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US equity markets weaker as investors continued to monitor Russia-Ukraine updates and China’s latest COVID-related lockdown ahead of the Federal Reserve’s latest monetary policy decision on Thursday morning AEST (17 March) - Dow settled unchanged , relinquishing an earlier rally of as much as +450-points. Apple Inc fell -2.66% after its supplier and biggest assembler of iPhones Hon Hai Precision Industry Co Ltd, known as Foxconn Technology Group, suspended operations in China's Shenzhen amid rising COVID-19 cases. There were separate reports that Foxconn is in talks with Saudi Arabia about jointly building a US$9B multipurpose facility that could make microchips, electric-vehicle components and other electronics like displays, according to people familiar with the matter. Taiwan-based Foxconn is also reportedly talking with the United Arab Emirates about potentially siting the project there. Intel Corp and Salesforce.Com Inc fell -3.12% and -2.4% respectively. However, American Express Co and Visa Inc were among the Dow’s top gainers, adding +2.9% and +1.8% respectively. The broader S&P500 fell -0.74%, with Energy (down -2.89%) and Information Technology (-1.90%) leading seven of the eleven primary sectors lower. Financials (up +1.25%) was the best performing primary sector overnight. The S&P 500 booked its first death cross - where the 50-day moving average crosses below the 200-day moving average - since March of 2020. The technology-centric Nasdaq dropped -2.06%, with chipmakers under particular pressure. Qualcomm Inc fell -7.25% and Nvidia Corp -3.48%. The small capitalisation Russell 2000 declined -1.92%. The U.S.-listed shares of Alibaba Group Holding Ltd sank -10.3% as the China-based e-commerce giant continues to suffer from a broad selloff in China’s stock market amid the threat of delisting of shares of China-based companies in the U.S. Hong Kong’s Hang Seng index fell -4.97% yesterday (14 March), while mainland Chinese stocks were also weaker (Shanghai Stock Exchange down -2.60%, with the Shenzhen Component Index shed -3.08%)

US equity markets retreated on Friday (11 March), with the losses accelerating into the close and all three major benchmarks booking another week of losses, after President Joe Biden called for a suspension of normal trade relations with Russia as part of sanctions designed to economically isolate Moscow for its unprovoked attack in Ukraine - Dow fell -265-points or -0.69%, relinquishing modest opening gains. Nike Inc (down -2.70%) and Apple Inc (-2.39%) were among the key index drags. The broader S&P500 -1.30% to 4,204.31. Communication Services (-1.88%), Information Technology (-1.80%) and Consumer Discretionary (-1.79%) led all eleven primary sectors lower. Oracle Corp rose +1.53% despite releasing a mixed third quarter result after the close of last Thursday’s (10 March) session. A Securities and Exchange Commission (SEC) filing late Friday (11 March) revealed that Berkshire Hathaway Inc (up +0.41%) spent more than US$1.5B last week to buy a further 27.1M shares in Occidental Petroleum Corp (down -0.31%), lifting the company’s stake in the energy company to 118.3M shares worth more than >US$6.9B - or ~12% of the outstanding shares. The latest purchases made Occidental Petroleum the 9th largest reported holding of Warren Buffet’s investment vehicle’s holdings of publicly-traded U.S. shares. Separately, Berkshire Hathaway on Friday (11 March) urged the rejection of four shareholder proposals recommending that it replace Warren Buffett as chairman, report on its plans to handle climate risk and reduce greenhouse gases, and improve diversity. The Nasdaq shed -2.18%. The small capitalisation Russell 2000 lost -1.59%. Ride share and food delivery company Uber Technologies (up +1.15%) announced that it is imposing a temporary fuel surcharge (ranging from US$0.45c to US$55c that will be in effect for two months) that will go directly to drivers to help mitigate the impact of soaring gas prices (which hit a record high of US$4.43 per gallon last week, up US$0.79 in the past two weeks).

US equity markets retreated as investors braced for central banks to tighten monetary policy despite Russia’s invasion of Ukraine - Dow eased -112-points or -0.34% . Goldman Sachs Group Inc (-1.11%) became the first major Wall Street bank to pull out of Russia, saying it was winding down its business in Russia, in accordance with the relevant regulatory and licensing rules. The announcement came after the investment bank disclosed a credit exposure to Russia of US$650M. FedEx Corp (up +1.18%) announced that chief executive officer and president Donald Colleran will retire 31 December. The broader S&P500 lost -0.43%, with Information Technology (down -1.76%) led six of the eleven primary sectors lower. Energy (up +3.07%) returned to the top of the primary sector leaderboard overnight, with Chevron Corp up +2.74% and Exxon Mobil Corp +3.10%. The technology-centric Nasdaq -0.95%, with Apple Inc (down -2.72%) and Meta Platforms (-1.66%) among the key drags. However, Amazon.com Inc gained +5.41% and logged its second best daily rise of 2022 after the company announced a 20-for-1 stock split and US$10B buyback after the closing bell of the previous session. The small capitalisation Russell 2000 slipped -0.23%.

US equity markets snapped a four session losing streak, with investor sentiment shifting ahead of a European Union (EU) summit tonight AEST when leaders will discuss a new growth and investment model and ways to reduce dependence on Russian energy - Dow gained +654-points or +2.00%, climbing out of official correction territory. Goldman Sachs Group Inc (up +3.80%), JPMorgan Chase & Co (up +4.01%), Nike Inc (+4.74%) and Salesforce.Com (+5.77%) were among the leading index performers. The broader S&P500 +2.57%, logging its best daily percentage gain since 5 June 2020. Information Technology (up +3.98%), Financials (+3.61%), Communication Services (+3.45%) and Materials (+3.01%) all gained over >3% to lead nine of the eleven primary sectors higher. Energy fell -3.18%. General Electric Co gained +3.5% to extend their bounce off at 14-month low after the industrial conglomerate disclosed a new US$3B stock repurchase program. The technology centric Nasdaq jumped +3.59%, dragging itself out of official bear market territory and best daily percentage gain since 9 March, 2021. Netflix Inc gained +4.98%, Microsoft Corp +4.59%, Meta Platforms +4.31% and Alphabet Inc +4.97%. The small capitalisation Russell 2000 rallied +2.71%.

US equity markets retreated, with the S&P500 settling at its lowest level since June 2021 after yet another volatile session - Dow down -185-points or -0.56%, unwinding an earlier +585-point rally. The broader S&P500 lost -0.72%, and pushing deeper into official correction territory. Consumer Staples (down -2.64%) and Healthcare (-2.11%) both declined over >2% to lead nine of the eleven primary sectors lower. Energy (up +1.39%) was yet again the leading primary sector, with Chevron Corp up +5.24%. Airlines and cruise lines also advanced. Delta Air Lines Inc rose 3.69%, American Airlines Group Inc +5.22% and United Airlines +3.32%, while Norwegian Cruise Line Holdings Ltd rose +3.77%. General Electric Co (up +3.24%) announced that its board authorised a $3B share buyback programme. The technology-centric Nasdaq -0.28% a day after entering an official bear market. Apple Inc (down -1.17%) staged its spring product launch event. The company unveiled a slew of new products on Tuesday, including a new iPad Air, the high-powered Mac Studio computer and the successor to one of its best-value phones, the iPhone SE. The small capitalisation Russell 2000 bucked the weaker trend, adding +0.60%.

•US equity markets fell sharply, with investors rattled by the risk of energy sanctions cascading through the economy - Dow dropped -797-points or -2.37%, with American Express Co (down -7.99%) the worst index performer. The broader S&P500 shed -2.95%, pushing deeper into official correction territory (down more than >12% from its most recent record close). Energy (up +1.57%) was once again the best performing primary sector, with Chevron Corp up +2.14% and Exxon Mobil Corp +3.60%. Utilities (up +1.31%) was the only other primary sector to advance. Consumer Discretionary (down -4.80%) was the worst performing primary sector overnight, while Communication Services (-3.74%), Information Technology (-3.70%), Financials (-3.66%) and Materials (-3.49%) all fell over >3%. The technology-centric Nasdaq slumped -3.62% to 12,830.96 and settled in bear market territory, down by more than >20% from its 19 November, 2021 peak. The small capitalisation Russell 2000 fell -2.48%. In broader stock moves, Bed Bath & Beyond soared 34.18% after GameStop Chairman Ryan Cohen revealed he had a nearly 10% stake in the retailer, through his investment company RC Ventures.

US equity markets retreated and bond markets rallied on Friday (4 March) as investors sought out havens amid the escalating war between Russia and Ukraine - Dow down -180-points or -0.53%, paring an earlier decline of over >500-points. American Express Co (down -3.86%), JPMorgan Chase & Co (down 2.81%) and Goldman Sachs Group Inc (-1.12%) were notable laggards. However, more defensive names like Walmart Inc (up +2.53%) and UnitedHealth Inc Group Inc (+2.48%) outperformed. The broader S&P500 -0.79%. Financials (down -1.96%), Information Technology (-1.78%) and Consumer Discretionary (-1.51%) all fell over >1.5% to lead six of the eleven primary sectors lower. Energy (up +2.85%) once again sat atop the primary sector leaderboard, while Utilities gained +2.19%. Occidental Petroleum jumped +17.59%. In a filing late Friday (4 March), Berkshire Hathaway said it holds a total of 113.7M shares of Occidental, including both the stock and warrants. The combined holding represents 11.2% of Occidental’s outstanding shares but that overstates Berkshire’s investment since the warrant exercise price is out of the money (or above the current stock price). Travel and leisure-related companies were under fresh pressure, with American Airlines Group Inc down -7.13%, Delta Air Lines Inc -5.58% and United Airlines Holdings Inc -9.07%. The Nasdaq -1.66%. Apple Inc (down -1.56%) hosted its annual shareholder meeting on Friday (4 March) and stages its spring product launch event on Tuesday night AEST (8 March). Microsoft Corp (down -2.05%) and Netflix Inc (-1.72%) announced they were suspending new sales and services in Moscow. The small capitalisation Russell 2000 -1.56%. For the week, Dow lost -1.30%, logging its fourth straight weekly decline. The S&P500 shed -1.27% and the Nasdaq -2.78%.

Technology stocks weighed on US equity markets - Dow down -97-points or -0.29% after trading in positive territory for much of the session. The broader S&P500 settled -0.53% lower, with Consumer Discretionary (-2.29%) and Information Technology (-1.24%) leading four of the eleven primary sectors lower. More defensive sectors outperformed overnight, with Utilities (up +1.72%) and Real Estate (+1.10%) both gaining over >1%. The Nasdaq fell -1.56%. Apple Inc (down -0.20%) holds its annual shareholder meeting tonight AEST (2 March). The small capitalisation Russell 2000 lost -1.39%.

US equity markets rebounded sharply and a powerful rally in debt markets reversed as Federal Reserve chair Jay Powell signalled that the US central bank would raise interest rates this month despite economic uncertainty created by Russia’s invasion of Ukraine - Dow up +596-points or +1.79%, with all 30 index components advancing. Caterpillar Inc (up +5.35%), Intel Corp (+4.38%) and Goldman Sachs Group Inc (+2.49%) were among the strongest performers. The broader S&P500 gained +1.86%. Financials (up +2.55), Materials (+2.24%), Energy (+2.22%), Industrials (+2.19%) and Information Technology (+2.19%) all gained over >2% to lead all eleven primary sectors higher. Ford Motor Co jumped +8.38% after the automaker announced it would split its electric vehicle and legacy production businesses into two separate units. Ford plans to breakout financial results for both units, and its Ford+ business, by 2023.The technology-centric Nasdaq rose +1.62%. The small capitalisation Russell 2000 rose +2.51%.

US equity markets retreated as the military conflict in Ukraine showed no signs of abating, with Russia stepping up its bombardment of Ukraine’s biggest cities and traders seeking shelter from risk asset - Dow fell -598-points or -1.76%, paring an earlier -785-point drop. American Express was the worst performing Dow constituent overnight, down -8.47%. Goldman Sachs Group Inc and JPMorgan Chase & Co fell -3.27% and -3.77% respectively. The broader S&P500 -1.55%, with Financials (down -3.71%) leading ten of the eleven primary sectors lower. The latest decline dragged the S&P500 back into official correction territory. Energy (up +1.03%) was the only primary sector to advance, with Chevron Corp up +3.97% and Exxon Mobil Corp +0.96%. Chevron hosted its annual Investor Day overnight and said it will ramp up share buybacks as it expects higher returns across the next four years, as much as doubling its share buyback guidance range each year to US$5B to US$10B, up from a prior range of US$3B to US$5B. The energy major also said that it expected to continue to improve cost efficiency and deliver higher returns The technology-centric Nasdaq lost -1.59%. Apple Inc (down -1.16%) confirmed that it has stopped selling its products through the Apple Store in Russia. All Apple products on the company’s Russian storefront are listed as “unavailable” for purchase or delivery in the country. Apple also said overnight that it has removed Russian state-controlled outlets RT News and Sputnik News from its App Store around the world except for Russia. Nike Inc (down -3.17%) has also stopped selling products in Russia, according to a message posted on the company’s website. The small capitalisation Russell 2000 shed -1.93%.