US equity markets settled modestly higher in light volume trade ahead of the Memorial Day long weekend - Dow inched +11-points or +0.03% higher . The overnight session marked the 125th anniversary of the Dow Jones Industrial Average, which made its debut 26 May, 1896 with just 12 members. The indice’s best year occurred in 1915 when the benchmark rallied +81.7%, while 1931 marked its worst year with a -52.7% loss. The broader S&P500 edged +0.19% higher, with Energy (+0.93%) and Consumer Discretionary (+0.90%) leading eight of the eleven primary sectors higher. Healthcare (down -0.56%) was the worst performing primary sector. Ford Motor Co rallied +8.4% after the vehicle maker said it planned to spend US$30B on vehicle electrification by 2025, up from a previously stated goal of US$22B in electric vehicle spending. Cruise operators continued to trade strongly, with Carnival Corp up +2.76% and Royal Caribbean Cruises Ltd +3.92%. A tiny hedge fund - Engine No. 1 - dealt a major blow to Exxon Mobil Corp overnight, unseating at least two board members as part of a heated Environmental, Social and Corporate Governance (ESG) battle. Eight of Exxon’s nominees were elected to its 12-member board of directors, along with two of Engine No. 1’s nominees, the company said. The counting is not finished, so Engine No. 1 could potentially see three of its four nominees join the Exxon board. The Nasdaq rose +0.59%. Amazon.com Inc (up +0.19%) agreed to acquire privately owned MGM Holdings for ~US$8.45B, confirming months long speculation and marking the latest in a steady stream of consolidation in the movie and television content business. The small capitalisation Russell 2000 jumped +1.97%.