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•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

•The S&P500 and Nasdaq climbed to fresh record highs - Dow down -60-points or -0.21% a day after S&P Dow Jones Indices announced an overhaul of its composition of the blue chip index (that included the removal of near 100-year member Exxon Mobil Corp (down -3.17%). Apple Inc logged its first decline in six sessions, settling -0.82% lower. Boeing Co fell -1.99%. The broader S&P500 gained +0.36% The technology-centric NASDAQ +0.76% to 11,466.17, logging its 38th record closing high of 2020. Facebook Inc rose +3.47%, buoyed by an upgrade from UBS. In merger and acquisition (M&A) news, Cisco Systems Inc announced it intends to acquire BabbleLabs, which has developed noise-removal and speech-enhancement technology. Terms were not disclosed.

•Fresh records for both the S&P500 and Nasdaq to begin the new trading week, with sentiment buoyed by reports of further advanced on the COVID-19 vaccine development front - Dow up +378-points or +1.35% to 28,308.46, settling above >28,000 for the first time in six months and just 4.2% shy of its 12 February record closing high. Boeing Co (up +6.43%) provided the biggest positive contribution. The broader S&P500 gained +1.00% to a fresh record closing high (3,431.28) and first close above >3,400. Energy (up +2.75%) and Financials (+2.32%) led ten of the eleven primary sectors higher, with Health Care (down -0.54%) the only sector to settle in the red. Travel and Leisure stocks traded strongly amid the latest encouraging COVID-19 vaccine headlines, with United Airlines Holdings Inc up +9.93% American Airlines Group Inc +10.53% and Delta Air Lines Inc +9.28%, while cruise operator Carnival Corp rallied +10.17%. The technology-centric NASDAQ +0.62%, hitting both a record closing (11,379.72) and intra-day (11,462.05) high. Apple Inc rose +1.2% and touched a fresh record high (US$515.14). Elsewhere, Facebook Inc rose +1.64%, Amazon.com Inc +0.69% and Google parent Alphabet Inc +0.49%. Twitter Inc rose +3.13% (to US$40.49), logging its highest close since 7 October, 2019. In merger and acquisition (M&A) news, Blackstone Group Inc rose 0.62% after Takeda Pharmaceutical Co announced it would sell its consumer health care business for 242B yen (~US$2.3B) to the U.S. private equity giant. Separately, diversified industrial company NN Inc fell -7.74% after the company said it has agreed to sell its Life Sciences unit to affiliates of American Securities LLC in a deal worth US$825M.

•Fresh record closing highs for the S&P500 and Nasdaq following some solid economic data and with Apple Inc rallying over >5% - Dow up +191-points or +0.69%. The broader S&P500 gained +0.34% to 3,397.16, logging its second record close of the week. Information Technology (+1.21%) was comfortably the best performing primary sector, leading seven of the eleven primary sectors higher. Energy (down -0.63%) and Materials (-0.53%) were the key laggards. Delta Air Lines Inc announced plans to resume 50 flights on the international route (including to Tokyo, Seoul, Beijing and Shanghai) this northern hemisphere winter and in 2021 that were suspended due to the COVID-19 pandemic. The technology-centric NASDAQ +0.42% to 11,311.80 and carving out its 36th record close of 2020. Apple Inc (up +5.15%) touched a record intra-day high (US$499.47) and marked its best 4-week performance (up %) since April 2009, according to Dow Jones Market Data. The small capitalisation Russell 2000 index fell -0.8%. Tesla Inc (up +2.41% to US$2,049.98) logged its first close above US$2,000 per share. Since announcing their respective stock splits last month, Apple Inc has gained ~29% and Tesla Inc ~53%.

•US equity markets retreated a day after both the S&P500 and Nasdaq set fresh records - Dow fell -85-points or -0.31%. The broader S&P500 lost -0.44% after logging a fresh record intra-day high (3,399.54)) earlier in the session. Real Estate (down -2.01%) was the worst performing sector, with all eleven primary sectors closing in the red. Southwest Airlines Co edged +0.32% higher after reporting a “modest” uptick in leisure demand this month as travellers booked last minute trips despite the pandemic. The technology-centric NASDAQ shed -0.55%. Apple Inc rose +0.13%, settling well off earlier highs (US$468.65. up +1.26%) that saw if become the first US company to attain a market capitalisation of US$2 trillion. Apple first reached a US$1 trillion market capitalisation on 2 August, 2018. On 31 July, Apple passed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company. The small-capitalisation Russell 2000 index closed +0.2% higher, extending a streak of outperformance that has it up +6.7% in the past month. In broader stock moves, recreational vehicle (RV) maker Winnebago Industries Inc said that its board of directors has approved a 9% dividend increase to US$0.12c per share (payable on 30 September to shareholders of record as of 16 September). Winnebago in June posted quarterly earnings above Wall Street expectations thanks to a surge in RV sales amid the pandemic.

US equity markets advanced, with both the S&P500 and Nasdaq setting fresh records - Dow eased -67-points or -0.24%. The broader S&P500 gained +0.23% to 3,389.78, logging its first record closing high since 19 February and recovering all its losses made since the onset of the coronavirus crisis. It has taken the S&P500 126 trading sessions to finish at a new record level after falling by at least 20%, which defines a bear market. Oracle Corp gained +2.20% following a CNBC report the company is discussing a deal for TikTok’s U.S., Canada, Australia and New Zealand operations. The technology-centric NASDAQ +0.73% to 11,210.97, notching its 34th record closing high of 2020. Amazon.com Inc outperformed with a +4.% gain.

•US equity markets mostly higher, with the Nasdaq logging its fifth record closing high for the month to date - Dow down -86-points or -0.31%. Home Depot Inc gained +2.74% ahead of their second quarter result before the opening bell tonight AEST, with the Wall Street Journal reporting foot traffic at the home improvement retailer has soared at least 35% since April despite the pandemic. Listed peer Lowe’s Companies Inc, which releases their second quarter result on Wednesday night AEST (19 August) gained +2.64%. The broader S&P500 added +0.27% (to 3,381.99), trading above its 19 February record closing high (3,386.15) earlier in the session. Consumer Discretionary sector (up +1.21%) led seven of the eleven primary sectors higher, with Financials (down -1.54%) the clear underperformer. The technology-centric NASDAQ outperformed with a +1.03% gain (to 11,129.73). Tesla Inc (up +11.2% to a record close of US$1,835.64) climbed above >US$1,800 per share for the first time, buoyed by an analyst upgrade at Wedbush who cited accelerating sales in China. Friday (21 August) is the record date for Tesla’s 5-for-1 stock split. Nvidia Corp rallied +6.7% (to US$493.48) ahead of the company’s second quarter result on Wednesday night AEST (19 August), pushing the chipmaker’s market capitalisation above >US$300B for the first time and consolidating its place as the largest US chip company. In merger and acquisition (M&A) headlines, Amazon.com Inc rose +1.09%, with Reuters reporting that the e-commerce giant wants a minority stake in cloud company Rackspace Technology (+10.30%).

US equity markets ended the week in muted fashion as the latest retail sales figures suggested consumer spending had lost some steam - Dow edged +34-points or +0.12% higher, moving into positive territory in the final minutes of trading. The broader S&P500 dipped -0.02%, with gains for the Energy (up +0.94%) and Industrials (+0.42%) sectors offset by declines for Utilities (down -0.91%) and Health Care (-0.22%). The technology-centric NASDAQ eased -0.21%. For the week, the Dow gained +1.81%, S&P500 +0.64% and Nasdaq +0.08%. Applied Materials Inc rose +3.92% after the company’s fiscal third quarter numbers and fourth quarter outlook released after the closing bell of the previous session exceeded analysts’ forecasts. Google-parent Alphabet Inc (down -0.71%) and Apple Inc (-0.09%) settled with modest losses, with Epic Games, the maker of “Fortnite,” launching a legal battle and accusing the technology giants of illegally exploiting a monopoly on app and in-app purchases.