A daily bulletin featuring an overnight sharemarket summary and economic news from across the globe, broadcast in the Morgans studio before the Australian stock market opens each morning.
A fresh jump in Treasury yields weighed on US equity markets albeit the major averages settled off their session lows after CNN and Axios reported, citing White House officials, that President Trump was open to providing sanctions relief to Iran on nuclear matters – Dow fell -347-points or -0.67%. Boeing Co dropped -6.91% after the Federal Aviation Administration said it wouldn't certify the aerospace giant's 737 Max 10 until it assesses a new software glitch. Salesforce Inc (-2.88%), International Business Machines (IBM) Corporation (-2.15%), and Goldman Sachs Group Inc (-2.05%) fell over >2%. Nvidia Corp (up +1.68%) bucked the weaker trend among semiconductor stocks after the company announced plans to buy back an additional US$150B worth of its shares, the biggest-ever company share buyback and bringing the total value of its share repurchasing program to US$235B. Nvidia also unveiled an Open Agent Safety Platform “to strengthen AI security from agent testing to deployment.”The broader S&P500 lost -0.77%, logging its largest daily percentage drop since August settling in negative territory for the month-to-date (down -0.03%). Communication Services (down -1.67%) and Consumer Discretionary (-1.28%) fell over >1.5% to lead eight of the eleven primary sectors lower. Meta Platforms Inc dropped -4.79% after rallying +12.9% last week amid a series of announcements related to its personal AI agent Muse that was launched on 8 September and booking a five-week winning streak. Newmont Corp -4.43%
US equity markets advanced on Friday (25 September) to cap a volatile week of trading – Dow gained +479-points or +0.93%. Microsoft Corporation rallied +3.66% to $516.17 and booked its highest close since November last year after the technology giant unveiled an updated Copilot app with new capabilities, including coding and autonomous-agent tools.
US equity markets were mixed overnight following a muted session as oil prices and bond yields continued to climb. The Dow fell -162 points of -0.31%.Stocks recovered from their session lows following reports that US and Iranian negotiators in New York are exploring a potential agreement to de-escalate tensions in the Middle East. Under the proposed plan, Iran would reopen the Strait of Hormuz in exchange for the US gradually lifting economic sanctions on Tehran. Investors are awaiting news from the meeting between President Trump and Chinese leader Xi Jinping in Washington ahead of a state dinner at which several corporate leaders are expected to attend. Earlier, Treasury Secretary Scott Bessent said that the U.S. and China will extend a tariff truce by two months, until January.
US equity markets declined as crude prices and global bond yields resumed their march higher – Dow fell -352-points or -0.68%. McDonald's Corp dropped -4.81% after announcing plans for its own media network, pricey restaurant upgrades/remodelling and ways to win over GLP-1 users during an investor presentation at its Chicago headquarters. In June, the company unveiled its newest growth strategy, McDonald's > NEXT. However, until last night executives had offered few details about how they would implement the plan and how it may affect its financial results over the coming years. McDonald's aims to win over more diners at a time the company expects inflation and flat traffic to restaurants overall will persist, CEO Chris Kempczinski told CNBC. The four (4) ‘Magnificent Seven' members in the Dow all declined, with Alphabet Inc down -3.8%, Amazon.com Inc -2.24%, Apple Inc -0.8% and NVIDIA Corp -1.47%.
US equity markets closed a volatile week on a muted and mixed note on Friday. Dow slipped 95 points or 0.2%. IBM, Walt Disney, Nike, and Salesforce all falling over 2%. Apple is 0.3% as the technology giants iPhone 18 models and other new products debuted following a launch event last week.
US equity markets declined, with chipmakers under particular pressure after top executives in U.S. artificial intelligence (AI) companies raised safety concerns and called for a slowdown in the development of AI – Dow eased -152-points or -0.29% after declining ~300-points earlier in the session. Caterpillar Inc (down -4.22%) and Goldman Sachs Group Inc (-3.96%) booked the largest percentage declines in the 30-stock index.
US equity markets advanced on Friday (11 September), snapping a four-session losing streak as oil prices snapped an eight-session winning streak and pulled back from five-month highs, while investors digested inflation figures that cemented expectations of an interest rate hike later this week – Dow rebounded +509-points or +0.98%.The broader S&P500 rallied +0.86%, with Communication Services (up +1.35%), Consumer Discretionary (+1.13%), Information Technology (+1.11%) and Industrials (+1.07%) all climbing over >1% to lead nine of the eleven primary sectors higher. Utilities (down -0.34%) and Health Care (-0.14%) were the only sectors to settle in the red. Server makers Dell Technologies Inc (up 11.98%) and Hewlett Packard Enterprise Co (+12.44%) led the S&P 500's gainers on Friday (11 September), as investors were reassured about data-centre spending by Oracle Corp's (down -1.74%) latest earnings report.
US equity and bond markets were CLOSED overnight AEST for the Labor Day holiday.In US corporate earnings, Casey's General Stores Inc releases its fiscal first-quarter result tonight AEST.In US economic data, the National Federation of Independent Business (NFIB) Business Optimism Index for August, Consumer Inflation Expectations for August and Used Car Prices for August are released tonight AEST.European bourses settled narrowly mixed in thin trading, with the pan-European Stoxx 600 index (which includes UK equities) little changed. Energy (up +1.29%) and Technology (+1.10%) rose over >1%, while Health Care (down 0.94%) and Financial Services (-0.91%) fell over >0.9%. Germany's DAX slipped -0.15%. France's CAC added +0.33%.
US equity markets retreated on Friday (4 September) following a stronger-than-expected August jobs report that ignited fresh concerns about interest rate hikes – Dow fell -272-points or 0.51%. Apple Inc (-2.51%) and Microsoft Corp (-2.04%) fell over >2%.
US equity markets rallied as Treasury yields retreated for a second session, with a rally for mega-capitalisation technology names and software stocks helping the S&P500 and Dow Jones Industrial Average book their best one-day gains since 4 August – Dow rallied +624-points or +1.18%. Goldman Sachs Group Inc rose +3.34%, while Microsoft Corp (+2.68%), Salesforce Inc (+2.92%), The Travelers Companies Inc (+2.23%) and Walmart Inc (+2.20%) all gained over >2%.
US equity markets advanced as the rally in Treasury yields paused although crude prices continued to climb – Dow rose +295-points or +0.56%, snapping a three-session losing streak. Nvidia Corp gained +3.21% to be the leading performer in the 30-stock index. Chief Executive Officer (CEO) Jensen Huang addressed a technology event in North Carolina hosted by the US and called on Group of 20 (G20) nations to accelerate their adoption of artificial intelligence as a way to enhance growth, urging the world's largest economies to expand data centres and other infrastructure to support the emerging technology. Chevron Corp added +0.35% after the energy giant and Italy's ENI S.p.A (+0.61%) signed key agreements with Venezuela, committing to large oil project expansions aimed at boosting the OPEC country's production said it was going to expand operations in Venezuela.
US equity markets weaker to open September as fresh gains for oil prices and bond yields stoked inflation concerns and dented investor sentiment – Dow lost -419-points or -0.79% to 52,766.88, its lowest close since 31 July and settling below its 50-day moving average (52,849.85) for the first time since 10 April [From 10 April, the Dow rallied 20.3% to its 5 August record close of 54,349.12]. Caterpillar Inc (down -2.3%), The Home Depot (-2.46%) and Sherwin-Williams Co (-2.62%) all declining over >2%. Members of the so-called ‘Magnificent Seven' cohort of mega-capitalisation technology stocks also struggled for a second session running, with Amazon.com Inc (-1.87%), Alphabet Inc (-1.28%) and Nvidia Corp (-1.51%) all down over >1%. However, Apple Inc rallied +2.61% as John Ternus took the helm as Chief Executive Officer (CEO) following the 15-year tenure of now-retired Tim Cook.
Technology stocks powered the latest gains on US equity markets, with Nvidia Corp's second quarter result – Dow added +106-points or +0.20% although just six (6) of the index's 30 components advanced. Nvidia Corp +8.74% after the chip giant released its second quarter result after the close of the previous session with robust forecasts that illustrated the relentless demand for artificial intelligence (AI) computing, even as it warned that shortages of memory components could curb the pace of the industry's growth. Salesforce Inc soared +22.58% after the client relationship management software provider reported a strong fiscal second quarter result and better-than-expected guidance after the close of the previous session. International Business Machines (IBM) Corporation +3.88% and Microsoft Corp +1.75% . McDoalnd's Corp, Merck and Disney fell over >2%.The broader S&P500 rose +0.72% Information Technology (up +3.40%) was the only primary sector to advance overnight. Consumer Staples (down -1.50%), Health Care (-1.10%) and Consumer Discretionary (-1.02%) all fell over >1%. Moderna Inc -4.60% after unveiling a US$2B convertible bonds sale
US equity markets advanced as bond yields and oil prices retreated, with technology stocks trading strongly ahead of Nvidia Corp's second quarter result after the closing bell of tonight's AEST – Dow added +160-points or +0.30%. Merck & Co Inc (up +3.84%) was the leading performer in the 30-stock index. Goldman Sachs Group Inc (+2.18%) and NVIDIA Corp (+2.19%) rose over >2%, with the latter snapping a seven session losing streak – its longest such streak since the seven-day stretch that ended 6 September, 2022.
US equity markets declined as Treasury yields continued their march higher despite the Treasury Department's extraordinary debt buyback operation. Dow fell -703 points or -1.32%.The broader S&P500 fell -66 points of -0.87%.Consumer Staples and Healthcare were the weakest, down -1.93% and 1.89% to lead nine of the eleven primary sectors lower. Energy and Real Estate were the only positive sectors, up 0.38% and 0.15% respectively.
US equity markets weaker for a third straight session, with the S&P 500 and Nasdaq booking their largest daily percentage declines since 29 July as fading hopes for a US-Iran peace deal continued to pushed oil prices higher, while investors also continued to eye bond yields that are at multi-year peaks – Dow eased -116-points or 0.22%. Caterpillar Inc (down -4.63%) was the worst performer in the 30-stock index. The broader S&P500 fell -0.69% to 7,691.76. The S&P 500 has retreated ~1.37% since logging a record closing high of 7,798.99 last Thursday (12 August). Information Technology fell -1.93% to lead seven of the eleven primary sectors lower, with memory stocks under particular pressure. Sandisk Corp (down -9.01%) and Seagate Technology Holdings Plc (-9.13%) fell over >9%. Energy (up +1.79% to a record closing high of 972.35) and Health Care (+1.59%) rose over >1.5%.
US equity markets booked modest declines amid growing doubts that the U.S. and Iran will come to a lasting resolution to the conflict in the near term and as investors eyed key economic data releases later in the week – Dow slipped -61-points or -0.11%. Nvidia Corp fell -2.86% to be the worst performer in the 30 stock index. A person familiar with the matter told Reuters that a group of financial firms, including Apollo Global and Blackstone is working with Nvidia to put together a US$500B funding package for AI infrastructure development. Chevron Corp rallied +4.48% s oil prices jumped.
US Equity markets rallied on Friday to cap a strong week as weaker than expected jobs data tempered expectations of rate hikes. Dow up 152 points or 0.3 of a percent. Salesforce up 3.2% while Honeywell Technologies and Nvidia both climbed 2.3%. Broader S&P 500 with a 0.6 of a percent gain
All three major US equity indices retreated overnight, with the Dow Jones snapping a five-session winning streak, as investors paused to consolidate gains following a strong rally that had propelled markets to fresh record highs. Dow fell 464.02-points or -0.85%. The Walt Disney Company (+2.87%), Microsoft Corporation (+2.54%) and Chevron Corp (+1.51%) were among the leading performers in the 30-stock index. Boeing Co (-3.33%), Salesforce Inc (-3.22%), Honeywell Technologies Inc (-2.97%) and Goldman Sachs Group Inc (-2.62%) all fell over >2.5%.
US equity markets rallied strongly, lifting both the Dow and S&P 500 to record closing highs – Dow climbed +907-points or +1.71% to a fresh record closing high of 26,584.99, with Cisco Systems Inc (+5.08%) and International Business Machines (IBM) Corp (+3.91%) among the leading performers in the 30-stock index.
US equity markets opened August with strong gains as signs of de-escalating tensions in the Middle East dragged crude prices sharply lower ahead of another busy week on the corporate earnings calendar – Dow rallied +693-points or +1.32% to a fresh record closing high of 53,178.41. Boeing Co jumped +8.03% after the aerospace and defence company cleared an important regulatory hurdle, with the Federal Aviation Administration clearing for commercial service the smallest of the 737 Max planes, the 737 Max 7. The news bodes well for the eventual certification of Boeing's 737 Max 10, with that aircraft completing final tests last month. ‘Magnificent Seven' mega capitalisation technology stocks continued to trade strongly, with Microsoft Corp climbing +4.93% to book its best three-day performance in 26 years (+23.46%) and turn positive for the calendar year-to-date (+0.83%) following the company's second quarter result after the closing bell last Wednesday (29 August). Amazon.com Inc rose +4.58% to a fresh record closing high of US$284.02, with the company's market capitalisation climbing above >US$3 trillion for the first time.
US equity markets rebounded strongly from a sharp sell-off a day earlier following the Federal Reserve's latest monetary policy meeting, with a broader pivot back to risk – Dow +614-points or +1.19% a day after booking worst one-day decline since April 2025. Microsoft Corp soared +15.51% to book its biggest daily percentage gain in 18-years, adding +US$450B to its market capitalisation after management of the ‘Magnificent Seven' mega-capitalisation technology stock forecast an acceleration in cloud growth for the current quarter after close of the previous session. Goldman Sachs Group Inc rallied +4.5%, while Boeing Co (+3.22%) and Caterpillar Inc (+3.38%) rose over >3%. However, Salesforce Inc -4.07%, snapping a four-session losing streak amid a broader sell-off for software stocks following a recent resurgence.The broader S&P500 +1.66%, with Information Technology (up +5.24%) leading six of the eleven primary sectors higher. Communication Services (down -2.52%) and Consumer Staples (-2.24%) fell over >2%.
US equity markets mixed to open the busiest week of the second quarter corporate earnings season (with 177 S&P 500 companies slated to report, including nine Dow components), with oil prices dropping sharply following reports of a ceasefire between the US and Iran while semiconductor stocks remained under pressure – Dow rose +263-points or +0.51%. Salesforce Inc (up 6.07%) was the leading performer in the 30-stock index. Apple Inc – which releases its second quarter result on Thursday night AEST (30 July) - rose +1.17% to a record closing high of US$336.91 and touched a record intra-day high (US$339.57), usurping NVIDIA Corp (down -4.99%) as the largest company by market capitalisation. Apple last held the top spot at the close on 2 May, 2025. NVIDIA fell following a WSJ report that it is in talks with OpenAI to guarantee US$250B in financing for a massive Ohio data centre project, raising concerns in some quarters around circular funding.Reuters reported that Iran would pause military attacks if the U.S. continued its own pause, albeit Tehran denied the reports. Separately, The Wall Street Journal (WSJ) over the weekend reported that President Trump called off an escalation of the conflict. Meanwhile, President Trump told reporters while aboard Air Force One that Washington was having "good talks" with Iran and there was a chance of a peace deal, but warned U.S. strikes would resume if the negotiations failed to deliver.
US equity markets fell sharply as oil prices continued to soar and mega cap technology names sold off amid concerns around the level of AI spending. Dow down 507 points or almost 1%. Google parent Alphabet down 6.9% after posting its second quarter result after the close of the previous session and reporting negative cash flow of 5.9 billion.
US equity markets rallied, snapping a three-session losing streak as semiconductor stocks rebounded strongly and as strong earnings releases also shifted some investor focus away from the ongoing hostilities in the Middle East that continued to drive oil prices higher – Dow gained +385-points or +0.74%. UnitedHealth Group Inc (+3.51%), Caterpillar Inc (+2.97%) and Goldman Sachs Group Inc (+2.89%) all traded particularly strongly. Boeing Co (down -2.23%) and Salesforce Inc (-2.15%) fell over >2%.Canadian Prime Minister Mark Carney said he and President Trump agreed to accelerate trade talks ahead of a potential US move to impose 50% tariffs on a range of Canadian goods next month. Mr Carney's comments came after the Trump administration said after the close of the previous session that it would slap 50% tariffs on some goods imported from Canada, in an effort to end what it sees as discriminatory trade practices by Ottawa against the U.S. automobile, dairy and alcohol industries
US equity markets weaker with fresh falls for chip makers overshadowing generally upbeat economic data, down 106 points or 0.2%. Alphabet, Caterpillar and Goldman Sachs all dropping over 4%. On the upside, Nike rallied 4.2%, while Amgen, IBN, McDonald's, Merck & Co, and Salesforce all rallied over 3%.
US equity markets firmer as investors digested another round of second quarter corporate earnings releases and weaker-than-expected wholesale inflation figures – Dow added +150-points or +0.29%, with the four (4) members of the ‘Magnificent Seven' cohort of mega-capitalisation stocks that sit in the 30-stock index – Apple Inc (up +4.01%), Amazon.com Inc (+3.02%), Microsoft Corp (+2.78%) and Nvidia Corp (+0.33%) – all advancing. Cisco Systems Inc (down -4.54%) was the worst performing Dow component overnight.The broader S&P500 rose +0.38%, with Communication Services rallying +2.78% to lead five of the eleven primary sectors higher. Google parent Alphabet Inc gained +3.17%. Utilities (down -0.98%) and Energy (-0.77%) sat at the foot of the primary sector leaderboard. PayPal Inc soared +17.20% to US$55.52 and paced gains in the S&P500 after Reuters reported that payments firm Stripe and private equity company Advent offered to buy the digital payments giant for US$53B or US$60.50 per share earlier this month.
US equity markets logged modest gains as investors balanced rising US Iran tensions against cooler than expected June inflation data and a wave of major bank earnings. Dow edged 10 points higher as investors digested second quarter results from a number of components. Broader S&P 500 adding 0.4 of a percent.
US equity markets retreated and oil prices and bond yields jumped after President Trump said the U.S. was reinstating a blockade of Iranian ships in the Strait of Hormuz, reigniting inflation fears and dampening risk appetite – Dow lost -138-points or -0.26%, with Nvidia Corp (down -3.52%) and Boeing Co (-3.05%) falling over >3%.
US equity markets advanced on Friday (10 July), with the S&P 500 closing in on fresh record highs ahead of the second quarter earnings season kicking into gear this week – Dow climbed +150-points or +0.29%. Nike Inc rallied +3.72%, while International Business Machines (IBM) Corp fell -2.62%The broader S&P500 rose +0.42% to 7,575.39, settling 0.42% below its 2 June record closing high (7,609.78). Materials (up +1.12%) and Communication Services (+0.92%) led ten of the eleven primary sectors higher. Meta Platforms Inc (up +5.97%) the leading performer in the S&P 500 on Friday (10 July) and climbing to its highest level since April. Health Care fell -0.81%, with Moderna Inc slumping -10.83% to US$68.27and booking its worst week since August 2025 (down -14.41%) after a strong rally earlier in the month that lifted the vaccine manufacturer above >US$85 per share.
US equity markets weaker after President Trump said the ceasefire with Iran was over, sending oil prices soaring to three-week highs. Dow down 577 points, or 1.1%. American Express and sherwin-williams Co. falling over 3%.On the upside, Nvidia Corp up 3.7%, leading performer in the 30 stock index after the Information reported that China will allow top AI companies including Alibaba, ByteDance and DeepSeq to buy a limited amount of Nvidia's H200 chips.
US equity markets advanced after resuming trading following the Independence Day long weekend, led by a fresh rally for artificial intelligence (AI)-related stocks – Dow added +156-points or +0.29% to 53,055.91, booking its first close above >53,000 and 21st record closing high of 2026. It has been just four trading days since the index first closed above 52,000, marking the fastest 1,000 point milestone on record. Boeing Co (up +3.55%), International Business Machines (IBM) Corp (+3.45%) and Goldman Sachs Group Inc (+3.36%) all rallied over >3%. Amgen Inc (down -2.06%), Home Depot Inc (-2.03%) and Merck & Co Inc (-2.15%) declined over >2%. Microsoft Corp announcing it would cut ~4,800 jobs or ~2.1% of its global workforce.
US equity and bond markets were CLOSED on Friday (3 July) for Independence DayU.S. stocks have delivered an 8.7% annualized return over the past 250 years, with gross domestic product (GDP) averaging 6% and annual inflation at 2.5%, according to analysis by Bank of America to mark the 250th anniversary of the adoption of the Declaration of Independence. US 10-year Treasury bonds have delivered a 5.1% average annualised return over the same timeframe.
US equity markets weaker to open the new second half of the calendar year.Dow dipped -14-points or 0.03% after booking back-to-back record closing highs and just failing to secure its 20th record closing high of the year.
US equity markets weaker on Friday (26 June) amid steep declines among artificial intelligence (AI)-related semiconductor stocks – Dow slipped -44-points or 0.09%. Caterpillar Inc fell -5.63%, while Cisco Systems Inc (-4.37%) and Goldman Sachs Group Inc (-4.27%) fell over >4%.
US equity markets weaker as technology stocks came under fresh pressure and as investors eyed key inflation figures tonight AEST – Dow rose +182-points or +0.35%, with Home Depot Inc (up 5.67%) the leading performer in the 30-stock index. Chevron Corp shed -2.57% as crude prices tumbled. The broader S&P500 slipped -0.10%, with Energy (down -1.73%) leading five of the eleven primary sectors lower. Information Technology (-0.64%%) and Communication Services (-0.61%) both fell ~0.60%. Industrials (up +1.18%) and Utilities (+1.05%) sat atop the primary sector leaderboard.
US equity markets declined amid a deepening sell-off in technology stocks that spilled over into memory and chip stocks– Dow dipped -46-points or -0.09%. Nvidia Corp (down -4.13%) was the worst performer in the 30-stock index. Caterpillar Inc fell -3.72%, unwinding the stock's +3.72% in the previous session.
US equity markets rallied sharply ahead of the holiday long weekend, underpinned by fresh gains for semiconductor stocks and as investors shrugged off concerns around rising interest rates following the Federal Reserve's latest monetary policy meeting – Dow added +72-points or +0.14%, with Caterpillar Inc (up +3.13%) the leading performer in the 30-stock index. International Business Machines (IBM) Corp lost -5.05%. Salesforce Inc fell -2.09% to extend the client relationship management software company's losing streak into a 13th consecutive session.
US equity markets fell sharply as investors digested the latest monetary policy pronouncements from the Federal Reserve – Dow lost -507-points or -0.98% to 51,492.55 after logging two consecutive record closing highs. The 30-stock index did hit a fresh record intra-day high (52,281.19) for a third day running earlier in the session after rising ~0.5% in early trading. Salesforce Inc fell -4.14% to be the worst performer in the Dow overnight and recording its 12th straight session decline to extend its longest losing streak on record. Amazon.com Inc (-3.46%), International Business Machines Corp (down -3.12%) and Microsoft Corp (-3.79%) all fell over >3%.
US equity markets closed mixed overnight– Dow rallied +329-points or +0.64% to a fresh record closing high of 51,999.67 after scaling a record intra-day peak of 52,190.29.
US equity markets steadied following a sharp sell-off last Friday ( 5 June) as Middle East headlines remained in focus and chip stocks rebounded from steep declines in the previous session - Dow slipped -81-points or -0.16%. Travelers Companies Inc (down -2.15%) was the worst performer in the 30-stock index, while Cisco Systems Inc (+2.06%) was the leading Dow component overnight. Apple Inc's (down -1.89%) Worldwide Developers Conference (WWDC) kicked off overnight, with investors offering a tepid reception to the new Apple Intelligence system. Apple said that its new AI features won't be available in China while the company “works through regulatory requirements”. It marks Tim Cook's last WWDC as chief executive officer (CEO) as he prepares to hand over the reins to hardware chief John Ternus in September.
US equity markets firmer amid yet another bout of optimism around a resolution to the US-Iran conflict, while there was also a pivot from certain technology stocks into more defensive sectors – Dow rallied +875-points or +1.73% to a record closing high of 51,561.93. UnitedHealth Group Inc rose +5.16% to be the leading Dow component, with analysts at Bank of America upgrading their recommendation in the health insurer to ‘Buy' and lifting their price target to US$450 (from US$420 previously), citing expectations of improving margins as a result of more favourable medical cost trends. Goldman Sachs Group Inc (+4.96%) and Merck & Co Inc (+4.85%) also gained ~5%.
US equity markets retreated, breaking a five session stretch of record closing highs for the three benchmark indices as oil prices and bond yields climbed. Dow was down 621 points or 1.2%. IBM down 7.2% to be the worst performer in the 30 stock index. Honeywell and Salesforce both fell 5.1%, while all of American Express, Boeing, Microsoft, and Nvidia fell over 3%. On the upside, Amgen and Walmart both gained over 3%. US Central Command, or CENTCOM, said that Iranian drones unsuccessfully attempted to attack American forces in Kuwait.
The three (3) main US equity benchmarks opened the new week and month with fresh record closing highs despite a fresh jump in oil prices, with technology stocks (particularly software names) continuing to drive the gains – Dow inched +46-points or +0.09% higher to 51,078.88. Salesforce Inc (up +9.68%) and International Business Machines (IBM) Corp (+7.60%) were the leading performer in the 30-stock index for a second session running.
Benchmark US equity indices climbed and booked record highs after the U.S. and Iran agreed to extend their ceasefire, while investors also digested the latest U.S. inflation and revised economic growth figures – Dow added +25-points or +0.05% to a record closing peak of 50,668.97. Microsoft Corp +3.47% after news website The Information reported that the company would release a new coding model next week. International Business Machines (IBM) Corp (+3.53%) and Nike Inc +3.02% also gained over >3%. Caterpillar Inc (down -2.45%) was the worst performer in the 30-stock index.
The S&P500 and Nasdaq booked fresh record closing highs as equity and bond markets resumed trading following the Memorial Day long weekend, with a rally in memory-chip companies overshadowing fresh uncertainty around the Middle East peace negotiations – Dow eased -118-points or -0.23%. Chevron Corp (down -3.51%) and UnitedHealth Group Inc (-2.99%) were the worst performers in the 30-stock index. Caterpillar Inc rallied +3.26%.
US equity markets rallied on Friday (22 May) ahead of the holiday long weekend albeit finished off their best levels of the session – Dow rose +294-points or +0.58% to log a fresh record closing high of 50,579.70 for a second consecutive session after scaling a record intra-day peak (50,830.24). Merck & Co rallied +5.64% to be the leading performer in the 30-stock index following a report by STAT News that its lung cancer treatment being developed with China-based Kelun-Biotech, sacituzumab tirumotecan, cut tumour progression risk by 65% and also yielded a survival benefit in a Phase 3 study conducted in China. The drug was used on patients in combination with Merck's Keytruda, the company's immunotherapy used to treat a wide variety of cancers. However, Nvidia Corp (down -1.9%) declined for a second session running following the release of its first quarter result after the close last Wednesday (20 May).
US equity markets advanced and shaped to cap another strong week ahead of the holiday long weekend despite heightened volatility – Dow gained +276-points or +0.55% to a record closing high of 50,285.66. International Business Machines (IBM) Corp soared +12.43% after the company said it would receive a US$1B CHIPS and Science Act award from the Commerce Department to build a quantum chip foundry. The Wall Street Journal reported that the U.S. government will award US$2B in grants to nine firms operating in the quantum computing space, lifting a host of companies in the wider sector. Nvidia Corp fell -1.77% despite the world's largest market capitalisation reporting better-than-expected headline numbers for the first quarter after the close of the previous session. Part of the drag on Nvidia's shares was attributed to investors seeking to build cash reserves ahead of pending initial public offerings (IPO) by SpaceX, OpenAI and Anthropic
US equity markets rallied as oil prices and Treasury yields fell sharply amid fresh optimism that the conflict in the Middle East could soon be resolved – Dow gained +645-points or +1.31%. Goldman Sachs Group Inc +5.75% was the leading performer in the 30-stock index, while Boeing Co (+3.34%) and Nike Inc (+4.17%) were among the leading components.
A fresh jump in bond yields weighed on US equity markets, with the S&P500 and Nasdaq booking a third straight session of declines – Dow lost -322-points or -0.65%. Cisco Systems Inc (down -2.94%) and Boeing Co (-2.54%) fell over >2.5%, while Amazon.com Inc (-2.08%) and 3M Co (-2.08%) fell over >2%. Walmart Inc (up +0.64% to US$134.20) set record intra-day (US$135.155) and closing highs, with the world's largest retailer skated to post its first quarter result on Thursday night AEST (21 May).
US equity markets weaker but pared earlier, steeper losses after President Trump said he wanted to give “serious negotiations” a chance, hours after threatening to resume bombing and hours after both the US and Iran dismissed each other's latest peace proposals – Dow added +160-points or +0.32%, with 3M Co (up +4.32%) the leading performer in the 30-stock index. Salesforce Inc (up +3.44) rallied over >3% for a second consecutive session. On the downside, Caterpillar Inc fell -2.74%. Nvidia Corp (down -1.33%), with Chief Executive Officer (CEO) Jensen Huang conducting an interview with Bloomberg Television days after he joined President Trump's for a two-day summit in Beijing. Mr Huang said that his sense is that “over time the [China] market will open,” and noting that he didn't discuss directly with Chinese officials the company's effort to sell its H200 AI chips to customers in China. Nvidia is slated to post its first quarter result after the close of trading on Wednesday (20 May).
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