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US equity markets resumed trading after the Good Friday long weekend with modest gains, climbing in the final hour of the session as investors digested last Friday’s (7 April) non-farm payrolls report and eyed the latest inflation figures and the start of the first quarter earnings season later this week – Dow rose +101-points or +0.30%. The Wall Street Journal (WSJ) reported Friday (7 April) that Exxon Mobil Corp (down -0.44%) has held informal talks with Pioneer Natural Resources Co (up +5.79%) about a possible acquisition. If a deal happens, it likely won’t come until later this year or next year, the WSJ report said. The broader S&P500 edged +0.10% higher, with Industrials (up +0.90%) and Energy (+0.65%) leading six of the eleven primary sectors higher overnight. Tesla Inc lost -0.30% after the company announced another round of price cuts on some vehicles in an attempt to spur demand. The electric vehicle maker also confirmed plans to build a megapack battery factory in Shanghai capable of assembling 10,000 giant batteries annually. The Nasdaq dipped -0.04% after dropping as much as -1.40% earlier in the session, with Apple Inc down -1.60% after market intelligence provider International Data Corp reported that global personal-computer shipments sank 29% from a year ago on weak demand, excess inventory and a worsening economic environment. Google parent Alphabet Inc lost -1.83%. Micron Technology Inc rallied +8.04% after its rival Samsung Electronics announced that it plans to cut memory chip production in the near term. A number of Wall Street analysts said the move could accelerate a return to supply-demand balance and potential rebound in the chipmaking sector. The small capitalisation Russell 2000 edged 0.13% higher. Tupperware Brands Corp sank -48.76% after the food-storage products maker issued a going-concern warning late Friday (7 April), saying it had hired financial advisers to help steer it through near-term challenges.

US equity markets weaker following a pair of soft economic reports - Dow added +80-points or +0.24%. The broader S&P500 slipped -0.25%, with Consumer Discretionary (down -2.04%) leading seven of the eleven primary sectors lower. The more defensive Utilities (up +2.57%) and Health Care (+1.73%) sectors sat at top of the primary sector leaderboard, while the Energy sector rose +1.42%. FedEx Corp rose +1.52% after the logistics giant announced plans to consolidate its operating companies into one organisation as part of an initiative called ‘Drive’, with the transition expected to be fully implemented in June 2024. The company expects the overall initiative to drive US$4B in permanent cost reductions in fiscal 2025. FedEx also plans to boost its annual dividend by +10% to US$0.44c per share. Costco Wholesale Corp fell over >2% in extended trading (after slipping -0.12% in the regular session) after the membership warehouse retailer reported its first monthly same-store sales (SSS) drop (down -1.1%) in nearly three years in March. The Nasdaq lost -1.07%, extending the technology centric indice’s decline into a third straight session. The small capitalisation Russell 2000 lost -0.99%.

US equity markets retreated as investors weighed fresh declines in factory orders, and data hinting at a softening labour market ahead of Friday’s (7 April) March jobs report - Dow fell -199-points or -0.59%. Walmart Inc slipped -~0.9% in extended trading (after falling -0.98% in regular trading) after the world’s largest retailer reiterated its guidance for the first three months of the 2023 and the full year at its investor day. In February, the Walmart forecast consolidated net sales in the first quarter to be 4.5% to 5% higher than a year ago, and adjusted earnings per share (EPS) of US$1.25-US$1.30. Johnson and Johnson rose over >2.5% in extended trading (extending a +1.05% rise in the regular session) after said it will pay US$8.9B over the next 25 years to settle allegations that the company’s baby powder and other talc products caused cancer. The company proposed the settlement in a securities filing. J&J’s subsidiary LTL Management also refiled for Chapter 11 bankruptcy protection after its first attempt was thwarted, the filing said. The broader S&P500 -0.58%, with Industrials (down -2.25%) and Energy (-1.72%) leading seven of the eleven primary sector lower. Ford Motor Co (up +0.32%) reported a +10.1% bump in U.S. vehicle sales during the first quarter as it sold 475,906 units. The Nasdaq -0.52%. The small capitalisation Russell 2000 lost -1.81%.

Both the Dow and S&P500 extended their rally into a fourth consecutive session as investors digested news of surprise crude production cuts by the Organisation of the Petroleum Exporting Countries (OPEC) and their key producing allies (a group known as OPEC+) that saw oil prices soar and potentially muddy the inflation picture - Dow gained +327-points or +0.98%. Health insurance giant UnitedHealth Group Inc was the leading index performer, rallying +4.57% after the Center for Medicare & Medicaid Services on Friday (31 March) announced updated payment rates. The agency said that Medicare Advantage plans would see an increase in revenue of more than 3% from 2023 to 2024. The advance notice of the payment scale had pegged the increase at just over 1%. Separately, Chevron Corp gained +416%, tracking strong crude prices. Walmart Inc (+0.84%) convenes a two-day investor meeting beginning tonight AEST . The broader S&P500 added +0.37%, with Energy (up +4.91%) the clear outperformer and leading seven of the eleven primary sectors higher. Marathon Oil Corp jumped +9.93% and Conocophillips +9.26%. Tesla Inc fell -6.12% after reporting on Sunday (2 April) that it delivered 422,875 vehicles in the first quarter, just shy of the 432K units projected by analysts. The technology centric Nasdaq eased -0.27%. The small capitalisation Russell 2000 dipped -0.01%.

US equity markets staged a broad-based rally on Friday (31 March) to close out a volatile March with monthly and quarterly gains - Dow gained +415-points or +1.26%. McDonald’s Corp (+up 0.66%) is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, The Wall Street Journal reported on Sunday (2 April).The broader S&P500 rose +1.44%, with Consumer Discretionary (up +2.62%), Real Estate (+2.18%) and Communications Services (+2.08%) all gaining over >2% to lead all eleven primary sectors higher. Tesla Inc (up +6.24%) reported on Sunday (2 April) that it delivered 422,875 vehicles in the first quarter, just shy of the 432K units projected by economists. The electric vehicle manufacturer also reported production of 440,808 units for the quarter. Tesla is due to report first-quarter earnings after the close of trading on 19 April. The technology-centric Nasdaq rallied +1.74%. The small capitalisation Russell 2000 climbed +1.93%. US equity and bond markets are CLOSED on Friday night AEST (7 April) for Good Friday.

US equity markets logged back-to- back gains ahead of the release of key inflation figures tonight AEST - Dow rose +141-points or +0.43%. Boeing Co rose +1.48%, with Reuters reporting that the company’s CEO of commercial airplanes Stan Deal said that the 737 MAX production rate would go higher “soon.” The broader S&P500 climbed +0.57%, with Real Estate (up +1.22%) and Information Technology (+1.14%) leading ten of the eleven primary sectors higher. Financials (down -0.37%) was the only primary sector to settle in the red. The Nasdaq rallied +0.72% to 12,013.47, touching its highest intra-session level since 15 February (12,044.79). The technology-centric index is up +17.6% from its most recent low hit on 28 December. The level needed to enter a new bull market is 12,255.95, according to Dow Jones Market Data. Chip stocks continued to perform strongly. The more concentrated Nasdaq-100 index (up +0.91%) which tracks the top 100 non-financial companies listed on the Nasdaq exchange, exited a bear market on Wednesday (29 March), and is currently up +21.4% from its 28 December 28 closing low, according to Dow Jones Market Data. Advanced Micro Devices Inc rose +1.86%, Intel Corp +1.81% and NVIDIA Corp +1.48%. The small capitalisation Russell 2000 eased -0.18%.

US equity markets rallied, with the S&P500 climbing back above the >4,000 level - Dow gained +323-points or +1.00%. Intel Corp jumped +7.61% following an investor presentation that provided more detail about the company’s plans to reverse a slide in manufacturing and market share of data-centre chips. The broader S&P500 climbed +1.42% to 4,027.81, marking the indice’s highest settlement since 6 March (which was only days before the collapse of Silicon Valley Bank (SVB) put a spotlight on risks in the U.S. banking system after the Federal Reserve’s yearlong stretch of quick rate hikes). Real Estate (up +2.31%) and Information Technology (+2.09%) both gained over >2% to lead all eleven primary sectors higher. Tesla Inc rose +2.48% and has added more than US$200B to its market capitalisation in the first three months of the year alongside what’s likely to be the best start to a year for the stock in its history. The electric-vehicle manufacturer as soared +54% so far in 2023, putting it on track to log its largest quarterly percentage gain since the fourth quarter of 2020, according to Dow Jones Market Data. The Nasdaq rallied +1.79%. Amazon.com Inc rose +3.10%, Meta Platforms Inc (+2.33%) and Netflix Inc (+2.63%) both rose over >2%. Apple Inc (up +1.98%) announced that its annual Worldwide Developers Conference (WWDC) will begin on 5 June and run through 9 June. WWDC is Apple’s biggest conference of the year and typically sees the company unveil new products and features, and provide a preview of where the company is heading. The small capitalisation Russell 2000 gained +1.08%.

US equity markets logged modest declines, with a fresh rise in Treasury yields weighing on technology stocks - Dow slipped -38-points or -0.12%, The broader S&P500 eased -0.16%, with Communication Services (down -1.02%) leading six of the eleven primary sectors lower. Energy (up +1.45%) sat atop the primary sector leaderboard for a second consecutive session. The Nasdaq lost -0.45%. Apple Inc fell -0.40% and Google parent Alphabet Inc -1.65%. The small capitalisation Russell 2000 dipped -0.06%.

US equity markets mostly advanced as investors welcomed waning signs of banking sector stress - Dow rose +195-points or +0.60%, with International Business Machines (IBM) Corp (up +3.21%) and JPMorgan Chase & Co (+2.87%) among the notable positive contributors. The broader S&P500 added +0.20%, with the Energy (up +2.10%) leading eight of the eleven primary sectors higher. Communication Services (down -1.08%) and Information technology (-0.85%) sat at the bottom of the primary sector leaderboard. The Nasdaq settled -0.47% lower. Apple Inc fell -1.23%, with a filing with the Securities and Exchange Commission (SEC) revealing that Chief Operating Officer (COO) Jeff Williams sold US$30M in stock last week. Mr Williams sale of 187,730 shares at an average price of US$159.76 was made in conjunction with a 10b5-1 trading plan, which lets executives and other company insiders arrange for stock sales to take place under certain conditions like timing and pricing. The small capitalisation Russell 2000 rose +1.08%.

US equity markets advanced after another volatile session as investors tried to shake off latest bank fears - Dow up +132-points or +0.41%. The broader S&P500 rose +0.56%, with more defensive sectors outperformed. Utilities (up +3.12%) and Real Estate (+2.57%) both rose over >2.5% to lead nine of the eleven primary sectors higher. Consumer Discretionary (down -0.35%) and Financials (-0.06%) were the only primary sectors to settle in the red. The Nasdaq added +0.31%. The small capitalisation Russell 2000 gained +0.85%. Block Inc fell -1.94%, extending the previous session’s -14.82% tumble after short seller Hindenburg Research announced that the payment company was its latest short position, alleging that Block allowed criminal activity to operate with lax controls and “highly” inflates Cash App’s transacting user base, a key metric of performance.