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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%.