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US equity markets settled narrowly mixed as investors continued to eye Thursday night’s AEST (10 June) inflation report - Dow eased -30-points or -0.09% . The broader S&P500 eked out a +0.02% gain, touching an intra-session peak (4,236.74) above its record close (4,232.60) set on 7 May. Consumer Discretionary (+0.96%) led six of the eleven primary sectors higher. Utilities (down -0.91%) was the worst performing primary sector. Tesla Inc erased earlier gains to settle -0.25% lower despite data from Beijing reporting an increase in deliveries. The electric car maker delivered 33,463 China-made vehicles in that market in May, a +29% jump from April. The data had also showed China’s overall new electric vehicle sales had surged 177% compared with a year ago. Southwest Airlines Co rose +1.06% after the carrier provided May metrics and a June outlook that reflected improving leisure passenger traffic and fares. Southwest also said it recently entered into an agreement with Boeing Co (up +0.04%) to increase its 2022 orders by 34 Boeing 737 MAX 7 planes, bringing the total to 234 firm orders. Airline stocks more broadly turned higher after the Centers for Disease Control and Prevention eased travel recommendations for 61 countries, including Japan, France, South Africa, Canada, Spain and Italy. United Airlines Holdings Inc climbed +0.75% and Delta Air Lines Inc +2.08%. The Nasdaq rose +0.31%. The small capitalisation Russell 2000 rose +1.06%.

US equity markets settled modestly weaker following a session absent any notable catalysts and as investors eye Thursday night’s AEST (10 June) consumer price inflation (CPI) report for May - Dow lost -126-points or -0.36% to 34,630.24, having climbed above its 7 May record closing high (34,777.76) earlier in the session. The broader S&P500 dipped -0.08%, with Materials (down -1.23%) leading seven of the eleven primary sectors lower. Real Estate (up +0.91%) was the leading primary sector performer. Biogen Inc surged 38.3% following news that the Food and Drug Administration (FDA) approved its Alzheimer’s disease drug aducanumab.

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%.