US equity markets advanced, shrugging off stronger-than-expected wholesale inflation data and with investors’ focus now turning to the latest consumer price inflation figures tonight AEST - Dow rose +127-points or +0.32%. Boeing Co rose +1.30% despite delivering fewer jets in April amid quality problems that forced a slowdown in production. The company reported that it shipped 24 jets in April (including 16 737 MAX jets), down from a total of 29 jets in March (including 24 MAX jets). In April 2023, Boeing delivered 26 jets, including 17 MAX jets. Thus far in 2024, Boeing has delivered 107 jets, including 82 MAX jets. That compares with 156 jets in the first four months of 2023, including 128 MAX jets. Intel Corp (up +1.77%), American Express Co (+1.21%) and JP Morgan Chase & Co (+1.4%) also all rose over >1%.

US equity markets mixed following a session absent any major news or data, and with investors eyeing the latest round of inflation figures - Dow eased -81-points or -0.21%, snapping an eight session winning streak. Intel Corp rose +2.21% after The Wall Street Journal reported that the company is in talks with Apollo Global Management about providing US$11B in funds to help the chipmaker build a plant in Ireland.

US equity markets advanced although investor sentiment was kept in check after consumer sentiment data (including inflation expectations) deteriorated and ahead of inflation data later this week - Dow rose +125-points or +0.32%, booking an eighth consecutive session advance and best weekly performance of 2024 to date. Goldman Sachs Group Inc settled -0.18% lower after touching a record intra-day high of US$458.75.The broader S&P500 added +0.16%, with Consumer Staples (up +0.64%), Information Technology (+0.48%) and Financials (+0.46%) the leading primary sector performers on Friday (10 May). Consumer Discretionary (down -0.61%) and Energy (-0.55%) were the laggards.The Nasdaq dipped -0.03%.The small capitalisation Russell 2000 lost -0.67%.

US equity markets advanced as the latest weekly jobless claims figures fuelled fresh optimism around Federal Reserve interest rate cuts - Dow rallied +331-points or +0.85% to 39,387.76 to book its seventh consecutive session advance and highest close since 1 April. The 30-stock index also settled within 1.1% of its 28 March record closing high (39,807.37). Home Depot Inc (up +2.54%) and Caterpillar Inc (+2.11%) climbed over >2% to be the leading index components overnight. 

US equity markets were mixed following a subdued session - Dow sealed its sixth consecutive session advance, rising +172-points or +0.44% to 39,056.39 to book its longest winning streak since the period that ended on 19 December (when the index rose for nine straight trading days). It also marked the first time that the 30-stock index closed above >39,000 since 3 April.  

US equity markets advanced, building on last Friday’s (3 May) strong gains - Dow extended gains into a fourth straight session, up +177-points or +0.46%. Walt Disney Co (up +2.47%) was the leading performer in the 30-stock index ahead of the release of its fiscal second quarter result tonight AEST.Apple Inc fell -0.91% following news over the weekend that Berkshire Hathaway Inc, the largest shareholder in the iPhone maker, had reduced its stake in the company by ~13% (albeit it still comfortably remains the investment conglomerate’s largest position). The company hosts a product launch event tonight AEST called ‘Let Loose’ (with some expecting the release of a new iPad tablet). Meanwhile, iPhone manufacturer Foxconn - which trades as Hon Hai Precision Industry in Taiwan – jumped +7.37% and hit a record intra-day high (NT$168.50) after the company reported a 19.03% year-on-year rise in April revenue (to 510.9B New Taiwan dollars). The company said that its component business, as well as its cloud and networking products “delivered strong growth,” while its smart consumer electronics and computing products segment “showed significant year on year growth in revenue.”

US equity markets rallied on Friday (3 May) after the latest jobs data printed weaker-than-expected for the first time in four months, with all three benchmark indices rising over >1% on the same day for the first time since 22 February  - Dow rallied +450-points or +1.18%. Apple Inc gained +5.98%, with the iPhone maker logging its best single session gain since 30 November, 2022 after unveiling stronger-than-expected fiscal second quarter result after the close of the previous session that included a record US$110B share buyback programme. Amgen Inc +11.82% - its best single session advance since 2009 - after the biopharmaceutical giant posted quarterly earnings that came in ahead of expectations and provided a positive update about trials of its injectable weight-loss drug MariTide after the close of last Thursday’s (2 May) session.

US equity markets rallied ahead of the key jobs report for April tonight AEST and in the wake of the Federal Reserve’s latest monetary policy meeting - Dow gained +363-points or +0.96%. Boeing Co (up +4.31%) and Amazon.com Inc (+3.20%) were the leading performers in the 30-stock index. 

US equity markets retreated overnight, reversing earlier gains as investors digested the latest monetary policy announcements from the Federal Reserve - Dow added +87-points or +0.2%, unwinding an earlier rally of over >500-points. Amazon.com Inc climbed +2.17% after reporting better-than-expected first-quarter earnings after the close of the previous session, underpinned by growth in its cloud computing and advertising businesses. Johnson & Johnson rose +4.56% after proposing a US$6.5B settlement that would resolve nearly all outstanding talc ovarian cancer lawsuits it faces.

US equity markets retreated, extending losses in the final hour of trading as wage growth data dealt another blow to the Federal Reserve in its fight against inflation ahead of the central bank concluding its two-day monetary policy meeting tomorrow morning AEST - Dow fell -570-points or -1.49%, the largest one-day percentage decline for the 30-stock index since March 22, 2023. Economic bellwether Caterpillar Inc dropped -4.35%, while Boeing Co (-3.26%), Chevron Corp (-3.04%) and Microsoft Corp (-3.21%) fell over >3%. Walmart Inc fell -1.48% after announcing it was abandoning its push into low-cost health centres amid mounting costs.

US equity markets advanced, building on last week’s rally ahead of the busiest week on the US first quarter earnings calendar and employment data and the Federal Reserve’s latest monetary policy meeting - Dow added +146-points or +0.38%. Boeing Co rose +3.75% amid reports it had tapped the bond market to raise US$10B after last week reporting it burned through nearly $4 billion in cash in the first quarter.

US equity markets rallied on Friday (26 April), shrugging off fresh evidence of sticky inflation as investors cheered strong earnings from technology majors - Dow rose+153-points or +0.4%. Amazon.com Inc (up +3.43%) was the leading performer in the 30-stock index, buoyed by strong first quarter results from artificial intelligence (AI) hyperscaler peers, including Microsoft Corp (+1.82%). Goldman Sachs Group Inc rose +1.79% to US$427.57,  touched a record all-time high of US$428.53.

US equity markets retreated, paring earlier steeper losses as investors digested the latest economic growth data and another swathe of major corporate earnings releases  - Dow fell -375-points or 0.98% (after slipping -43-points or 0.11% on Wednesday (24 April)). International Business Machines (IBM) Corp shed -8.25% after the hardware, software and consulting provider reported softer-than-expected first quarter revenue (up +1.5% year-on-year at US$14.46B versus consensus US$14.55B) after the close of the previous session and confirmed earlier media speculation in announcing that it was acquiring cloud software maker HashiCorp Inc (up +4.49% at US$32.82) in a deal with an enterprise value of US$6.4B (paying US$35 per share).

US equity markets rallied as investors poured over another busy corporate earnings calendar - Dow extended gains into a fourth consecutive session, rising +264-points or +0.69% to book its longest winning streak since 21 March. Verizon Communications Inc rebounded +2.85% after dropping -4.67% a day earlier following the release of the telecommunications giant’s first quarter result. American Express Co gained +2.56%.

US equity markets rebounded to open a busy week headlined by a host of major corporate earnings releases, and gross domestic product (GDP) growth and inflation data - Dow gained +254-points or +0.67%, extending its advance into a third consecutive session. Goldman Sachs Group Inc (up +3.3%) was the leading performer in the 30-stock index, with just five components settling in the red. Salesforce Inc rose +1.27% following reports that talks to acquire data management firm Informatica (down -10.51%) had broken down. News of the possible acquisition sent Salesforce’s stock tumbling last week.

US equity markets retreated, with large capitalisation technology stocks under particular pressure and with traders continuing to assess the latest developments in the Middle East and quarterly earnings - Dow gained +211-points or +0.56%.

The S&P 500 and Nasdaq fell for a fifth straight session as a slew of earnings reports lifted pockets of the market, including insurers and airlines, while technology stocks underperformed  - Dow edged +22-points or +0.06% higher, with UnitedHealth Group (up +2.96%) the leading performer in the 30-stock index for a third straight session, getting a further boost after health insurance peer Elevance Health Inc (+3.19%) raised its full-year earnings forecast after topping first quarter earnings and revenue estimates thanks to premium rate hikes. However, Microsoft Corp (down -1.84%), Intel Corp (-1.79%) and Salesforce Inc (--1.59%) all fell over >1.5.

US equity markets retreated, with both the S&P 500 and Nasdaq notching their first four-day losing streaks since January and hitting 2-month lows - Dow eased -46-points or -0.12%, unwinding an earlier rally of +238-points and logging its seventh negative session in the past eight. UnitedHealth Group Inc rose +2.15%, leading the gainers list for the 30-stock index for a second day after posting a stronger-than-expected first quarter result on Tuesday (16 April). Goldman Sachs Group Inc (up +1.78%) and Nike Inc (+1.55%) both rose over >1.5%.

US equity markets settled mostly in the red following a choppy session as markets continue to adjust interest rate expectations - Dow added +64-points or +0.17%. Boeing Co (up +1.63%) snapped an 11-session losing streak -the stock’s equal longest stretch of consecutive declines.

US equity markets retreated as a fresh rise in bond yields and ongoing concerns around instability in the Middle East overshadowed a strong first quarter result from investment banking major Goldman Sachs - Dow fell -248-points or -0.65%, relinquishing an earlier rally of over >1% to log a sixth straight session decline - the longest losing streak since June. Five (5) Dow components touched lows not seen in more than a year – Biogen Inc (down -0.70%), Boeing Co (-1.02%), Brown-Forman Corp (-0.08%), Verisign Inc (-1.20%) and Walgreens Boots Alliance Inc (-1.12%).

US equity markets retreated after major U.S. bank results failed to impress, capping a week marked by market-moving inflation data, evolving expectations for U.S. Federal Reserve policy, and escalating geopolitical tensions - Dow shed -476-points or -1.24% after falling as much as -582-points or -1.51% earlier in the session. Chevron Corp -1.81% after Hess, which it has agreed to acquire, warned arbitration with ExxonMobil over Guyanese oilfield assets could push the acquisition into 2025.

US equity markets advanced, rebounding from the previous session’s sell-off that was triggered by a hotter than expected US consumer price inflation reading for March - Dow dipped -2-points or -0.01%.

US equity markets retreated following a stronger-than-expected March inflation report that prompted federal-funds futures markets to quickly price out rate cuts for the Federal Reserve’s June and July monetary policy meetings - Dow shed -422points or -1.09%, with Home Depot Inc (down -3.00%) and Intel Corp (-2.95%) falling ~3%. Boeing Co fell -1.96% a day after the New York Times reported a whistleblower raised concerns about the safety of its Dreamliner 787s. On the positive side of the ledger,  Walmart Inc (up +1.39%) was the strongest performer in the 30-stock index, while Chevron Corp (+0.41%) logged a record closing high (US$162.67).

US equity markets edged higher, rebounding late in the session ahead of key inflation figures for March tonight AEST - Dow dipped -9-points or -0.02%. Boeing Co (down -1.89%) fell for a seventh straight session – its longest losing streak since 3 September 2023 - after the company reported that it delivered 83 commercial airplanes in the first quarter, which was its lowest quarterly total in nearly three years and below consensus analyst forecasts for 105 planes. It marked a steep decline from the 157 units it delivered in the fourth quarter and the 130 units it delivered in the first quarter of 2023. Meanwhile, a New York Times report said the US aviation regulator was investigating whistleblower claims about safety issues in the production of Boeing’s 787 Dreamliner plane. The company said the claims were “inaccurate”. Intel Corp rose +0.92% after unveiling its latest artificial intelligence (AI) chip, called Gaudi 3. Intel says the new Gaudi 3 chip is over twice as power-efficient as Nvidia Corp’s H100 GPU, and can run AI models one-and-a-half times faster than its competitor’s product. It also comes in different configurations like a bundle of eight Gaudi 3 chips on one motherboard or a card that can slot into existing systems.

US equity markets settled little changed in a subdued start to the week as investors eye key inflation figures on Wednesday night AEST (10 April) - Dow dipped -11-points or -0.03%. Nike Inc (up +1.31%) and Home Depot Inc (+1.17%) both rose over >1%. However,  Intel Corp fell -1.89% as R2 Semiconductor filed a patent infringement lawsuit against its French unit and two of its customers, Dell Technologies Inc (-4.20%) and Hewlett-Packard Enterprise Co (up +0.78%), in a case that could see the technology giants blocked from importing certain microchips to the country.

US equity markets climbed on Friday (5 April) after a strong jobs report reinforced the view that the economy remains healthy even as it suggested the Federal Reserve could delay cutting interest rates - Dow rose +307-points or +0.80%. Amazon.com Inc climbed +2.82% as a Wedbush survey showed nearly 60% of respondents intended to increase their spending on the platform in 2024, the most of any retailer in the survey. However, Intel Corp fell -2.57%, extending losses into a fifth consecutive session as investors continued to digest its disappointing foundry business financials.

US equity markets fell sharply amid fresh concerns Federal Reserve's ability to cut interest rates this year against a backdrop of inflationary pressures including climbing oil prices, and ahead of key jobs figures tonight AEST - Dow down -530-points or -1.35%, extending its decline into a fourth straight session and marking the index’s  worst daily percentage drop since 22 March, 2023. Only two of the index’s 30 components settled in positive territory, with Chevron Corp up +0.16% and +%. Boeing Co fell -0.88% following reports it was in talks with competitor Airbus SE to divide the operations of contractor Spirit AeroSystems Holdings Inc (+0.47%). Walt Disney Co (down -1.59%) Chief Executive Officer (CEO) Bob Iger aid Disney+ will be cracking down on password sharing in June, following Netflix Inc's (down -2.05%) lead to boost streaming service profitability.

US equity markets settled little changed following a slew of mixed economic data - Dow slipped -43-points or -0.1%, unwinding an earlier rise of over >135-points to log a third consecutive session decline. Walt Disney Co fell -3.13% after shareholders re-elected all 12 of the entertainment giant's directors at the annual shareholder meeting overnight, dealing activist investor Nelson Peltz defeat in his months-long campaign to claim spots on the board for himself and former chief financial officer Jay Rasulo. Intel Corp tumbled -8.22% as analysts and investors mulled yesterday’s announcement that its foundry business recorded a $7 billion operating loss in 2023. However, Amazon.com Inc rose +0.95% after it said it would lay off hundreds of employees in its Amazon Web Services unit.

US equity markets extended their lackluster start to the new quarter, with the Dow and S&P 500 logging their worst single session performance since 5 March - Dow shed -397-points or -1.00% after falling over >500-points earlier in the session. UnitedHealth Group slumped -6.44% after the government finalised a January proposal to raise payments to Medicare Advantage plans by 3.7% in 2025, a modest increase that analysts expect will crimp insurers’ profits. Honeywell International Inc fell -0.88% amid a report from Bloomberg that the industrial conglomerate was exploring a sale of its personal protective equipment unit.

US equity markets resumed trading following the Good Friday holiday, opening the new quarter on a subdued note following positive manufacturing data that lifted Treasury yields – Dow fell -241-points or -0.60%, marking the sharpest single session decline for the 30-stock index since 22 March.

US equity markets rallied, logging a broad advance in the final hour of the session - Dow rallied +478-points or +1.22%, and is on pace for its best first quarter gain since 2021. Merck & Co rallied +4.96% to be the leading component in the 30-stock index a day after the U.S. Food and Drug Administration (FDA) approved its drug (which will be marketed as Winrevair)  to treat a rare, progressive and life-threatening lung condition called pulmonary arterial hypertension.

US equity markets retreated, with investors eyeing key inflation figures on Friday night AEST (29 March) - Dow slipped -31-points or -0.08%. Boeing Co fell 2.04% as credit rating agency Moody’s said it was considering downgrading some of the jet maker’s debt. Johnson & Johnson added +0.35% amid reports it was in talks to acquire medical device maker Shockwave Medical Inc (+10.04%). Visa Inc slipped -0.22% as it agreed to lower swipe fees to settle a legal battle it and peer Mastercard (up +0.16%) have fought with retailers for decades.

US equity markets were mostly weaker on Friday (22 March) but capped their biggest weekly advance in three months - Dow fell -305-points or -0.77%. Nike Inc sank -6.90% after the world's largest sportswear maker warned that its revenue in the first half of fiscal 2025 would shrink by a low-single-digit percentage, as it scales back on franchises to save costs. However, FedEx Corp rallied +7.35% after the economic bellwether raised its 2024 guidance and said it would continue to cut costs and trim its spending for the year after the close of the previous session.

The benchmark US equity indices rallied to fresh all-time highs after the Federal Reserve signaled that it remains on track to lower interest rates three times this year - Dow rallied +401-points or +1.03% to 39,512.13. Boeing Co gained +3.67% to be the leading performer in the 30-stock index, while American Express Co (+2.81%) and 3M Co (+2.65%) climbed over >2.5%. 

US equity markets advanced as investors eyed the conclusion of the Federal Reserve’s latest two-day monetary policy meeting tomorrow morning AEST (21 March) - Dow rallied +320-points or +0.83%, booking its largest one-day point and percentage gains since 22 February. Home Depot Inc (up +2.02%) was the leading performed in the 30-stock index.

US equity markets advanced despite Treasury yields hitting three week highs ahead of a busy week of key global central bank meetings - Dow added +76-points or +0.20%, with Salesforce Inc (up +2.1%) and Walt Disney Co (+1.7%) rising over >1.5 to be the leading performers in the 30-stock index.

US equity markets retreated on Friday (15 March), with mega capitalisation technology names a key drag and with investors eyeing key central bank meetings this week - Dow fell-191-points or -0.49%, with Salesforce Inc (down -2.96%) and Amazon.com Inc (-2.42%) leading losses in the 30-stock index. Microsoft Corp fell -2.07% a day after closing at a record high. McDonald’s Corp fell -0.92% after reporting system outages worldwide that caused the temporary closure of some restaurants.

US equity markets retreated as stronger-than-expected producer prices undermined an early rally, and with some major chipmakers recording fresh declines - Dow eased -138-points or -0.35%, with Amgen Inc (down -1.61%), Honeywell International (-1.69%), International Business Machines (IBM) Corp (-1.66%) and JPMorgan Chase & Co (-1.78%) all falling over >1.5%. 

US equity markets mostly weaker amid selling of chipmakers and ahead of wholesale inflation data tonight AEST - Dow added +38-points or +0.10%, paring an earlier rally of almost +200-points. Intel Corp dropped -4.44% after Bloomberg reported that the Pentagon had pulled out of a plan to spend as much as US$2.5B on a chip grant to the company. McDonald’s Corp -3.89% after the chief financial officer (CFO) said the fast-food giant's international sales could fall sequentially in the current quarter, pressured by the conflict in the Middle East and demand weakness in China.

US equity markets rallied despite mildly hotter-than-expected inflation figures - Dow rose +236-points or +0.61%. International Business Machines (IBM) Corp rose +3.16% following reports that it had notified employees in its marketing and communications division that it’s making cuts, becoming the latest large technology company to trim its payroll. Last year, IBM Chief Executive Arvind Krishna said the company was “massively upskilling all of our employees on AI [artificial intelligence]” as it replaces nearly 8,000 jobs with AI. 3M Co (up +4.97%), Microsoft Corp (+2.66%), Amazon.com Inc (1.99%) and Walmart Inc (+1.24%) also traded strongly.

US equity markets opened the new trading week mixed amid subdued trading ahead of key inflation figures tonight AEST - Dow added +47-points or +0.10%. Boeing Co fell -3.02% after The Wall Street Journal reported over the weekend the Justice Department has opened a criminal investigation into the Boeing 737 MAX jet that experienced a blowout on an Alaska Airlines flight in early January.

US equity markets retreated but not before both the S&P500 and Nasdaq touched fresh intra-day record peaks - Dow eased -68-points or -0.18%. Apple Inc rose +1.02%, snapping a seven session losing streak (its longest losing streak since early 2022). Meanwhile, the Department of Justice has launched a criminal investigation into the Boeing Co (down -2.24%) jetliner blowout that left a gaping hole on an Alaska Air Group Inc (-1.85%) plane on 5 January, the Wall Street Journal reported on Saturday (10 March).

US equity markets rallied, lifting both the S&P500 and Nasdaq back to record highs - Dow rose +130-points or +0.34%.

US equity markets advanced but trimmed gains in the closing hour of trading as investors digested Federal Reserve Chair Jerome Powell’s first day of congressional testimony - Dow added +76-points or +0.20%.

Technology stocks led declines on US equity markets overnight, with investors also eyeing Federal Reserve Chair Jerome Powell’s congressional testimony tonight AEST and labour market data later in the week - Dow fell -405-points or -1.04%. Apple fell -2.84% after a report by Counterpoint Research reported that the company sold 24% fewer iPhones in in China in the first six weeks of 2024 versus a year earlier. Overall smartphone sales declined 7% in the period, though sales for rival firm Huawei jumped 64%, according to the report. Apple is still rapidly losing market share in China, a country that also serves as a manufacturing base for the company, after Beijing last year banned government officials from using Apple phones. In another sign of weakness, Foxconn (or Hon Hai Precision Industry Co., Ltd), the Taiwanese company that assembles iPhones for Apple, said on Tuesday (5 March) that February sales fell -12% from a year earlier. Meanwhile, Intel Corp (down -5.37%) and Salesforce Inc (-5.05%) both declined over >5% to be the worst performers in the 30-stock index.

The US equity market rally stalled overnight, with both the S&P 500 and Nasdaq retreating from record highs - Dow eased -98-points or -0.25%. Apple Inc fell -2.54% after the European Commission, the European Union’s executive arm, hit the company with a €1.8B antitrust fine for abusing its dominant position in the market for the distribution of music streaming apps. Separately, the Federal Aviation Administration said its audit of 737 Max manufacturing at airplane-maker Boeing Co (up +0.27) and its key supplier turned up “multiple instances” of them failing to make sure manufacturing met quality standards.

US equity markets opened March with a bang, with both the S&P500 and Nasdaq logging fresh record highs - Dow added +91-points or +0.23%. Boeing Co fell -1.83% after confirming it is in “preliminary” talks to acquire Spirit AeroSystems Holdings Inc (+15.31%), the troubled fuselage supplier it spun off nearly 20 years ago, as the plane maker faces pressure to improve its safety record. Boeing said it believed that the “reintegration” of Spirit “would further strengthen aviation safety, improve quality and serve the interests of our customers, employees, and shareholders”.

US equity markets closed out the month with modest gains as investors digested the latest inflation data, with both the S&P 500 and Nasdaq recording record closing highs - Dow edged +15-points or +0.04%.