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US equity markets logged modest losses, settling well off their session lows as investors digested some mixed economic data - Dow eased +63-points or -0.18%, paring an earlier decline of as much as -274-points. The broader S&P500 slipped -0.16%. Materials (down -1.09%) and Energy (-1.06%) both fell over >1% to lead eight of the eleven primary sectors lower. Consumer Discretionary (up +0.44%), Real Estate (+0.16%) and Information Technology (+=0.06%) were the only primary sectors to advance. The Nasdaq edged +0.13% higher. The small capitalisation Russell 2000 dipped -0.07%. Tonight AEST marks “quadruple witching”, the simultaneous expiration of individual stock options, stock-index options, stock-index futures and single-stock futures, which can drive higher trading volume and volatility.

US equity markets rebounded, buoyed by some solid economic data and fresh gains on crude markets - Dow up +237-points or +0.68% . The broader S&P500 gained +0.85%, with Energy (up +3.82%) leading ten of the eleven primary sectors higher. Utilities (down –0.15%) was the only primary sector to close in the red. Gaming companies were under pressure, tracking falls on the Hong Kong market following news of a move by the Chinese government to increase oversight on the casino industry. MGM Resorts International dropped -2.49%, Las Vegas Sands Corp -1.71% and Wynn Resorts Ltd -6.30%. The Nasdaq +0.82%, marking the technology-centric index’s best day since 30 August. Microsoft Corp gained +1.68% after announcing a dividend increase and a sizable US$60B share repurchase program. The small capitalisation Russell 2000 rose +1.11%.

US equity markets retreated despite cooler-than-expected August inflation figures - Dow fell -292-points or -0.84% . Boeing Co (down -1.36%) released their annual market outlook overnight and predicts the global fleet of commercial airplanes will climb from 25,900 in 2019 to 49,405 planes by 2040, with almost 90% those planes being new models that will enter service over the period. In addition, Boeing is projecting the global aerospace industry, including defence and services, will reach US$9 trillion over the next decade, up +US$500B from the same forecast last year. It is also the largest amount the company has ever projected for the industry over a 10-year period. The broader S&P500 shed -0.57%, logging its sixth decline in the past seven sessions. Energy (down -1.55%), Financials (-1.41%), Industrials (-1.23%) and Materials (-1.17%) all fell over >1% and led all eleven primary sector lower. The Nasdaq lost -0.43%. Apple Inc fell -0.96% after the company held its annual product launch event overnight and detailed their new iPhones, iPads and smartwatches. The new iPhone 13 series features Apple’s new A15 Bionic chip, a system-on-a-chip designed in-house, and a video tool called “cinematic mode”, which allows users to hold focus on a subject even when they are moving. The small capitalisation Russell 2000 lost -1.37%.

The Dow and S&P500 snapped a five session losing streak - Dow up +262-points or +0.76%, with 23 of the indice’s 30 components advancing . The broader S&P500 added +0.23%. Energy (up +2.94%) led eight of the eleven primary sectors higher. Health Care (down -0.61%) was the worst performing primary sector overnight. The Nasdaq dipped -0.07%, extending its decline into a fourth consecutive session. Apple Inc added +0.39% ahead of its annual product launch event tonight AEST, where the company is expected to unveil its iPhone 13 line-up as well as new smartwatches, headphones and possibly more. Separately, Epic Games has filed an appeal to last Friday’s (13 September) ruling in its lawsuit against Apple, calling on a higher court to re-examine the case and overturn the judge’s ruling. Few details were provided about the legal basis for Epic’s appeal, but it is likely to continue to press on the federal antitrust allegations dismissed by the court. The small capitalisation Russell 2000 up +0.59%. In merger and acquisition (M&A) news, Intuit Inc (down -1.76%) announced that it will acquire email marketing company Mailchimp for US$12B in cash and stock.

US equity markets fell on Friday night AEST (10 September) to cap their worst week in nearly three months as renewed concerns about inflation dented optimism over continued central bank support for financial markets - Dow down -272-points or -0.78% . Apple Inc fell -3.31% after a federal judge in the Epic Games Inc case issued an injunction that said the company can no longer force developers to use its payment system, effectively bypassing commission fees of 15% to 30%. However, the iPhone maker was not ruled an antitrust monopolist. The split decision could signal a major shift in the way apps are distributed to consumers and could have even deeper implications for other operators of dominant online platforms such as Google parent Alphabet Inc (down -1.86%) and Amazon.com Inc (-0.43%) The broader S&P500 lost -0.77%. Utilities (down -1.38%) and Real Estate (-1.23%) both fell over >1% on Friday night AEST (13 September) to lead all eleven primary sectors lower. The Nasdaq shed -0.87%. The small capitalisation Russell 2000 fell -0.96%. In merger and acquisition news (M&A), rail operator Kansas City Southern said in a statement Sunday that it has notified rival bidder Canadian National that it intends to terminate a merger agreement and make a US$31B deal with Canadian Pacific Railway Ltd. Canadian National (CN) still has five business days to negotiate amendments to its offer, and the Kansas City Southern board could determine that a revised CN offer is better.

Dow and S&P500 extended their decline into a fourth straight session overnight - Dow down -152-points or -0.43% . The broader S&P500 settled -0.46% lower. Real Estate (down -2.12%) was the worst performing primary sector. The Financials sector (up +0.25). Ford Motor (down -2.07%) announced that it is ending vehicle production in India, shutting down its two large plants there and terminating thousands of employees, as Chief Executive Officer Jim Farley restructures the automaker’s operations as part of a turnaround plan. the actions will cost about US$2B, including pretax special charges of about US$600M in 2021 and US$1.2B in 2022. The Nasdaq eased -0.25%, registering back-to-back losses for the first time since mid-August. The small capitalisation Russell 2000 dipped -0.03%.

The Dow and S&P500 declined for a third straight session - Dow down -69-points or -0.20% . The broader S&P500 slipped -0.13%, with Energy (down -1.30%) and Materials (-1.02%) both falling over >1%. More defensive sectors outperformed, including Utilities (up +1.79%) and Consumer Staples (+0.77%). Swiss investment bank UBS raised its S&P 500 price target for the end of the year to 4,650 and for 2022 to 4,850. UBS acknowledged that equities are likely to have a pullback at some point, “likely driven by another reset in real yields higher, but other tailwinds should drive the S&P 500 to a new high by year end.” The Nasdaq fell -0.57%, its first fall in five sessions and a day after logging its 36th record closing high (15,374.33) of 2021. The small capitalisation Russell 2000 lost -1.14%. Coinbase Global Inc fell -3.2% after the cryptocurrency exchange revealed it received a notice of possible enforcement action from the Securities and Exchange Commission over lending practices.

US equity markets logged a mixed session after resuming trading following the Labor Day holiday - Dow fell -269-points or -0.76%, with 3M Co (down -4.53%) and Honeywell International Inc (-2.38%). Boeing Co fell -1.80% after budget airline Ryanair Holdings Plc (-1.96%) ended talks over a purchase of 737 MAX 10 jets. The broader S&P500 eased -0.34%. Ford Motor Co rose +0.47% after the company announced that it had hired former Tesla Inc (+2.64%) executive Doug Field to take over as chief advanced technology and embedded systems officer, which will put him in charge of next-generation technology in Ford automobiles. Mr Field had been serving as the vice president of “special products” at Apple after previously working at Tesla as senior vice president of engineering. The Nasdaq inched +0.07% higher to 15,374.33, securing its 36th record closing high of 2021. Apple Inc gained +1.55% and logged its third consecutive record closing high (US$156.69) after the technology giant scheduled an event for 14 September at which a new line of iPhones is expected to be unveiled. Supply chain checks for the second half of the year suggest about 130M to 150M iPhones will be built, with ~35%-to-45% of those built in the third quarter appearing to be the new iPhones to be announced, according a research note from Wedbush analyst Daniel Ives published on Tuesday (7 September). Apple has also been working on augmented and mixed reality technology for more than five years, while The Wall Street Journal recently reported that the company is working to include more health-related features its next Apple Watch, such as a blood pressure monitor and a thermometer to help with fertility planning. The small capitalisation Russell 2000 lost -0.72%.

AUD softer - buying ~74.37 US cents. The Reserve Bank of Australia (RBA) announces its latest interest rate decision this afternoon and is expected to leave their benchmark rate unchanged (with more focus likely to be on any commentary around their bond buying stimulus programme). A final reading of Building Permits for July and the Ai Group Services index for August are also on today’s Australian economic calendar.

US equity markets were modestly weaker on Friday night as investors grappled with the implications of a much weaker than expected US jobs report for August, with some market participants betting weaker data could undercut the case for the Federal Reserve to unwind its market-supportive easy money policies in coming months - Dow down -74-points or -0.21%, with American Express Co (down -1.70%) the worst performing index component. The broader S&P500 dipped -0.03%, with gains for the Information Technology sector (up +0.38%) offset by falls for the Utilities (down -0.80%) and Materials (-0.69%) sectors. The Financials sector (down -0.58%) fell despite Treasury yields climbing. The Nasdaq added +0.21% to 15,363.52 and logging its 35th record closing high of 2021. The small capitalisation Russell 2000 %. Russell 2000 lost -0.52%. Didi Global Inc ADRs rose +2.38% and gained +9.73% for the week after a Bloomberg News report that Beijing is eyeing a plan to take the troubled ride-hailing giant under state control by acquiring a stake through government-run firms. Didi is under a cybersecurity review after the Cyberspace Administration of China alleged the company had illegally collected users’ data. The ride-hailing giant was forced to stop signing up new users and its app was also removed from Chinese app stores. US equity and bond markets are CLOSED tonight AEST for the Labor Day holiday.