16 and Goldman Sachs Group Inc +1.63%) The broader S&P500 shed -0.81%, with the Information Technology (down -1.3%), Consumer Discretionary (-3.6%) and Communication Services (-3.3%) sectors under pressure for a second straight session. The technology-centric NASDAQ -1.27%, logging its steepest two session drop since 17 March. Facebook Inc (-2.88%), Amazon.com Inc (-2.18%) and Alphabet Inc (-3.09%) all lost more than >2%. Netflix Inc slid -1.84% and Microsoft Corp dropped -1.4%. However, Apple Inc settled +0.1% higher, recovering from an earlier drop of as much as -8.3%.

•US equity markets fell sharply, retreating from record highs as the Information Technology sector (down -5.83%) snapped a 10-day winning streak and logged its sharpest drop since March - Dow down -808-points or -2.78% (to 28,292.73) a day after climbing above the 29,000 mark for the first time since February. The index had been down over >1,000 points earlier in the session. The fall marked the indice’s biggest one-day decline since 11 June and pushed the blue chip gauge back into negative territory for the year-to-date (down -0.9%). All but two (namely, American Express Co up +0.1% and Verizon Communications +0.1%) of the Dow’s 30 components closed lower. The S&P500 fell -3.51%, with 446 of the broader indice’s members falling. Consumer Discretionary (down -3.6%) and Communication Services (-3.3%) were the worst performing primary sectors behind Information Technology with falls of over >3%. All eleven primary sectors settled in the red, with Energy (down -0.7%) the best performer. The technology-centric NASDAQ dropped -4.96%, snapping a four session winning streak. Apple Inc (down -8.01%) posted its biggest one-day decline sine 16 March, losing ~US$180B in market capitalisation terms. Google parent Alphabet Inc shed -5% after reports the Justice Department could bring an antitrust case against the search giant as soon as this month. Facebook Inc dropped -3.8% after announcing it would ban new political ads from running in the week before the 3 November presidential election. The declines marked the biggest one-day drops for all three benchmark indexes since June. The Nasdaq-100, comprising the largest 100 non-financial stocks in the Nasdaq, fell -5.2%. Zoom Video Communications Inc (down -10%), Nvidia Corp (-9.3%) and Advanced Micro Devices Inc (-8.5%) were among the heavy decliners. Tesla Inc dropped -9.02% to be down over >18% month-to-date.

US equity markets booked a fresh round of records amid a broad rally, shrugging off a mixed batch of economic reports - Dow gained +455-points or +1.59% (to 29,100.50), reclaiming the 29,000 mark for the first time since February to sit ~1.5% below its 12 February record closing high (29,551.42). 28 of the 30 index constituents advanced. President Trump was pleased with the latest rally, taking to Twitter to type (replete with emoticons) “The Dow Jones Industrial just closed above 29,000! You are so lucky to have me as your President. With Joe Hiden’ it would crash” The broader S&P500 advanced +1.54% (to 3,580.84), logging its 22nd record closing high for the year. The Utilities sectors (up +3.1%) led ten of the eleven primary sectors higher, with Energy (down -0.4%) the sector to settle in the red. A total of 74 members, or 15%, of the benchmark large-cap U.S. index set all-time intraday records, including Nvidia Corp (up +3.80%), Advanced Micro Devices Inc (down -2.13%), PayPal Holdings Inc (+0.9%), Amazon.com Inc (+0.92%), Alphabet Class A (+4.07%), Apple Inc (down -2.1%) and Walmart Inc (+0.1%)name a few notables. The technology-centric NASDAQ +0.98% (to 12,056.44) and marking its 43rd record closing high of 2020. Tesla Inc fell -%, logging its largest single session decline in about six weeks after a regulatory filing disclosed that Scotland-based fund manager Baillie Gifford reduced its stake in the electric vehicle maker to 4.25% from 6.3% (selling ~19.23M shares worth ~US$9.14B). Baillie Gifford said it sold the stock to meet internal guidelines that limit the percentage of the portfolio that could be invested in a single stock, according to a report in The Wall Street Journal.

Stocks were mixed on Monday as the S&P 500 and Dow Jones Industrial Average wrapped up their best August performances since the 1980s. The Dow slid 223 points, or -0.8%, to 28,430.05 and the S&P 500 dipped -0.2% to close at 3,500. Meanwhile, the Nasdaq got a lift after two big stock splits took effect Monday. Apple shares gained 3.4% as a 4-for-1 split took effect. Tesla shares added 12.6% following its 5-for-1 split. Since announcing plans for the stock split on July 30, Apple has risen 35%, in the process becoming the first U.S. public company to surpass $2 trillion in market value and extending its gains for the year to 78%. Tesla shares, meanwhile, have surged 77% from the company's Aug. 11 stock-split announcement and have more than quintupled this year.

•Yet another round of records for both the S&P500 and Nasdaq to end the week, while the Dow Jones Industrial Average erased its losses for 2020 - Dow up +162-points or +0.57% to 28,653.87, to be up +0.4% for the year and settling ~3% shy of its 12 February record closing high (29,568.57) ahead of a restructuring of the index that becomes effective. Walmart Inc rallied +2.69% says a deal for video sharing TikTok US could potentially benefit the retail giant’s e-commerce, marketplace and advertising businesses. Walmart jumped +4.5% on Thursday (27 August) after it was revealed that the retailer is teaming up with Microsoft Corp (up +1.03%) on a bid for the video sharing site. However, China announced new restrictions on artificial-intelligence technology exports on Friday (28 August) that could further complicate the sale of TikTok’s U.S. operations. Coca-Cola Co rose +3.32% after the company announced a reorganisation and said it would offer voluntary job cuts to 4,000 workers in the US, Canada and Puerto Rico. Visa Inc (up +2.22% to US$215.71) notched its first record close since 19 February. Both Mastercard Inc (up +2.84%) and Visa received bullish research initiations last Thursday (27 August) at Mizuho Securities. The broader S&P500 gained +0.67% to a fresh record closing high (3,508.01) and first settlement above >3,500. The index logged it sixth record closing high since confirming a bull market on 18 August. Energy (up +1.85%) led all eleven primary sectors higher. The technology-centric NASDAQ +0.60%. Apple Inc slipped -0.16% ahead of the company’s 4-for-1 stock split coming into effect tonight AEST. Dell Technologies Inc rose +6.05% as working and learning from home trends underpinned a better-than-expected second quarter results release for the company after the close of the previous session, Tesla Inc dipped -1.13% on the final day before the electric vehicle company’s 5-for-1 stock split becomes effective. Tesla has rallied +61% since announcing its stock split and are up +958% over the past year (to be the seventh most valuable US company by market capitalisation but one not yet in the S&P500 index).

US equity markets settled with modest gains after a choppy session, with the S&P500 logging yet another record closing high after Federal Reserve Chair Jerome Powell said policy makers would no longer pre-emptively hike interest rates to stave off inflation - Dow up +160-points or +0.57%, well off its session peak that saw the index up as much as +385-points or +1.36% and briefly turn positive for the year. Walmart Inc (up +%) and Travellers Companies Inc (+%) accounted for about a quarter of the index’s rally. The broader S&P500 gained +0.17% (to 3,484.55), briefly topping >3,500 for the first time at its session high (3,501.38). NetApp Inc rose 4% after it reported unexpected earnings and sales growth after the closing bell of the previous session. The technology-centric NASDAQ lost -0.34%, pulling back from a record high but touching a fresh intra-day peak (11,730.01) earlier in the session. Facebook Inc and Netflix Inc dropped -3.52% and -3.88% respectively. Amazon.com Inc (-1.22%), Google-parent Alphabet Inc (-1.09%) and Apple Inc (-1.2%) were all down more than 0.9%. Microsoft Corp bucked the negative trend, rising +2.46%.

Yet another round of record closing highs for the both the S&P500 and Nasdaq as investors digested positive news on the US-China trade front and eyed the Federal Reserve’s annual symposium on monetary policy which kicks off tonight AEST - Dow up +83-points or +0.30% to 28,331.92 and is now just 1.02% shy of turning positive for the year and just 4.1% below its 12 February record closing high of 29,551.41. The broader S&P500 gained +1.02% to 3,478.73 and locking in its 18th record closing high for the year. The latest gains left the S&P 500 up more than 58% since hitting an intraday low on 23 March. Salesforce.com Inc surged +26.04% after the cloud-based customer-relationship-management company announced quarterly results after the closing bell of the previous session that topped forecasts as its revenues hit US$5B for the first time. The company also was benefiting from Monday’s (24 August) announcement by S&P Dow Jones Indices that it would be among a trio of companies to be included in the Dow Jones Industrial Average, effective Monday (31 August). The technology-centric NASDAQ +1.74% to 11,665.06 and marking its 39th record closing high of 2020. Netflix Inc rose +11.61% to US$547.53 on big volume (20.1M shares versus its 50-day average volume of 7.3M) and near its highest level since 13 July (US$575.37). Facebook Inc rose +8.22% (to US$303.91), closing above >US$300 per share for the first time. Tesla Inc rose +6.42% (and saw its market capitalisation top >US$400B), buoyed by analysts at Jefferies lifting their target price to US$2,500 from US$1,200. Analysts noted that "Tesla's competitive edge in cars may soon start to shrink but continues to widen in multiple other dimensions, from brand leverage and software to battery capacity and industrial efficiency" and also pointed to the company’s Battery Day on 22 September, where the company could “set new benchmarks and ambitions for battery density, materials and industrial processes leading to pack costs

•The S&P500 and Nasdaq climbed to fresh record highs - Dow down -60-points or -0.21% a day after S&P Dow Jones Indices announced an overhaul of its composition of the blue chip index (that included the removal of near 100-year member Exxon Mobil Corp (down -3.17%). Apple Inc logged its first decline in six sessions, settling -0.82% lower. Boeing Co fell -1.99%. The broader S&P500 gained +0.36% The technology-centric NASDAQ +0.76% to 11,466.17, logging its 38th record closing high of 2020. Facebook Inc rose +3.47%, buoyed by an upgrade from UBS. In merger and acquisition (M&A) news, Cisco Systems Inc announced it intends to acquire BabbleLabs, which has developed noise-removal and speech-enhancement technology. Terms were not disclosed.

•Fresh records for both the S&P500 and Nasdaq to begin the new trading week, with sentiment buoyed by reports of further advanced on the COVID-19 vaccine development front - Dow up +378-points or +1.35% to 28,308.46, settling above >28,000 for the first time in six months and just 4.2% shy of its 12 February record closing high. Boeing Co (up +6.43%) provided the biggest positive contribution. The broader S&P500 gained +1.00% to a fresh record closing high (3,431.28) and first close above >3,400. Energy (up +2.75%) and Financials (+2.32%) led ten of the eleven primary sectors higher, with Health Care (down -0.54%) the only sector to settle in the red. Travel and Leisure stocks traded strongly amid the latest encouraging COVID-19 vaccine headlines, with United Airlines Holdings Inc up +9.93% American Airlines Group Inc +10.53% and Delta Air Lines Inc +9.28%, while cruise operator Carnival Corp rallied +10.17%. The technology-centric NASDAQ +0.62%, hitting both a record closing (11,379.72) and intra-day (11,462.05) high. Apple Inc rose +1.2% and touched a fresh record high (US$515.14). Elsewhere, Facebook Inc rose +1.64%, Amazon.com Inc +0.69% and Google parent Alphabet Inc +0.49%. Twitter Inc rose +3.13% (to US$40.49), logging its highest close since 7 October, 2019. In merger and acquisition (M&A) news, Blackstone Group Inc rose 0.62% after Takeda Pharmaceutical Co announced it would sell its consumer health care business for 242B yen (~US$2.3B) to the U.S. private equity giant. Separately, diversified industrial company NN Inc fell -7.74% after the company said it has agreed to sell its Life Sciences unit to affiliates of American Securities LLC in a deal worth US$825M.

•Fresh record closing highs for the S&P500 and Nasdaq following some solid economic data and with Apple Inc rallying over >5% - Dow up +191-points or +0.69%. The broader S&P500 gained +0.34% to 3,397.16, logging its second record close of the week. Information Technology (+1.21%) was comfortably the best performing primary sector, leading seven of the eleven primary sectors higher. Energy (down -0.63%) and Materials (-0.53%) were the key laggards. Delta Air Lines Inc announced plans to resume 50 flights on the international route (including to Tokyo, Seoul, Beijing and Shanghai) this northern hemisphere winter and in 2021 that were suspended due to the COVID-19 pandemic. The technology-centric NASDAQ +0.42% to 11,311.80 and carving out its 36th record close of 2020. Apple Inc (up +5.15%) touched a record intra-day high (US$499.47) and marked its best 4-week performance (up %) since April 2009, according to Dow Jones Market Data. The small capitalisation Russell 2000 index fell -0.8%. Tesla Inc (up +2.41% to US$2,049.98) logged its first close above US$2,000 per share. Since announcing their respective stock splits last month, Apple Inc has gained ~29% and Tesla Inc ~53%.

•US equity markets retreated a day after both the S&P500 and Nasdaq set fresh records - Dow fell -85-points or -0.31%. The broader S&P500 lost -0.44% after logging a fresh record intra-day high (3,399.54)) earlier in the session. Real Estate (down -2.01%) was the worst performing sector, with all eleven primary sectors closing in the red. Southwest Airlines Co edged +0.32% higher after reporting a “modest” uptick in leisure demand this month as travellers booked last minute trips despite the pandemic. The technology-centric NASDAQ shed -0.55%. Apple Inc rose +0.13%, settling well off earlier highs (US$468.65. up +1.26%) that saw if become the first US company to attain a market capitalisation of US$2 trillion. Apple first reached a US$1 trillion market capitalisation on 2 August, 2018. On 31 July, Apple passed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company. The small-capitalisation Russell 2000 index closed +0.2% higher, extending a streak of outperformance that has it up +6.7% in the past month. In broader stock moves, recreational vehicle (RV) maker Winnebago Industries Inc said that its board of directors has approved a 9% dividend increase to US$0.12c per share (payable on 30 September to shareholders of record as of 16 September). Winnebago in June posted quarterly earnings above Wall Street expectations thanks to a surge in RV sales amid the pandemic.

US equity markets advanced, with both the S&P500 and Nasdaq setting fresh records - Dow eased -67-points or -0.24%. The broader S&P500 gained +0.23% to 3,389.78, logging its first record closing high since 19 February and recovering all its losses made since the onset of the coronavirus crisis. It has taken the S&P500 126 trading sessions to finish at a new record level after falling by at least 20%, which defines a bear market. Oracle Corp gained +2.20% following a CNBC report the company is discussing a deal for TikTok’s U.S., Canada, Australia and New Zealand operations. The technology-centric NASDAQ +0.73% to 11,210.97, notching its 34th record closing high of 2020. Amazon.com Inc outperformed with a +4.% gain.