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US equity markets a little weaker on Friday (5 August) after a solid July jobs report undermined recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation - Dow added +77-points or +0.23%, JPMorgan Chase & Co (up +3.03%) and Goldman Sachs Group Inc (+0.84%) The broader S&P500 slipped -0.16%, with Consumer Discretionary (down -1.66%) leading six of the eleven primary sectors lower. Energy (up +2.04%) returned to the top of primary sector leaderboard. Tesla Inc fell -6.63%, with shareholders at last Thursday’s (4 August) Annual General Meeting (AGM) approving a proposal expected to lead to a 3-for-1 stock split and sided with the company on most of the proposals up for a vote. The Nasdaq fell -0.5%. Meta Platforms Inc fell -2.03% and Amazon.com Inc -1.25%. The small capitalisation Russell 2000 rose +0.81%. Carvana Co soared +40.07% following the used car group’s second quarter result after the close of last Friday’s (5 August) session.

A mixed session on US equity markets ahead of the key monthly jobs report tonight AEST - Dow eased -86-points or -0.26%, The broader S&P500 dipped -0.08%, Consumer Discretionary (up +0.54%) and Information Technology (+0.42%) leading seven of the eleven primary sectors higher. The Nasdaq added +0.41% to a fresh 3-month high of 12,720.58, with Amazon.com Inc (up +2.19%) and Advanced Micro Devices (+5.93%) notable performers. Energy (down -3.60%) was the worst performing sector for a second consecutive session. The small capitalisation Russell 2000 lost -0.49%. Coinbase Global Inc jumped +10.01% after it announced a tie-up with BlackRock (+0.79%) to provide its institutional clients access to crypto trading and custody services.

Positive corporate earnings releases set a strong tone on US equity markets overnight, lifting the benchmark indices solidly across-the-board - Dow up +416-points or +1.29% to 32,812.50, settling ~9.8% above its 52-week closing low (29,653.29) hit on 17 June. The broader S&P500 +1.56%, Information Technology (up +2.69%), Consumer Discretionary (+2.52%) rising over >2.5% to lead ten of the eleven primary sectors higher. Energy (down -2.97%) was the only primary sector to close in the red. The Nasdaq rallied +2.58%. PayPal Holdings Inc rallied +9.52% after it raised its full year earnings guidance after the close of the previous session, announced a new US$15B share-buyback authorisation, a cost-savings program, and confirmed activist investor Elliott Management had acquired an over >US$2B stake in the financial technology firm. Apple Inc (3.82%) and Amazon.com Inc (+4.01%) both climbed over >3.5%, while Facebook parent Meta Platforms Inc (+5.37%) gained over >5%. There were reports that Meta may become the latest technology company to turn to the bond markets in a bid to raise capital. The S&P 500 and the Nasdaq are now up ~13% and ~19% respectively from their mid-June lows. The small capitalisation Russell 2000 rose +1.41%.

US equity markets fell as investors eyed US Speaker Nancy Pelosi’s visit to Taiwan and the latest commentary from Federal Reserve officials - Dow fell -402-points or -1.23%, The broader S&P500 lost -0.67%, with Real Estate (down -1.30%), Financials (-1.07%), Industrials (-1.05%) and Materials (-1.01%) all falling over >1% to lead all eleven primary sectors lower. The Nasdaq slipped -0.16%. The small capitalisation Russell 2000 dipped -0.05%. Pinterest Inc jumped +11.61% as activist investor Elliott Investment Management become the largest shareholder of the digital pin-board firm.

US equity markets opened August with modest declines, with all three benchmark indices snapping a three session winning streak - Dow fell -47-points or -0.14%, Boeing Co rallied +6.13% to lead Dow gainers after the aerospace and defence giant reportedly cleared a hurdle with the Federal Aviation Administration (FAA) that could allow it to resume deliveries of its 787 airliner. The FAA said it would approve Boeing’s process for validating fixes to each 787 plane before they are delivered to customers, according to an Associated Press report. Separately, The Wall Street Journal reported that Boeing’s defence manufacturing plants will vote on Wednesday (3 August) on a labour contract proposal, which temporarily delays a strike that was scheduled to begin as soon as Monday. The broader S&P500 -0.28%, with Energy (down -2.18%) leading seven of the eleven primary sectors lower. Chevron Corp fell -2.00% and ExxonMobil Corp -2.53%. Consumer Staples sat atop the primary leaderboard with a +1.21% gain. The Nasdaq -0.18% despite a solid session for chipmakers, with Advanced Micro Devices Inc up +2.45% ahead its quarterly result tonight AEST, Intel Corp +1.79%, Micron Technology Inc +1.10% and Nvidia Corp +1.53%. Apple Inc (down -0.62%) raised US$5.5B via the issuance of four series of bonds with ratings of AAA from Moody’s Investors Service and AA+ from S&P Global. The small capitalisation Russell 2000 lost -0.10%. Automotive oil, additives and lubricant maker Valvoline Inc (down -2.70%) it has reached an agreement with Saudi Arabian Oil Co (Aramco) to sell its global products business for US$2.65B in cash.

US equity markets extended their July rebound, with the benchmark indices logging their biggest monthly gains since 2020 - Dow rose +316-points or +0.97%, The broader S&P500 +1.42%, with Energy (up +4.51%) and Consumer Discretionary (+4.27%) rose over >4% to lead nine of the eleven primary sectors higher on Friday (29 July). Consumer Staples (down -0.72%) and Health Care (-0.35%) were the only primary sectors to settle in the red. The Nasdaq +1.88%. Amazon.com Inc jumped +10.36% after forecasting higher third quarter revenue amid higher fees from its Prime loyalty programmes after the close of the previous session. Apple Inc rose +3.28% after delivering fiscal third quarter sales and earnings per share (US$1.20 versus consensus US$1.16) after the close of last Thursday’s (28 July) session that were a touch ahead of Wall Street estimates, underpinned by strength in iPhone sales. Intel Corp dropped -8.56% after the chipmaker’s second quarter earnings undershot consensus forecasts by a wide margin and the company cut its full year outlook after the closing bell of the previous session. Listed chipmaking peer Advanced Micro Devices gained +3.05% to lift its market capitalisation (US$153B) above Intel Corp (US$148B) The small capitalisation Russell 2000 rose +0.65%.

US equity markets extended their rebound, with both the Dow Jones Industrial Average and S&P500 booking their highest closes in nearly seven weeks - Dow rose +332-points or +1.03% to 32,529.63. The broader S&P500 gained +1.21% to 4,072.43, with Real Estate (up +3.7%) and Utilities (+3.53%) rallying over >3.5% to lead ten of the eleven primary sectors higher (after being relative underperformers in the preceding two sessions). Communication Services (down -0.74%) was the only primary sector to settle in the red. The Nasdaq +1.08%. Facebook parent Meta Platforms Inc fell -5.22% after the social media giant reported disappointing second-quarter results after the closing bell of the previous session accompanied by a third-quarter outlook that was markedly below Wall Street estimates. The small capitalisation Russell 2000 rose +1.34%.

US equity markets rallied strongly as investors digested the latest monetary policy pronouncements from the Federal Reserve and another busy night on the US corporate earnings calendar - Dow gained +436-points or +1.37%. Walmart Inc rebounded +3.8% The broader S&P500 rallied +2.62%, with Communication Services (up +5.11%), Information Technology (+4.29%) and Consumer Discretionary (+3.85%) leading all eleven primary sectors higher. More defensive sectors underperformed for a second session running, with Utilities adding +0.11% and Real Estate +0.55%.The Nasdaq soared +4.06% to 12,032.42, logging its best daily rise since April 2020. The small capitalisation Russell 2000 gained +2.39%. The overnight gains also marked the biggest rally on a Fed decision day since December 2008, the day the Fed slashed its benchmark interest rate target to between 0% and 0.25% for the first time in history.

US equity markets weaker on the eve of the latest monetary policy decision and pronouncements from the Federal Reserve, and amid a flood of corporate earnings releases - Dow fell -229-points or -0.71%, Walmart Inc fell 7.60% after the big box retailer downgraded its fiscal second quarter and full year profit guidance after the close of the previous session, citing the impacts of inflation. The broader S&P500 -1.15%, with Consumer Discretionary (down 3.31%) as Walmart’s result weighed on the sector, leading eight of the eleven primary sectors lower. Target Corp dropped -3.6%, Kohl’s Corp -9.12% and Nordstrom Inc -5.78%. Shopify Inc tumbled -14.06% after the payments provider announced it’s laying off ~10% of its global workforce, citing a pullback in online spending and saying it misjudged how long the pandemic-fueled e-commerce boom would last. The e-commerce retailer releases its quarterly result tonight AEST. More defensive sectors outperformed, with Utilities up +0.61% and Health Care +0.55%. The Nasdaq -1.87%. The small capitalisation Russell 2000 lost -0.69%

A mixed trading session on Wall Street left both the Dow and S&P500 nursing modest gains and settle higher for the fourth session in the past five ahead of the busiest week of the second quarter US corporate earnings calendar - Dow added -91-points or +0.28%. Chevron Corp was the best performing index constituent overnight. Walmart Inc fell over >9.5% in extended trading (after dipping -0.14% in the regular session) after the big box retailer downgraded its fiscal second quarter and full year profit guidance, citing the impact of inflation The company now expects adjusted earnings per share (EPS) to fall between 8% and 9% for the second quarter and between 11% and 13% for the full year. Boeing Co fell -0.96%, with workers expected to go on strike on 1 August at three plants in the St. Louis area after they voted to reject a contract offer from the plane maker. The broader S&P500 edged +0.13% higher, with Energy (up +3.71%) leading eight of the eleven primary sectors higher. Consumer Discretionary (down -0.85%) and Information Technology (-0.61%) were the worst performing primary sectors overnight. Tesla Inc fell -1.40% after the electric vehicle maker disclosed in its latest first quarter filing that it received a second subpoena from the Securities and Exchange Commission (SEC) asking the company to provide information on its “governance processes around compliance with the SEC settlement” related to Chief Executive Elon Musk’s 2018 tweet about taking the company private at US$420 a share. The Nasdaq fell -0.43%, Amazon.com Inc (down -1.05%), Google-parent Alphabet Inc (0.14%) and Microsoft Corp (-0.59%) all a touch weaker ahead of their results tonight AEST. The small capitalisation Russell 2000 rose +0.60%. All of the benchmark indices remain on track for their best monthly performance calendar year-to-date.