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US equity markets fell sharply on Friday (21 February) to leave the benchmark indices nursing their first weekly falls in three weeks  - Dow fell -228-points or -0.78% (to 28,992.40), retreating below

US equity markets retreated, with the much of the selling being triggered mid-session and with investors struggling to pinpoint a particular catalyst for the sudden move - Dow fell -135-points or -0.46%, paring an earlier -388-point drop. Intel Corp (down -2.5%) was the worst performing index constituent. Coca Cola Co increased its quarterly dividend to US$0.41c per share from US$0.40c. The broader S&P500 fell -0.38% and the technology NASDAQ -0.72% after both indices hit record highs in the previous session. In merger and acquisition (M&A) news, Morgan Stanley announced a deal to acquire discount brokerage E*Trade Financial Corp in an all scrip transaction worth US$13B. The deal marks the largest takeover by a big US bank since the global financial crisis (GFC). Sprint Corp and T-Mobile US Inc have agreed their merger after tweaking the terms of the deal.

Fresh record highs for both the S&P500 and Nasdaq, with investors eyeing stimulus measures being mooted by Chinese authorities to mitigate the economic impact of the coronavirus epidemic - Dow up +116-points or +0.40%, with Apple Inc gaining +1.5%.  The broader S&P500 added +0.47% (to 3,386.15), with Energy (uop +1.32%) and Information Technology (+1.09%) leading seven of the eleven primary sectors higher. The NASDAQ gained +0.87% (to 9,817.48). Harley-Davidson Inc (up +0.8% in regular trading) announced after the market close that its board of directors had approved a +1.3% increase in their dividend to US$0.38 cents per share, an 1.3% increase. The board also authorised a stock buyback program of up to 10M shares of the company.

Apple Inc’s announcement after the close of the previous session that their second quarter earnings guidance was under pressure from the coronavirus impact weight on US equity markets  - Dow down -166points or -0.54% Apple Inc fell -1.8%, closing well off its session lows (US$314.61) that saw the stock down as much as -3.2%. The broader S&P500 -0.32%, General Electric Co fell -0.62% after The Wall Street Journal reported that the Trump administration may stop it from selling jet engines to China. However, the technology-centric NASDAQ inched +0.01% higher to eke out a fresh record closing high (9,732.74). Netflix Inc rose +1.9% to touch its highest level since July 2018.

US equity and bond markets were CLOSED overnight in observance of Presidents Day. Apple Inc warned earlier this morning AEST that it no longer expects to meet the revenue guidance it offered in late January for the quarter ending in March, citing the effects of the coronavirus. The company said in a statement posted to the Apple website that iPhone supply would be temporarily constrained, with manufacturing partners in China resuming production more slowly than had been anticipated, while the disease has also affected demand for Apple products in China.

US equity markets closed little changed heading into the holiday long weekend, with uncertainties surrounding the coronavirus epidemic and some downbeat economic data weighing on investor sentiment for much of the session  - Dow slipped -25-points or -0.09%, paring a decline of over >100-points earlier in the session.  The broader S&P500 edged +0.18% higher (to 3,380.16), with Real Estate (up +1.11%) and Utilities (+0.65%) leading eight of the eleven primary sectors higher. Energy (down -0.81%) was the worst performing primary sector. The technology-centric NASDAQ added +0.20% (to 9,731.18). Both the S&P500 and Nasdaq eked out fresh record closing highs. A CNBC report that the Trump administration could introduce a tax incentive for people earning less than

US equity markets eased back from record highs amid some fresh uncertainty around the coronavirus outbreak in China, which offset another round of solid corporate earnings releases - Dow fell -128-points or -0.40%. Boeing Co fell -0.75%, with Southwest Airlines Co (up +0.10%) saying that it will extend the period the 737 MAX planes are removed from flight schedules to 10 August from 6 June. The broader S&P500 dipped -0.16% after notching a fresh record intra-day high (3,385.09). NASDAQ slipped -0.13%but also logged a record intra-day high (9,748.32).

US equity markets continued to shrug off coronavirus fears, with all three benchmark indices carving out fresh record closing highs - Dow gained +275-points or +0.94% (to 29,551.42) , with United Health Group Inc (up +4.36%) and Nike Inc (+2.98%) alone contributing to approximately one third of the index’s gains. The broader S&P500 +0.65% (to 3,379.45), with Energy (up +1.36%) and Information Technology (+1.06%) the best performing primary sectors. NASDAQ gained +0.90% (to 9,725.96).

US equity markets posted modest gains, with both the S&P500 and Nasdaq edging their way to fresh record closing highs - Dow flat 29,276.34, paring an earlier +138-point climb. The broader S&P500 inched +0.17% higher (to 3,357.75). NASDAQ +0.11% (to 9,638.94). All three key indices touched fresh record intra-day highs earlier in the session. In merger and acquisition (M&A) developments, a US district judge approved a US$26B merger between T-Mobile US Inc (up +11.78%)and Sprint Corp (+77.50%).

US equity markets advanced, with both the S&P 500 and Nasdaq touching fresh record closing highs following another round of mostly solid fourth quarter earnings releases - Dow gained +174-points or +0.60% after dropping ~100-points at the start of the session. Microsoft Inc (up +2.62%) regained its title as the largest US company by market capitalisation., usurping Apple Inc. Boeing Co (up +2.35%), Visa Inc (+1.60%) and Cisco Systems Inc (+1.88%) also traded strongly. The broader S&P500 rose +0.73% (to 3,352.09), with Information Technology (up +1.35%), Consumer Discretionary (+1.26%) and Real Estate (+1.23%) all advancing more than >1% and leading ten of the eleven primary sectors higher. Energy (down -0.81% ) was the only sector to close in the red. NASDAQ rallied +1.13% (to 9,628.39). Amazon.com Inc rose +2.6% to break above US$2,100 per share for the first time. However, Apple Inc added +0.5%, recovering from an earlier slide amid concerns the outbreak will hurt production of the tech giant’s best-selling product, the iPhone. Foxconn, one of Apple’s biggest suppliers, got approval to resume production at a key China manufacturing plant (in Zhengzhou) but only 10% of its workforce has returned, Reuters reported. Separately, Samsung Electronics Co is scheduled to hold its “Galaxy Unpacked” event in San Francisco today, and the tech company is expected to unveil a host of new products.