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US equity markets weaker after a choppy session, with stocks whipsawing on various news reports related to Ukraine - Dow fell -172-points or -0.49%, with pharmacy group Walgreens Boots Alliance Inc (down -2.75%), International Business Machines (IBM) Corp -1.91% and energy major Chevron Corp (-1.54%) among the notable drags on the index. The broader S&P500 lost -0.38%, with Energy (down -2.24%) leading nine of the eleven primary sectors lower after topping the primary sector leaderboard last Friday (11 February). Financials (down -1.11%), Health Care (-1.09%) and Real Estate (-1.02%) all fell over >1%. Consumer Discretionary (up +0.58%) and Communication Services (+0.32%) were the only primary sectors to advance. The S&P500 logged its third straight session decline and racked up its biggest three-day drop (-4.09%) since 28 October 2020. The technology-centric Nasdaq was flat, unwinding an earlier ~1% rally and extending its decline over the past three days to -4.8%. The small capitalisation Russell 2000 lost -0.41%. In merger and acquisition (M&A) news, Splunk Inc rose +9.13% after The Wall Street Journal (WSJ) reported that Cisco Systems (down -1.34%) made a takeover offer worth more than >US$20B for the software maker. The offer was made recently and the companies aren’t currently in active talks, the WSJ reported, citing people familiar with the matter. Separately, Lockheed Martin Corp fell -2.33% as it ended its bid to buy Aerojet Rocketdyne Holdings Inc (-5.60%) after the Federal Trade Commission last month sued to block the proposed US$4.4B deal.

US equity markets retreated sharply in Friday’s (11 February) afternoon session (and crude prices jumped), with U.S. National Security Advisor Jake Sullivan advising at a White House briefing that took place ~2-hours before the close of trading that there were signs of Russian escalation at the Ukraine border - Dow down -504-points or -1.43% . The broader S&P500 shed -1.90%, with Information Technology (down -3.01%), Consumer Discretionary (-2.82%) and Communication Services (-2.54%) all falling over >2.5% and leading nine of the eleven primary sectors lower. Energy (up +2.79%) and Utilities (+0.01%) were the only sectors to advance. Exxon Mobil Corp and ConocoPhillips gained +2.5% and +2.3%, respectively. However, American Airlines Group Inc fell -5.88% and Delta Air Lines Inc -3.58%. The Nasdaq dropped -2.78%. Semiconductor stocks, which have been volatile in part due to supply chain issues caused by COVID, were notable underperformers on Friday (11 February), with Advanced Micro Devices (down -10.01%), Nvidia Corp -7.3% and Xilinx Inc (-9.99%) both falling ~10%. The small capitalisation Russell 2000 lost -1.02%. “Buy now, pay later” provider Affirm Holdings Inc plunged -20.67% after the group posted a wider-than-expected fiscal second quarter loss and disappointing third quarter revenue guidance.

US equity markets retreated, with technology stocks under renewed pressure as investors assessed another hot inflation report - Dow down -527-points or -1.47%. However, Walt Disney Co gained +3.35% after recording record first quarter revenue and better-than-expected adjusted earnings per share (EPS) after the close of the previous session. The broader S&P500 lost -1.81%, with Real Estate (down -2.86%), Information Technology (-2.75%) and Utilities (-2.61%) all falling over >2.5% to lead all eleven primary sectors lower. The technology-centric Nasdaq dropped -2.10%. The small capitalisation Russell 2000 fell -1.55%.

US equity markets advanced, underpinned by a further rebound for the technology sector - Dow up +305-points or +0.86% . The broader S&P500 +1.45%, with Communication Services (up +2.45%), Real Estate (+2.38%), Information Technology (2.31%) and Materials (+2.13%) all climbing over >2% to lead all eleven primary sectors higher. The technology-centric Nasdaq +2.08%, settling over >8% above its 27 January closing low Facebook parent Meta Platforms Inc rebounded +5.37% a day after the company’s market capitalisation fell below

US equity markets rallied, shrugging off the latest climb in Treasury yields - Dow up +372-points or +1.06%, with American Express (up +3.3%) and JPMorgan Chase & Co (+%) notable index performers. The broader S&P500 +0.84%, reversing earlier losses as investors rotated into materials, technology, and financial stocks. It was a broad rally, with gainers in the S&P 500 outnumbering decliners by more than 2 to 1. The Nasdaq +1.28%. Nvidia Corp rose +1.54% after the chipmaker announced that its planned acquisition of chip designer Arm from SoftBank (down -0.9%) had been terminated. However, Facebook parent Meta Platforms Inc fell -2.10%, sending its market capitalisation below

A weaker start to the new trading week for US equity markets - Dow unchanged . The broader S&P500 eased -0.37% despite another strong session for the Energy sector (up +1.31%). Communication Services (down -2.24%) was the worst performing primary sector overnight along with Information Technology (-0.66%). The Nasdaq down -0.58%. Facebook-parent Meta Platforms Inc fell -5.14% and has dropped ~30% since the company’s fourth quarter result last Wednesday (2 February). Google parent Alphabet Inc (down -2.85%) disclosed that Larry Page, co-founder and current board member, has sold more than $80M worth of shares, a couple of days after the stock surged on the back of a blowout earnings report and stock-split announcement. In filings with the Securities and Exchange Commission after Friday’s (4 January) closing bell, the internet search giant said Mr Page sold 13,889 on 3 February in the open market. The small capitalisation Russell 2000 +0.51%.

US equity markets mostly firmer on Friday (4 January) - Dow slipped -21-points or -0.06%, with declines in UnitedHealth Group Inc (down -1.15%), Home Depot Inc (-1.41%) and 3M Co (-2.23%) overshadowing solid gains for Goldman Sachs Group Inc (up +2.43%) and Salesforce.com Inc (+3.04%). The broader S&P500 added +0.52%, with the Consumer Discretionary sector (up +3.74%) leading five of the eleven primary sectors higher, underpinned by Amazon.com Inc’s +13.54% jump following the company’s strong fourth quarter result after the closing bell last Thursday (3 February). Some US$11.8B of the US$14.3B fourth-quarter profit it reported was from an investment in Rivian Automotive, which went public in the quarter. Financials (up +1.66%) and Energy (+1.58%) also performed strongly. Materials (down -1.72%) and Real Estate (-1.26%) brought up the rear on Friday (4 February). Ford Motor Co dropped -9.07% after the automaker posted weaker-than-expected fourth quarter earnings after the close of the previous session. The company also confirmed over the weekend earlier reports that it would be rolling back production at some of its plants beginning this week. Chief Executive Jim Farley acknowledged supply-chain problems - such as a shortage of semiconductors - at the auto maker in an interview with Barron’s on Friday (4 January), and said the shortages were adding to rising costs and constraining production. The Nasdaq rallied +1.58% after dipping into the red shortly after the opening bell. Amazon.com Inc broke the record Friday (4 February) for the largest-ever one-day gain in market value (US$191.3B) for a U.S. company - just a day after Facebook parent Meta Platforms Inc (down -0.28%) suffered the largest-ever daily loss in market capitalisation (US$232B). The small capitalisation Russell 2000 rose +0.57%. Snap Inc soared +58.82% after the social media group reported better-than-expected fourth quarter user growth and an upbeat outlook after the close of the previous session.

US equity markets declined as some major technology earnings continued to rattle investor sentiment - Dow dropped -518-points or -1.45% . The broader S&P500 shed -2.44%, snapping a four session rally and recording its biggest daily drop since February 2021. Communication Services tumbled -6.83% to lead ten of the eleven primary sectors lower, while Consumer Discretionary (down -3.57%) and Information Technology (-3.07%) both fell over >3%. Consumer Staples was the only primary sector to advance, eking out a +0.01% gain. PayPal Holdings Inc fell -6.24%, bringing their total decline to just under 30% since the closing bell on Tuesday (1 February) when the payments company warned that a weakening ecommerce environment would slow its growth rate. The technology-centric Nasdaq slumped -3.74%, logging its worst single session decline since September 2020. Meta Platforms Inc (formerly Facebook) tumbled -26.39%, wiping more than >US$230B off its market capitalisation after posting disappointing fourth quarter earnings per share and weaker-than-expected guidance after the closing bell of the previous session. The small capitalisation Russell 2000 fell -1.90%.

US equity markets advanced however there were some steep earnings release-related declines after the closing bell - Dow up +224-points or +0.63% . The broader S&P500 gained +0.94% with Communication Services (up +3.09%) leading ten of the eleven primary sectors higher. Consumer Discretionary (down -0.53%) was the only primary sector to close in the red. PayPal Inc slumped -24.6% after the payments company reported EPS (US$1.11 versus consensus US$1.12) and guidance (expects to earn between US$4.60 and US$4.75 in fiscal 2022, below current forecasts for US$5.25) that fell short of Wall Street estimates. The Nasdaq added +0.50%, with Google parent Alphabet Inc jumping +7.3% following its strong fourth quarter result after the closing bell of the previous session that also saw the company announce a 20-for-1 stock split. Advanced Micro Devices Inc rose +5.1% after the chipmaker also posted a strong fourth quarter result after the close of Tuesday’s (1 February). However, the small capitalisation Russell 2000 fell -1.03%.

US equity markets built on a two-day rally after a volatile January, opening February on a positive note - Dow up +273-points or +0.78% . Goldman Sachs Group Inc and JPMorgan Chase & Co gained +2.64% and +1.72% respectively. The broader S&P500 +0.69%, with Energy returning to the top of the primary sector leaderboard overnight with a +3.54% gain and leading eight of the eleven primary sector lower. More defensive sectors underperformed, with Utilities down -1.28%. The technology-centric Nasdaq rose +0.75%. The small capitalisation Russell 2000 +1.10%.