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US equity markets retreated as investors continued to ponder the latest observations from Federal Reserve Chair Jerome Powell delivered a day earlier, and comments from a parade of central bank officials overnight - Dow fell -208-points or -0.61%. Salesforce Inc rose ~0.8% in extending trading (after falling -0.96% in regular trading) following reports a fifth activist investor, Third Point LLC, had acquired a stake in the company. Salesforce has also been reportedly targeted by ValueAct Capital Partners LP, Elliott Investment Management LP, Starboard Value LP and Inclusive Capital amid slowing growth. The broader S&P500 shed -1.11%, with Communication Services (down -4.13%) leading all eleven primary sectors lower as Alphabet Inc shed -7.68% after the company held an event to show off its new artificial intelligence (AI) chatbot called Bard, one day after competitor Microsoft Corp (-0.31%) held an event to show off AI technologies in its competing search engine. Tesla Inc rose +% The Nasdaq dropped -1.68%. The small capitalisation Russell 2000 lost -1.52%. Traders noted there may be more clarity on the Federal Reserve’s next interest rate move with the publication of consumer price index, retail and inflation data next week.

US equity markets advanced after a volatile session as investors digested the latest observations from Federal Reserve Chair Jerome Powell - Dow gained +266-points or +0.78%, The broader S&P500 +1.29%, with Energy (up +3.08%), Communication Services (+2.48%) and Information Technology (+2.46%) climbing over >2.5% to lead eight of the eleven primary sectors higher. The more defensive Consumer Staples (down -0.36%), Real Estate (-0.31%) and Utilities (-0.08%) settled in the red. More companies announcing job cuts, with eBay Inc (up +0.38%) flagging plans to cut 500 jobs or ~4% of its workforce, according to a filing with the Securities and Exchange Commission (SEC). Zoom Video Communications Inc jumped +9.85% after the company announced plans to cut about 1,300 employees, or ~15% of its workforce. Chief Executive Officer (CEO) Eric Yuan wrote in a blog post shared to the company’s website that as the world continues to adjust to life after the pandemic, the company needs to adapt to the “uncertainty of the global economy” as well as “its effect on our customers.” The Nasdaq outperformed with +1.90% rally. The small capitalisation Russell 2000 +0.76%.

US equity markets retreated as investors eyed a fresh rise in Treasury yields following last Friday’s (3 February) jobs report, and a speech from Federal Reserve Chair Jerome Powell tonight AEST - Dow slipped -35-points or -0.10%, paring an earlier decline of over >240-points. The broader S&P500 fell -0.61%, with Communication Services (down -1.31%), Information Technology (-1.22%) and Materials (-1.08%) all declining over >1% to lead nine of the eleven primary sectors lower. The more defensive Utilities (up +0.87%) and Consumer Staples (+0.02%) were the only primary sectors to advance. The Nasdaq lost -1.00%. Dell Technologies Inc fell -3.03% after joining the ranks of other technology companies slashing jobs, confirming in a regulatory filing that it will be reducing its workforce by 5%. The small capitalisation Russell 2000 declined -1.40%. After Bed Bath & Beyond BBBY more than doubled regular trading (before settling +92.13% higher), the company revealed plans to sell convertible preferred stock as well as warrants to purchase common shares and convertible preferred stock. The stock tumbled over >30% in after hours trading.

US equity markets retreated on Friday (3 February) as investors digested the latest jobs report and any monetary policy implications - Dow fell -128-points or -0.38% despite Apple Inc (up +2.44%) bucking the weaker trend following the release of their fourth quarter result after the closing bell of last Thursday’s (2 February) session that saw revenue, profit, and sales fall short of consensus forecasts for many of its lines of business. Apple recorded its first revenue decline (down -5% year-on-year to US$117.15B versus consensus US$121.10B) since 2016. The stock reversed earlier session decline of ~2%

US equity markets climbed as investors seized on signs that interest rates are close to peaking on both sides of the Atlantic - Dow slipped -39-points or -0.11%, The broader S&P500 gained +1.47%, with Communication Services (up +6.74%) leading seven of the eleven primary sectors higher. Consumer Discretionary (+3.08%) and Information Technology (+2.78%) both climbed over >2.5%, while Energy sat at the foot of the primary sector leaderboard for a second straight session with a -2.52% decline. FedEx Corp rose +% buoyed by upgrades from Bank of America and Citi. The technology-centric Nasdaq outperformed for a third consecutive session, rallying +3.25% and remaining on track to log its fifth consecutive weekly gain. The index is ~19.5% above its recent low in late December and on the cusp of entering a bull market. Meta Platforms Inc soared +23.28% after providing better-than-expected first quarter revenue guidance after the close of the previous session. The small capitalisation Russell 2000 rose +2.06%.

US equity markets staged a late, sharp rebound as investors digested the latest observations from Federal Reserve Chair Jerome Powell following the conclusion of the central bank’s latest two day monetary policy meeting - Dow settled +7-points or +0.02% higher after sliding over >500-points earlier in the session. The broader S&P500 rose +1.05% to 4,119.21, reversing an earlier decline of almost 1% and settling at it highest level since August last year. Information Technology (up +2.29%) and Consumer Discretionary (+1.89%) rallied over >1.5% to lead ten of the eleven primary sectors higher. Energy (down -1.89%) was the only primary sector to settle in the red. Both the Dow and S&P 500 recorded their biggest intraday recovery from session lows since 13 October last year, according to Dow Jones Market Data. The Nasdaq rallied +2.00% to 11,816.32 and its highest level since mid-September last year, boosted by gains for chipmakers. Advanced Micro Devices Inc soared +12.63% after reporting a better-than-expected fourth quarter result after the close of the previous session. The small capitalisation Russell 2000 gained +1.49%.

US equity markets rallied as solid corporate earnings releases and encouraging inflation data pushed the S&P 500 to its best January since 2019 - Dow rose +369-points or +1.09%, The broader S&P500 gained +1.46%, with Materials and Consumer Discretionary both gaining +2.22% to lead all eleven primary sectors higher. PayPal Holdings Inc rose +2.32% following reports that Chief Executive Officer (CEO) Dan Schulman had sent an email to staff announcing plans to lay off ~2K employees or ~7% of the company’s workforce. PayPal said in August last year that it was targeting at least US$1.3B in cost savings during 2023. The technology-centric Nasdaq climbed +1.67%, cementing its best January performance since 2001 amid a broad-based rally in equities that saw some of 2022’s worst performers take the lead. The small capitalisation Russell 2000 gained +2.45%.

US equity markets retreated ahead of a week full of high-profile risk events, including key central bank interest rate decisions and economic data, and major US corporate earnings releases - Dow fell -261-points or -0.77%. The broader S&P500 dropped -1.30%, with Energy (down -2.29%), Information Technology (-1.94%), Communication Services (-1.80%) and Consumer Discretionary (-1.71%) all falling over >1.5% to lead ten of the eleven primary sectors lower. Consumer Staples (up +0.07%) was the only primary sector to advance. Johnson & Johnson (J&J) fell -3.70% after The Wall Street Journal (WSJ) reported that a federal appeals court rejected the consumer products and pharmaceutical company’s move to place its liabilities for tens of thousands of claims linking talc-based products to cancer into bankruptcy. The WSJ report said the talc bankruptcy case was dismissed, because the appeals court said J&J’s talc unit, LTL Management LLC, wasn’t in financial distress. J&J faced about 38,000 lawsuits, over links to the company’s Baby Powder to ovarian cancer, asbestos poisoning and other illnesses. The Nasdaq shed -1.96%. Three of the four largest U.S. companies by market value - Alphabet Inc (down -2.45%), Amazon.com Inc (-1.65%) and Apple Inc (-2.01%) - all fell ahead of release of their latest quarterly results after the market close on Thursday night AEST (2 February). The small capitalisation Russell 2000 lost -1.35%.

US equity markets rallied to cap a strong week that saw investors weigh a host of key corporate earnings releases and key economic data, and as investors eye another busy week ahead on the earnings calendar along with some key global central bank interest rate decisions – Dow edged +29-points or +0.08% higher to book a sixth consecutive session of gains and longest winning streak since late October last year. The broader S&P500 rose +0.25% to 4,070.56, recording its highest settlement since 2 December last year. The Consumer Discretionary sector gained +2.27% to be the leading primary sector performer on Friday (27 January) underpinned by the latest double-digit percentage rally for Tesla Inc (up +11.00%). Electric vehicle (EV) manufacturer Lucid Group Inc spiked +43.00% amid rumours that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, intended to take the company private. Energy (down -1.99%) was the worst performing primary sector but still sits +4.2% higher year-to-date. With 30% of the Energy sector's 23 companies having reported quarterly results so far, fourth-quarter earnings are expected to have climbed +60% from a year earlier, and +155% for full-year 2022, according to Refintiv IBES. But earnings for the Energy sector are expected to decline -15% this year, the biggest drop among the 11 S&P 500 sectors. Hasbro Inc tumbled -8.11% after the toymaker warned of weak holiday quarter results and said it would cut 1,000 jobs (equating to ~15% of its workforce). The Nasdaq gained +0.95% to 11,621.71, the technology centric indice’s highest close since 14 September last year. Intel Corp dropped -6.41% after the chipmaker’s fourth quarter result released after the closing bell of the previous session fell short of consensus analyst expectations, as did the accompanying outlook. The small capitalisation Russell 2000 rose +0.44% (to be up almost 7% month-to-date).

US equity markets rallied as investors continued to comb through the latest batch of corporate earnings releases, and after a stronger-than-expected fourth quarter gross domestic product (GDP) print - Dow rose +206-points or +0.61%, The broader S&P500 advanced +1.10% to 4,060.43 and a near two month high, with the Energy sector (up +3.32%), Consumer Discretionary (+2.03%), Communication Services (+1.65%) and Information Technology (+1.61%) all climbing over >1.5% and leading ten of the eleven primary sectors higher. More defensive sectors underperformed, with Consumer Staples (down -0.28%) the only primary sector to settle in the red. Tesla Inc jumped +10.97% after reporting a reported a mixed fourth quarter result after the close of the previous session. Chevron Corp rose +4.86% after announcing a US$75B stock buyback programme and a dividend hike (to US$1.51 per share from US$1.42) after the closing bell of Wednesday’s (25 January) session. The Nasdaq rallied +1.76%. The small capitalisation Russell 2000 gained +0.57%.