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US equity markets advanced amid some signs of progress in negotiations for a new fiscal stimulus deal. - Dow settled +113-points or +0.40% higher at 28,308.79, off an earlier session pean of 28,575.03. Goldman Sachs Group Inc rose +1.2% after Bloomberg reported that the bank agreed to a more-than-US$2B settlement with the U.S. Justice Department for its role in Malaysia’s 1MDB scandal. The broader S&P500 rose +0.47%, with Energy (up +1.13%) leading ten of the eleven primary sectors higher. The Nasdaq added +0.32%. The Justice Department formally charged Alphabet Inc’s (up +1.39%) parent company Google with antitrust violations. “Google is a monopolist in the general search services, search advertising, and general search text advertising markets,” according to the Justice Department’s complaint filed in federal court in Washington, D.C. overnight. “Google aggressively uses its monopoly positions, and the money that flows from them, to continuously foreclose rivals and protect its monopolies.” Intel Corp (down -2.11%) confirmed a rumour circulated by The Wall Street Journal in announcing it has reached a deal to sell its flash-memory manufacturing business to South Korea’s SK Hynix Inc for ~US$9B

US equity markets retreated as Washington lawmakers continued to struggle to agree a deal on a fresh coronavirus stimulus package ahead of a Tuesday deadline that would make a relief package possible ahead of the 3 November elections - Dow down -411-points or -1.44, unwinding an earlier rally of over >200-points. Intel Corp rose +0.8% after The Wall Street Journal reported the company was near to a deal to sell its memory-chip business for $10 billion. The broader S&P500 dropped -1.63%, with Energy (down -2.10%) and Information Technology (-1.88%) leading all eleven primary sectors into the red. ConocoPhillips shed 3.2% after it confirmed reports from last week that it would buy Concho Resources Inc in an all-stock deal valued at US$9.7B. Both the Dow and S&P500 logged their worst session since 23 September. Nasdaq fell -1.61%, recording its sharpest single session drop since 2 October and first five day losing streak since August 2019. Apple Inc (down -2.55%), Microsoft Corp (2.48%)and Amazon.com Inc (-2.0%) all fell more than >2% Zoom Video Communications Inc closed +1.67% higher, touching a record high of $588.84.

US equity markets retreated following another big day on the third quarter earnings calendar - Dow fell -166-points or -0.58% . Walmart Inc (down -1.6%) that it will offer “Black Friday Deals for Days” throughout November, both online and in stores. There are three events planned, starting online on 4 November. The broader S&P500 -0.66%, with Consumer Discretionary (down -1.43%) leading eight of the eleven primary sectors lower. The technology-centric Nasdaq lost -0.80%. Amazon.com Inc (down -2.32%) fell over >2% to lead most of the Big Tech complex lower. In merger and acquisition (M&A) news, ConocoPhillips fell -1% after a Bloomberg news report it was in talks to buy Concho Resources CXO, citing people familiar with the matter.

US equity markets climbed to cap a strong week, with the market processing another round of coronavirus stimulus headlines - Dow gained +161-points or +0.57%, with Microsoft Corp (up +2.48%) and Salesforce.Com Inc (+2.21%) the leading index performers. The broader S&P500 +0.88%, with Information Technology (up +1.54%) and Consumer Discretionary (+1.50%) leading eight of the eleven primary sectors higher. Energy (down -1.59%) was the clear underperforming sector. AT&T Inc lost -0.3% after the Wall Street Journal reported that the company is planning thousands of job cuts in its Warner Media unit as it seeks to cut costs by up to 20%. The technology-centric Nasdaq rose +1.39%. Amazon.com Inc (up +3.01%) host their 2020 Prime Day on the 13 and 14 October. It’s usually a summertime event, but was delayed by the coronavirus pandemic. The small capitalisation Russell 2000 index added +0.50%. In merger and acquisition (M&A) activity, the Wall Street Journal reported that Advanced Micro Devices Inc (down -4.1%) is in advanced talks to buy rival chipmaker Xilinx Inc (up 12%), citing people familiar with the matter. The deal could be valued at more than >US$30B and marking the latest big tie-up in the rapidly consolidating semiconductor industry.

Benchmark US equity indices climbed to their highest levels in five weeks as optimism continued to build around fresh fiscal stimulus measures - Dow settled +122-points or +0.43% higher. International Business Machines Corp (IBM) gained +5.98% to lead the Dow higher after the company announced its plan to spin off the Managed Infrastructure Services unit of its Global Technology Services business into a new publicly-traded company by the end of 2021. IBM has trimmed its legacy businesses over the years to focus on cloud, aiming to make up for slowing software sales and seasonal demand for its mainframe servers. McDonald’s Corp fell 0.3% despite the fast-food giant reporting third-quarter same-store sales that exceeded forecasts and said it was raising its dividend by 3%. The broader S&P500 +0.80%, with Energy (up +3.78%) the clear outperformer and leading all eleven primary sectors higher. The technology-centric Nasdaq rose +0.50%. In merger and acquisition (M&A) news, Eaton Vance Corp surged +48.14% after Morgan Stanley (+0.6%) agreed to buy the asset manager for ~US$7B in a cash-and-stock deal.

US equity markets rebounded, buoyed by President Trump urging Congress to pass a series of smaller, standalone bills that would include a bailout package for the airline industry battered by the coronavirus pandemic - Dow rallied +531-points or +1.91%. The broader S&P500 +1.74%, with Materials, Consumer Discretionary, and Industrials all logging gains of over >2% and leading all eleven primary sectors higher. Eli Lilly and Co rose 3.4% after saying it had submitted a request to the U.S. Food and Drug Administration for emergency use of its experimental COVID-19 antibody treatment. The technology-centric Nasdaq gained +1.83%.

US equity markets retreated after President Trump said he would put negotiations on a new fiscal stimulus package on hold until after the 3 November election - Dow fell -376-points or -1.34%, handing back an earlier rise of over >200-points. Boeing Co dropped -6.81% after the aircraft maker forecast an 11% drop in demand for commercial planes in the next decade and, in a separate outlook for the commercial aviation market, said it sees passenger-traffic growth to increase by an average of 4% a year in the next two decades. The broader S&P500 -1.40%, with the Consumer Discretionary (2.13%), Communication Services (-1.98%), Information Technology (-1.59%) and Energy (-1.52%) all logging falls over of over >1.5%. Utilities (up +0.85%) was the only primary sector to advance. The Nasdaq dropped -1.57%, with the major technology names under pressure amid reports that a House subcommittee that has investigated anticompetitive business practices for more than a year is set to recommend splitting them up and limiting the scope of their future acquisitions. Amazon.com Inc fell -3.01%, Google parent Alphabet Inc -2.19% and Facebook Inc -2.26%. Apple Inc (down -2.87%) announced it would hold an online event on 13 October that’s expected to bring the launch of its new family of iPhones.

US equity markets rallied, buoyed by positive updates on President Trump’s health and as investors continued to eye potential fresh stimulus measures - Dow settled +466-points or +1.68% higher.