•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