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US equity markets retreated as longer dated Treasury yields climbed to nine month highs - Dow slipped -67-points or -0.19%, The broader S&P500 eased -0.25%, with Utilities (down -2.29%) and Real Estate (-1.35%) leading nine of the eleven primary sectors lower and dragging the index lower for a third straight session. PayPal Holdings Inc tumbled -12.32% Energy (up +0.95%) and Consumer Discretionary (+0.34%) were the only primary sectors to advance. The Nasdaq dipped -0.10%. Qualcomm Inc shed -8.18% The small capitalisation Russell 2000 eased -0.28%.

US equity markets retreated a day after Fitch Ratings lowered its U.S. debt ratings to AA+ from the top AAA category, pointing to its growing debt burden and “erosion of governance” over the past two decades - Dow fell -348-points or -0.98%, with Intel Corp down -3.94% and Walt Disney Co -3.07%. The broader S&P500 dropped -1.38%, booking its biggest daily percentage decline since 25 April. The technology-centric Nasdaq shed -2.17%. Advanced Micro Devices Inc dropped -7.02% despite the chipmaker posting better-than-expected second quarter adjusted earnings per share and revenue after the close of the previous session. Amazon.com Inc (-2.64%) and Apple Inc (-1.55%) declined ahead of the release of their quarterly results tonight AEST, while Alphabet Inc (down -2.41%), Microsoft Corp (-2.63%) and Nvidia Corp (-4.81%) all fell over >2%. The small capitalisation Russell 2000 lost -1.37%. Chinese tech names JD.com Inc (down -4.47%) and Baidu Inc (-4.24%) fell more than >4% after China proposed limits on smartphone use for minors.

A mixed session for US equity markets to open August as investors continued to assess a raft of quarterly earnings releases and eyed Friday night’s AEST (4 August) key non-farm payrolls report - Dow added +71-points or +0.20%, touching its highest intra-session level since February 2022 earlier in the session. The broader S&P500 eased -0.27%, pulling back from a 16-month high. Utilities (down -1.26%) and Consumer Discretionary (-1.15%) both declined over >1% to lead nine of eleven primary sectors lower overnight. Tesla Inc fell -2.38% following reports that almost 300K Tesla Model 3s and Model Ys are the subject of a fresh investigation by the National Highway Traffic Safety Administration into their steering after a dozen complaints alleging loss of steering control. Industrials (up +0.32%) and Information Technology (+0.09%) were the only primary sectors to advance. The Nasdaq -0.43%. Apple Inc (down -0.43%) and Amazon.com Inc (-1.49%) The small capitalisation Russell 2000 lost -0.45%.

US equity markets logged modest gains to close out July amid optimism over corporate earnings and a resilient economy, and ahead of a busy week in terms of quarterly results and economic releases - Dow up +100-points or +0.28% at 35,559.53, the 30-stock index’s highest settlement since 9 February, 2022. The broader S&P500 edged +0.15% to 4,588.96, logging its highest close since 30 March, 2022 and settling ~4.3% below its record closing high of set on 3 January, 2022. Energy rallied +2.0% to lead eight of the eleven primary sectors higher. Health Care (down -0.79%) and Consumer Staples (-0.46%) sat at the foot of the primary sector leaderboard overnight The Nasdaq added +0.21%. The small capitalisation Russell 2000 rallied +1.09%.

US equity markets closed out the week on positive note on Friday (28 July), with investors buoyed by upbeat corporate earnings releases and cooling inflation data - Dow rose +177-points or +0.5%, Intel Corp rallied +6.60% after the chipmaker’s second-quarter earnings released after the close of last Thursday’s (27 July) session recorded a return to profitability after two straight quarters of losses, accompanied by stronger-than-expected third quarter forecast The broader S&P500 gained +0.99% to 4,582.23, logging its highest close since 4 April, 2022. Communication Services (up +2.30%) sat atop the primary sector leaderboard on Friday (28 July) for a third straight session, while Consumer Discretionary (+1.85%) and Information Technology (+1.48%) gained over >1%. The more defensive Real Estate and Utilities sectors both declined -0.26% and were the only primary sectors to settle in the red. The Nasdaq rallied +1.90%, with Alphabet Inc rising +2.46% to log its highest close in more than a year (US$132.58), and extending its weekly gain to +10.56% following their strong second quarter result earlier in the week. The small capitalisation Russell 2000 gained +1.36%. Roku Inc soared +31.41% ) after the streaming company’s second quarter results released after the close of the previous session topped consensus estimates at the top and bottom line.

US equity markets retreated, with the Dow Jones Industrial Average snapping it longest winning streak since 20 January, 1987 as Treasury yields climbed following stronger-than-expected second quarter economic growth figures - Dow lost -237-points or -0.67% after rising for thirteen consecutive session. The broader S&P500 fell -0.64%, with Real Estate (down -2.12%), Utilities (-1.73%) and Financials (-1.29%) all falling over >1% to lead ten of the eleven primary sectors lower. Communication Services (up +0.85%) was the only primary sector to settle in positive territory. The Nasdaq eased -0.55%. Meta Platforms Inc rallied +4.40% The small capitalisation Russell 2000 lost -1.29%.

US equity markets settled little changed after a choppy session that saw investors digest a host of quarterly results and the latest interest rate decision and monetary policy pronouncements from the Federal Reserve - Dow added -82-points or +0.23%, marking the 30-stock index’s 13th consecutive gain and longest winning streak since 20 January, 1987. One more day in the green and the blue-chip gauge will be able to claim its longest winning streak in more than 125 years (noting that the Dow was created in May 1896). The broader S&P500 dipped -0.02%, with Information Technology (down -1.30%) leading six of the eleven primary sectors lower. Communication Services sat atop the primary sector leaderboard with a +2.65% rally, underpinned by a strong gain for Alphabet Inc (up +5.78%) after the search giant reported better-than-expected second quarter earnings per share and revenue after the close of the previous session. The Nasdaq slipped -0.10%. Microsoft Corp fell -3.76% as investors continued to digest the company’s latest quarterly result released after the close of the previous session. The small capitalisation Russell 2000 gained +0.72%.

US equity markets drifted higher ahead of the release of second quarter results from major technology companies after the closing bell - Dow edged +27-points or +0.08% higher to 35,438.07, extending its rally into a 12th consecutive session to and recording its highest close since February, 2022. The broader S&P500 added +0.28%, with Materials (up +1.76%) and Information Technology (+1.19%) rising over >1% and leaving five of the eleven primary sectors higher overnight. Financials (down -0.83%) sat at the foot of the primary sector leaderboard. The Nasdaq rose +0.61%. The small capitalisation Russell 2000 eked out a +0.02% gain.

US equity markets advanced to kick off a busy week of key quarterly earnings releases, central bank meetings and inflation data - Dow rose for an eleventh straight session, up +184-points or +0.52% to 35,411.24. The 30-stock index logged its highest close since 9 February, 2022 and secured its longest winning streak since the 12-day trading period that ended on 27 February, 2017. The broader S&P500 gained +0.40% to 4,554.64, settling ~5% shy of it record closing high of 4,796.56 set on 3 January, 2022. Energy (up +1.66%) led nine of the eleven primary sectors higher, while the more defensive Utilities (down -0.28%) and Health Care (-0.23%) sectors sat at the foot of the primary sector leaderboard. Chevron Corp gained +1.97% after releasing a second-quarter performance update on Sunday (23 July) that was better than expected ahead of the oil major’s earnings announcement this Friday night AEST (28 July). Adjusted earnings per share (EPS) of US$3.08 (down ~47% year-on-year) topped consensus forecasts for US$2.97. The Nasdaq edged +0.19% higher, with investors eyeing second quarter earnings from a number of technology heavyweights this week including Alphabet Inc (up +1.26%), Meta Platforms Inc (down -0.90%) and Microsoft Corp (+0.39%). The small capitalisation Russell 2000 added +0.28%.

US equity markets little changed on Friday (21 July) after a choppy trading session that saw the monthly expiration of US$2.3 trillion of listed stock options (the largest on record), and with investors preparing for a major rebalancing of the Nasdaq-100 after the closing bell (designed to diminish the concentration risk) - Dow eked out a +2.5-point or +0.01%, securing its tenth consecutive session advance and longest winning streak since 7 August, 2017. The broader S&P500 inched +0.03% higher. The Nasdaq slipped -0.22%. Nvidia Corp (down -2.66%) and Microsoft Corp (-0.89%) are the two companies most affected by the Nasdaq rebalancing. The small capitalisation Russell 2000 lost -0.35%.