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US equity markets showed solid gains across the board last night- Dow up +614-points or +1.85%. The broader S&P500 +2.47%. while the Nasdaq +3.06%. The small capitalisation Russell 2000 +1.80%. Information Technology (+4.04%), Communication Services (+3.88%) and Energy (+3.13%) led the gains, as all primary sectors ended in the green. The Technology sector was helped by a +17.5% rise in Meta (formally Facebook), after the company said it had added more users than expected in the first quarter. Shares were down -48% on the year heading into the results. Qualcomm gained +9.7% on the back of strong earnings, while PayPal rose +11.5% despite issuing weak guidance for the second quarter. On the contrary, Teladoc shares plunged about +40.2% after the company reported weaker-than-expected results.

US equity markets logged modest gains after an earlier rally fizzled and with investors digesting another busy night on the corporate earnings calendar - Dow up +62-points or +0.19%, paring an earlier rally of as much as . The broader S&P500 added +0.21% to 4,183.96. A close below 4,168.44 would see the index enter correction territory (defined as a pullback of at least 10% - but not more than 20% - from a most recent peak). The S&P 500 previously suffered a correction on 22 February, when it closed at 4,304.76, down -10.25% from its early January record close. Energy (up +1.48%), Materials (+1.48%) and Information Technology (+1.36%) all rose over >1% to lead five of the eleven primary sectors higher. Communication Services (down -2.62%) was the worst performing primary sector overnight. The Nasdaq dipped -0.01% to 12,488.93, settling at its lowest level of 2022 to date. The small capitalisation Russell 2000 down -0.34%.

US equity markets fell sharply as China's COVID-19 curbs and fears of aggressive U.S. Federal Reserve tightening continued to damp risk appetite and lifted the dollar to new two-year highs - Dow tumbled -809-points or -2.38% . The broader S&P500 -2.81% to 4,175.2, settling slightly above its closing low this year of 4,170.70 logged on 8 March. Consumer Discretionary (down -4.99%), Information Technology (-3.71%) and Communication Services (-3.16%) leading ten of the eleven primary sectors lower. The Energy sector was the only primary sector to advance, eking out a +0.04% rise. Twitter Inc fell -3.9% to US$49.68 a day after the board agreed to sell the social-media company to Elon Musk for US$54.20 per share, or ~US$44B. The technology-centric Nasdaq slumped -3.95%, booking its largest daily percentage drop since 8 September, 2020 and its lowest close since 14 December, 2020, according to Dow Jones Market Data. The index sits ~23% below its most recent record peak. The small capitalisation Russell 2000 shed -3.26%.

US equity markets rebounded from steep falls last Friday (22 April) albeit there was no obvious catalyst, staging their biggest intra-session turnaround in two months - Dow settled +238-points or +0.70% higher, recovering from an earlier session decline of as much as -488-points or -1.44% top log its biggest intra-day recovery since 24 February. The broader S&P500 rose +0.57%, with Communication Services (up +1.53%) and Information Technology (+1.44%) both climbing over >1% to lead seven of the eleven primary sectors higher. Energy was the big underperformer, down -3.34%. Chevron Corp fell -2.15% and Exxon Mobil Corp -3.37%. The technology centric Nasdaq gained +1.29%, buoyed by a retreat in bond yields. The Nasdaq is now sits 19.8% from its most recent record peak. Microsoft Corp gained +2.44%, Google-parent Alphabet Inc +3.04% and Meta Platforms Inc +1.56%. Twitter Inc’s rallied +5.66% after the board agreed to sell the social-media company to Elon Musk, changing course after initially gearing to fight the takeover attempt. The social-media company disclosed that the board had unanimously accepted the Tesla Inc (down -0.66%) chief executive’s offer to buy out the company for US$54.20 per share, or ~US$44B. The takeout price is ~38% ahead of Twitter’s close on 1 April, prior to when Mr Musk disclosed he had taken an ~9% stake in the company. Netflix Inc (down -2.60%) fell for a fourth consecutive session and settled near a four year low. The streaming giant has tumbled over >42% in the past four trading sessions since reporting a deeply disappointing first quarter result. The small capitalisation Russell 2000 added +0.70%. Dow tumbled -981-points or -2.82%, the index’s biggest single day decline since 28 October, 2020. UnitedHealth Group Inc fell -3.07%, shaving more than 100 points off the Dow. Caterpillar Inc fell -6.55%, also lopping almost 100-points of the 30-stock average. The broader S&P500 -2.77%, with Materials (down -3.73%), Health Care (-3.63%), Communication Services (-3.30%) and Financials (-3.00%) all declining 3%+ and leading all eleven primary sectors lower. The Nasdaq -2.5%. The small capitalisation Russell 2000 lost -2.55%. For the week, Dow lost -1.86%, its fourth straight weekly decline. The S&P500 -2.75%. Nasdaq -3.83%

US equity markets retreated, selling off in the afternoon session after Federal Reserve Chairman Jerome Powell added his support for moving faster on raising interest rates to cool inflation, including through a potential 50 basis point hike in May - Dow down -368-points or -1.05%, recording an intra-day swing of more than >700-points. The broader S&P500 fell -1.48%, with the Energy sector (down -3.10%) leading all eleven primary sectors lower. Tesla Inc advanced +3.23% after the electric vehicle maker posted better-than-forecast earnings after the close pf the previous session, aided byprice hikes. The Nasdaq shed -2.07%, unwinding an earlier session rally of as much as +1.9%. Netflix Inc fell -3.52%, extending the previous session’s -35.12% slump after the streaming giant reported a net loss of -200K paid subscribers in the first quarter after the close of Tuesday’s (19 April) session. The small capitalisation Russell 2000 lost 2.29%. Gap Inc fell over >11% in the extended session trading after the clothing retailer said Old Navy Chief Executive Nancy Green would be leaving the company by the end of the week and that it expects a larger-than-expected sales declines for the fiscal first quarter because of “macro-economic dynamics as well as the execution challenges at the Old Navy brand.” Gap said it now expects first-quarter sales to decline in the “low to mid-teens year over year,” compared with a previously forecast decline of “mid to high single-digit year over year.”

US equity markets mixed as investors waded through another busy day on the corporate earnings calendar - Dow up +250-points or +0.71%, paring an earlier rally of as much as +404-points. The broader S&P500 dipped -0.06%, with Communication Services falling -4.07% to be one of three primary sectors that settled in the red overnight. Consumer Discretionary fell -1.36% and Information Technology -0.13%. Real Estate (up +1.85%), Consumer Staples (+1.46%) and Health Care (+1.34%) all climbed over >1%. The Nasdaq fell -1.24%, with Netflix Inc tumbling -35.12% - its steepest single-day percentage decline since it fell a record 40.9% on 15 October, 2004 - on heavy volume after the streaming giant reported a net loss of -200K paid subscribers in the first quarter after the close of Tuesday’s (19 April) session, much worse than the 2.5M net additions expected by analysts. The fall saw ~US$54B shaved off Netflix’s market capitalisation. The small capitalisation Russell 2000 added +0.37%.

US equity markets rallied as investors navigated one of the busiest weeks of the first quarter corporate earnings season, with three (3) Dow constituents posting results overnight - Dow up +500-points or +1.45% . The broader S&P500 +1.61%. Consumer Discretionary (up +2.91%), Real Estate (+2.12%) and Communication Services (+2.07%) all gained over >2% to lead ten of the eleven primary sectors higher. Energy (down -0.96%) was the only primary sector to settle in the red. The Nasdaq rallied +2.15%. Twitter Inc fell -4.73% after the Wall Street Journal reported late Monday (18 April) that the social media company is expected to formally rebuff Elon Musk's US$54.20 per share offer in the coming days and that private-equity powerhouse Apollo Global Management Inc was considering whether to join in a bid. CNBC later reported that Apollo’s interest was focused on lending money to potential purchasers, not on a private-equity-style buyout. Twitter is slated to reports on 28 April. The small capitalisation Russell 2000 gained +2.04%.

US equity markets retreated for a second straight session as trading resumed following the Easter break, relinquishing gains in the final hour of the session as the first quarter earnings season prepared to move into full swing - Dow eased -40-points or -0.11% . The broader S&P500 dipped -0.02% despite a +1.51% rally for the Energy sector. Healthcare (down -1.12%) and Consumer Staples (-0.81%) led six of the eleven primary sectors lower. The Nasdaq slipped -0.14%. Twitter Inc gained +7.48% to US$48.45 after Elon Musk last Thursday (15 April) offered to buy the social media company for US$54.20 a share last. Twitter adopted a limited duration shareholder rights plan, often called a “poison pill,” a day after Mr Musk’s US$43B offer. Under the new structure, if any person or group acquires beneficial ownership of at least 15% of Twitter’s outstanding common stock without the board’s approval, other shareholders will be allowed to purchase additional shares at a discount. The plan is set to expire on 14 April, 2023. The small capitalisation Russell 2000 lost -0.74%.

US equity markets rallied and settled near their session highs - Dow up +344-points or +1.01% . The broader S&P500 gained +1.12%, with Consumer Discretionary (up +2.51%) and Information Technology (+1.59%) leading nine of the eleven primary sectors higher. Utilities (down -0.17%) and Financials (-0.08%) were the only primary sectors to close in the red. Airlines got a boost from Delta Air Lines’ solid quarterly result, with American Airlines Group Inc up +10.62% and Southwest Airlines Co +7.54%. Costco Wholesale Corp (up +1.67%) announced after the closing bell that it had approved a quarterly payout of 90 cents a share, or US$3.60 a year, up from 79 cents a quarter, or US$3.16 a year. The Nasdaq +2.03%, with chipmakers rebounding. Nvidia Corp rose +3.25%, Advanced Micro Devices Inc +2.78% and Qualcomm Inc +3.24%. PayPal Inc dropped -2.85% following an announcement from Walmart Inc (on Tuesday (12 April) that it had hired PayPal executive John Rainey as its new chief financial officer (CFO). The small capitalisation Russell 2000 gained +1.92%. Gap Inc rose +8.23% after a report from Activist Insight speculating the clothing retailer could be a potential activist target.

US equity markets settled with modest gains after a choppy session as investors weighed the latest inflation figures - Dow eased -88-points or -0.26% after climbing as much as +362 points earlier in the session. The broader S&P500 lost -0.34%, unwinding an earlier gain of as much as +1.30%. Financials (down -1.07%) led seven of the eleven primary sectors lower. Energy returned to the top of the primary sector leaderboard with a +1.72% gain, with Occidental Petroleum Corp up +2.11% and Chevron Corp +2.08%. The Nasdaq slipped -0.29%, having been up as much as +2.04% at its session peak. The small capitalisation Russell 2000 added +0.33%.