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US equity markets rebounded amid reports that Iran is willing to negotiate over its nuclear program in an effort to contain the conflict with Israel - Dow rose +317-points or +0.75%, with American Express Co (+2.23%), Cisco Systems Inc (+2.22%), investment banks Goldman Sachs Group Inc (+2.33%) and JPMorgan Chase & Co (+2.04%), Nike Inc (+2.26%), and Salesforce Inc (+2.12%) Microsoft Corp +0.88% touched a record all-time intra-day high of US$480.69

US equity markets retreated on Friday (13 June) after Israel launched a wave of airstrikes on Iran and its nuclear facilities, pushing oil prices sharply higher - Dow dropped -770-points or -1.79% Sherwin-Williams Co -5.7% was the worst performer in the 30-stock index, with analysts at Citigroup cutting their recommendation on the stock to "neutral" from "buy," indicating that the persistence of high mortgage rates and softness in the housing market could weigh on the paint distributor's performance in the near term. Visa Inc fell -4.99% and American Express Co -3.42% after a report in The Wall Street Journal indicated that Walmart Inc (-0.41) and Amazon.com Inc (-0.53%) are considering issuing their own stablecoins, a move that could help the retail giants sidestep the interchange fees charged by credit-card providers. Nike Inc (-3.61%) and Salesforce Inc (-3.19%) also fell over >3%.

US equity markets advanced and remained on track to book a third straight weekly gain as investors awaited more signs of progress on trade negotiations and responded to fresh economic data - Dow added +102-points or +0.24% Boeing Co -4.79% after an Air India 787-8 Dreamliner jet crashed minutes after taking off in India's western city of Ahmedabad, killing more than 200 people.

US equity markets retreated, with the S&P 500 and Nasdaq handing back earlier gains and snapping a three-session winning streak as investors digested a tame inflation report and fresh Middle East tensions while awaiting further details on China-U.S. trade talks - Dow flat Goldman Sachs Group Inc (up +1.51%), International Business Machines (IBM) Corp (+1.91%) and UnitedHeath Group Inc (+2.23%) all gained over >1.5%, while Amazon.com Inc (down -2.03%), Apple Inc (-1.92%) and Home Depot Inc (-2.02%) declined ~2%.

US equity markets advanced for s third session as US officials signalled progress on US-China trade talks - Dow rose +105-points or +0.25% Nike Inc +3.17% was the leading performer in the 30-stock index, while Merck & Co Inc (+2.55%) and Walt Disney Co (+2.65%) gained over >2.5%. International Business Machines (IBM) Corp climbed +1.53% to a fresh record closing high of US$276.24 after the company outlined what is called a “viable path” to building the world's first "fault-tolerant" quantum computer by the end of the decade named IBM Quantum Starling. IBM also booked its longest winning streak since December 2023, recording its eighth consecutive session advance after announcing plans to build what it calls “the world's first large-scale, fault-tolerant quantum computer” by 2029, saying it will make way for practical and scalable quantum computing. McDonald's Corp fell -1.43% after the fast food giant received its third broker downgrade in three-days.

US equity markets settled with modest gains, building on last week's advance that saw the benchmark indices log weekly gains of over >1% as investors awaited news from trade talks taking place between the U.S. and China - Dow flat at 42,761.76. Apple Inc -1.21% as its annual Worldwide Developers Conference kicked off overnight, with the company announcing its first new iPhone operating system redesign since 2013. However, there were no highly anticipated updates around artificial intelligence (AI)-enhanced Siri features, with Senior Vice President of Software Engineering Craig Federighi saying that the Siri features “need more time to reach our high quality bar” and that more information will be released “in the coming year.” Boeing Co (up +3.18%) aircraft manufacturer landed its first plane in China after the easing of trade tensions with the U.S. led Beijing to allow deliveries of its jets again. Nvidia Corp +0.64% Chief Executive Officer (CEO) Jensen Huang pledging to boost investment in the UK's AI sector at London Tech Week, describing a “Goldilocks” opportunity. Meanwhile, the NVIDIA GTC 2025 - AI Conference for Developers kicks off in Paris tonight AEST.

• US equity markets retreated following g a choppy session that saw the S&P 500 and Nasdaq snap three-session winning streaks as investors digested the latest developments on the trade front and an escalating spat between Elon Musk and President Trump, while eyeing key jobs data tonight AEST - Dow fell -108-points or -0.25%, with Apple Inc (down -1.05), Nvidia Corp (-1.36%), Procter & Gamble Co (-1.9%), UnitedHealth Group Inc (-1.51%) and Walmart Inc (-1.4%) all down over >1%. Consumer products giant Procter & Gamble outlined plans to trim ~15% of its non-manufacturing workforce (or ~7K jobs) at a n industry conference in Paris. Microsoft Corp rose +0.82% to a record closing high of US$467.68, becoming the first among its peers to reclaim its highs since the selloff among large capitalisation technology peers earlier this year. The gin also saw Microsoft become the largest US company by market capitalisation, usurping Nvidia just two-days after the chipmaker had

US equity markets mixed as investors awaited concrete developments on the trade front and digested softer-than-expected employment data - Dow eased -92-points or -0.22%, snapping a four-session streak. Chevron Corp (down -1.56%) and Verizon Communications Inc (-1.35%) dropped over >1%.

Chip stocks traded strongly for a third consecutive session to underpin fresh gains on US equity markets - Dow rose +214-points or +0.51%. Nvidia Corp rose +2.8% to US$141.22 to be the leading performer in the 30-stock index, reclaiming the title from Microsoft Corp (+0.22%) as the most valuable US company by market capitalisation (at US$3.45 trillion).

US equity markets opened the new month with modest gains, settling near their session highs as Wall Street shook off increasing trade tensions between the US and China - Dow inched +35-points or +0.08% higher Boeing Co +2.00% to US$211.47, buoyed by an upgrade to ‘Buy' (and upgraded target price of US$260) from ‘Hold' by analysts at Bank of America Securities, who observed that the company's “aircraft have emerged as a favoured trade mechanism in recent U.S. trade negotiations, which we suspect will continue.” The analysts report also noted that “Given the progress made under [Chief Executive Officer] Kelly Ortberg's leadership, we are more confident in the company's turnaround.”

US equity markets settled little changed following a volatile session to close out a volatile month as U.S. President Trump slammed China before sounding upbeat about reaching a trade deal - Dow added +54-points or +0.13% Nvidia Corp -2.92%

• US equity markets advanced and remain on track to log weekly and monthly gains, buoyed by a solid first quarter result from chip giant Nvidia Corp (up +3.25%) that saw its data centre business record . However, gains were capped as investors monitored judicial developments surrounding President Trump's “reciprocal” tariffs - Dow rose +11-points or +0.28% Boeing Co +3.32% and hit a 52-week high after Chief Executive Officer (CEO) Kelly Ortberg said its airplane deliveries to China will resume next month after handovers were paused amid a trade war with the Trump administration. Mr Orberg also said Boeing could ramp up production of its best-selling Max jets to 47 a month by the end of the year. Salesforce Inc dropped -3.3% and was the worst performing Dow component overnight the cloud software giant

US equity markets retreated and settled near their session lows ahead of the highly anticipated first quarter result from ‘Magnificent Seven' and Dow component Nvidia Corp after the closing bell - Dow fell -245-points or -0.58%

US equity markets settled sharply higher after resuming trading after the Memorial Day long weekend, with investors responding to President Trump's decision over the weekend to delay the implementation of a 50% tariff on imports from the European Union (EU) to 9 July from 1 June - Dow rose +741-points or +1.78% to 42,344, snapping a four session losing streak. Nike Inc (up +4.68%) and Nvidia Corp (+3.21%).

US equity and bond markets were CLOSED overnight in observance of Memorial Day. However, S&P 500 and Nasdaq futures were over >1% higher after President Trump delayed the 50% tariffs which were set to be imposed on the European Union (EU) on 1 June.

• US equity markets fell on Friday (23 May) after President Trump reignited tariff concerns with a series of social media posts - Dow lost -256-points or -0.61%, with Salesforce Inc (down -3.63%) the worst performer in the 30-stock index. Apple Inc (down -3.02%) fell for an eighth straight session after President Trump posted on his Truth Social website that the technology giant will have to pay a tariff of at least 25% for iPhones made outside the United States. "I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," President Trump wrote. Bank analysts estimated that a $US1200 iPhone would, if made in America, jump in price anywhere from US$1,500 to US$3,500.

• US equity markets steadied after steep losses in the previous session, - Dow flat, unwinding an earlier rally of as much a +-points. Nike Inc gained +2.23% and was the leading Dow component overnight after confirming that it will resume selling apparel and footwear on Amazon.com Inc's (+0.98%) platform for the first time since 2019. Separately, Nike said it intends to increase the prices of certain items by 1 June. UnitedHealth Group Inc (down -2.08%) was the worst performer in the 30-stock index for a second session running, under fresh pressure after the Centres for Medicare & Medicaid Services said it plans to take a more "aggressive" approach to auditing Medicare Advantage plans.

US equity markets fell sharply, pushing the Dow and S&P 500 back into negative territory for the calendar year-to-date as longer dated Treasury yields jumped and as investors kept close tabs on a sweeping tax and spending bill that's moving through Congress and could dramatically increase the federal deficit - Dow dropped -817-points or -1.91% UnitedHealth Group Inc (down -5.78%) was the worst performer in the 30-stock index overnight, having been the leading Dow component for the past three sessions. The Guardian reported that the health insurer giant had secretly paid nursing homes to reduce transfers of residents in need of care to hospitals. The company denied the allegations.

US equity markets recent rally paused as Treasury yields ticked higher - Dow eased -114-points or -0.27%. Nvidia Corp fell -0.88% Chief Executive Officer (CEO) Jensen Huang said Monday (19 May) the company would be opening its artificial-intelligence server platform to rival chip makers but he also warned the U.S. government's move to limit chip exports to China could hit revenue by $15B. UnitedHealth Group Inc (up +1.8%) was the leading Dow component for a third consecutive session, continuing to rebound from steep losses last week that was spurred by the departure of its CEO and reports that the health insurer faces a Department of Justice (DOJ) investigation and that saw the stock fall over >20% to hit 5-year low last Thursday (15 May).

US equity markets advanced, reversing earlier losses as investors digested Moody Ratings' decision after the close of trading last Friday (16 May) to downgrade the U.S.'s credit rating to Aa1 from Aaa - Dow rose +137-points or +0.32%, recovering from an earlier decline of -317-points. UnitedHealth Group Inc (up +8.21%) was the leading Dow component for a second straight session, continuing to rebound from steep losses last week that saw the stock fall over >20% and hit 5-year low last Thursday (15 May). The insurer disclosed after Friday's (16 May) close that new Chief Executive Officer (CEO) Stephen Hemsley spent US$25M to buy 86,700 shares, to bring his direct ownership to nearly 680K shares. And Chief Financial Officer (CFO) John Rex invested US$5M to buy 17,175 shares, to bring his direct ownership to a ~204K shares. JPMorgan Chase & Co (down -1.00%) after the investment bank hosted its annual investor day, reiterating its key financial guidance. JPMorgan maintained its forecast for full-year net interest income (NII) at ~US$94.5B, including US$90B excluding markets, and projected expenses to hold steady at ~US$95B. The bank also reaffirmed its 17% return on tangible common equity (ROTCE) target. Meanwhile, CEO chief Jamie Dimon warned against complacency in the face of a slew of risks, citing everything from inflation and credit spreads to geopolitics.

US equity markets advanced on Friday (16 May) to cap a strong week and despite news Moody Ratings had downgraded the US's highest investment grade position - Dow rose +332-points or +0.78% to 42,654.74, moving into positive territory for 2025. UnitedHealth Group Inc rebounded +6.40%, clawing back some of the heavy losses posted in the prior session amid reports that the insurer's Medicare Advantage business was the subject of a criminal probe. News of the investigation came on the heels of the insurance giant withdrawing its full-year guidance and announcing the departure of its CEO. Nvidia Corp added +0.42% ahead of CEO Jensen Huang taking the stage on Sunday (18 May) at Computex, an annual technology trade show, with this year's theme - “AI Next” - focused squarely on the emerging technology that has lately powered growth in the company's business. Microsoft Corp after offering a series of new concessions to the European Commission (EC) in a bid to settle a long-running antitrust investigation into the bundling of its Teams communications app with Office 365. Its proposal reportedly included unbundling Teams from its Office and Microsoft 365 software suites, offering those products at a lower price without Teams, and enhancing interoperability for rival services.

US equity markets advanced - Dow rose +272-points or +0.65%. Cisco Systems Inc rallied +4.85% and was the leading performer in the 30-stock index overnight after the networking company reported earnings per share (EPS) and revenue that topped consensus analysts' forecasts for the fiscal third quarter after the close of the previous session. UnitedHealth Group dropped -10.93% following a report from The Wall Street Journal (WSJ) published after the close of the previous session that said the Justice Department was investigating the insurer for possible Medicare fraud. UnitedHealth said in a statement it hadn't been notified by the Justice Department of the criminal investigation, adding that it stands “by the integrity of our Medicare Advantage program.” Apple Inc eased -0.47% after President Trump chided the company's Chief Executive Officer (CEO) Tim Cook, saying he wanted the iPhone maker to build more of its devices in the U.S. and not in India. “I had a little problem with Tim Cook yesterday. I said to him, Tim, you're my friend. I treated you very good. You're coming here with $500 billion but now here you are building all over India,” President Trump said in Qatar.

• US equity markets advanced - Dow slipped -89-points or -0.21%, with Merck & Company Inc down -4.12% was the worst performer in the 30-stock index. UnitedHealth Group Inc dropped over >7% in extended trading (after sliding -1.08% in regular trading) after the Wall Street Journal reported that the U.S. Justice Department is investigating the insurer for potential criminal fraud in its Medicare Advantage business. Nvidia Corp logged a third consecutive session of gains (up +4.16%), climbing over >15% over that stretch and seeing the chipmaker become the third member of the so-called ‘Magnificent Seven' cohort of large capitalisation stocks to move back into positive territory for the calendar year-to-date – joining fellow Dow component Microsoft Corp (+0.85%) and Meta Platforms Inc (+0.51%). Nvidia also saw its market capitalisation climb back above the US$3 trillion level for the first time since February a day earlier. Boeing Co (up +0.64%) inked a record-breaking order with Qatar Airways that will see the Middle East airline buy up to 210 jets from the US aerospace giant, marking Boeing's largest ever order of widebody aircraft. Qatar Airways also signed an agreement with GE Aerospace (+0.75%) for more than >400 engines to power the Boeing planes

US equity markets advanced as investors digested a cooler-than-expected inflation report that revived hopes of interest rate cuts later this year - Dow fell -270-points or -0.64%. UnitedHealth Group Inc slumped -17.79%, alone wiping ~410-points off the 30-stock index after the insurance giant withdrew its full-year outlook and announced the surprise exit of Chief Executive Officer (CEO) Andrew Witty after four years in the role. The withdrawal of the 2025 outlook comes less than a month after the company slashed its 2025 guidance, saying costs rose as Medicare Advantage care activity had increased at twice the expected rate. Nvidia Corp rallied +5.63% and climbed back above the US$3 trillion level in market capitalisation terms for the first time since February, buoyed by a Bloomberg report that President Trump is planning to unveil a deal that would afford Saudi Arabia more access to advanced chips manufactured by the company and the likes of Advanced Micro Devices (AMD) Inc (+4.01%). To deal with the U.S.'s national security concerns, the U.S. and Saudi governments have reportedly discussed creating data embassies, where data centres will fall under foreign regulations rather than local laws around data protection. Meanwhile, Nvidia Chief Executive Jensen Huang announced a deal to deploy 18,000 chips with newly launched Saudi AI firm Humain for a data centre that is expected to reach 500 megawatts. AMD also announced a US$10B partnership with the artificial intelligence (AI) company to build out its AI infrastructure over the next five years. Boeing Co rose +2.46% following reports that China had lifted its ban on deliveries of US-made aircraft.

US equity markets soared and settled near their session highs, with the three (3) benchmark indices logging their best single session performance since 9 April after the United States and China said they had agreed to a deal to cut reciprocal tariffs - Dow rose +1,161-points or +2.81% to 42,410.10, its highest close since 26 March and closing 12.66% above its 8 April closing low (37,645.59) to exit a technical correction. Eight of the 30 index components rallied over >5%, including Nike Inc (+7.34%).

A relatively muted end to the week for US equity markets following two-days of gains as investors braced for news from highly anticipated trade talks that are scheduled for this weekend in Switzerland between U.S. and Chinese officials - Dow eased -119-points or -0.29% U.S. Treasury Secretary Scott Bessent said “substantial progress” had been made in the weekend trade negotiations between US and China trade officials, adding that the Trump administration “will be giving details tomorrow, but I can tell you that the talks were productive.” In the same statement, U.S. Trade Representative Jamieson Greer agreed that it was “a very constructive two days. It's important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought.” China's delegation later described the weekend meetings as “candid, in-depth and constructive dialogue,” and said a joint statement would be issued Monday (12 May). No specific details of possible points of agreement were revealed by either side. On Friday (9 May), Trump floated the idea of bringing down China's tariff rate to 80%.

US equity markets advanced but settled well off their session highs, with investor sentiment buoyed a new trade agreement forged between the United States and Britain, while President Trump indicated upcoming talks with China would be “very substantive” and, if productive, could lead to tariff reductions - Dow rose +254-points or +0.62% to 41,368.48, just failing to exit official correction territory. Boeing Co rallied +3.31% and was the leading performer in the 30-stock index after U.S. Commerce Secretary Howard Lutnick said the UK would buy US$10B of aircraft from the aerospace company. Walt Disney Co +2.97% a day after the entertainment giant posted a stronger-than-expected adjusted earnings per share (EPS) and revenue and unveiled a plan to build a theme park in Abu Dhabi, United Arab Emirates.

US equity markets advanced after a choppy session as investors digested the latest corporate earnings releases and the Federal Reserve's monetary policy decision and soundbites from President Trump on tariffs and trade restrictions - Dow rose +285-points or +0.70%. Nvidia Corp (+3.10%) and the broader chip sector got a boost late in the session after Bloomberg reported that the Trump administration plans to rescind Biden-era AI chip curbs as part of a broader effort to revise semiconductor trade restrictions.

US equity markets retreated as investors digested a fresh slew of earnings reports and ahead of the Federal Reserve's latest interest rate decision tomorrow morning AEST - Dow fell -390-points or -0.95% Merck & Co -4.59% was the worst performer in the 30-stock index, while Amgen Inc (-3.43%) and UnitedHealth Group Inc (-2.54%) fell over >2.5%

US equity markets advanced - Dow eased -99-points or -0.24%, paring an earlier decline of over >250-points. Microsoft Corp (up +0.2%) extended the gap over Apple Inc (down -3.15%) as the largest company in the U.S. by market capitalisation

US equity markets advanced to cap as investors reacted to strong monthly employment data and news that China is evaluating the possibility of trade talks with the U.S. - Dow rose +564-points or +1.39% to 41,317.43. American Express Co (up +3.09%), 3M Co (+3.03%) and Nike Inc (+3.22%) all climbed over >3%. Nvidia Corp rose +2.59% a report in The Information that the artificial intelligence (AI) chipmaker is working to design semiconductors to sell in China that would comply with U.S. trade restrictions. Microsoft Corp rallied +2.32%, lifting its market capitalisation to ~US$3.235 trillion and pushed passed Apple Inc (down 3.74%, market capitalisation ~US$3.067 trillion) to become the largest company in the U.S. by market capitalisation as investors responded to the latest quarterly results from the technology giants last week. Apple CEO Tim Cook said Trump administration tariffs could cost the iPhone maker US$900M this quarter. Meanwhile, Microsoft closes Skype tonight AEST, the pioneering video-calling service it acquired for US$8.5B 14 years ago.

US equity markets made a positive start to May, with the Dow and S&P 500 extending their rally into an eighth consecutive session amid fresh gains for megacap technology stocks - Dow added +84-points or +0.21% Microsoft Corp +7.63% was the leading performer in the 30-stock index the technology giant reported better-than-expected third-quarter financials after the close of the previous session amid soaring cloud demand. Nvidia Corp rose +2.47% investors welcomed the news that Microsoft and Meta Platforms Inc expect to continue investing heavily in artificial intelligence (AI) infrastructure

• A late rally lifted the Dow and S&P 500 into positive territory for a seventh consecutive session to cap a very volatile month, erasing earlier declines that followed data recording that the US economy contracted for the first time in three years in the first quarter - Dow rose +142-points or +0.35%, recovering from an earlier slide of more than >780-points. Verizon Communications Inc (up +2.58%) and Chevron Corp (down -2.33%) were the best and worst performers respectively in the 30-stock index overnight

The Dow and S&P 500 extended their rally into a sixth consecutive session after Commerce Secretary Howard Lutnick said the Trump administration has negotiated its first trade deal with an unnamed country - Dow rose +300-points or +0.75%, logging its longest winning streak since the period ended 17 July, 2024. Amazon.com Inc slipped -0.17%, recovering from an earlier decline of more than >2%, after White House Press Secretary Karoline Leavitt called the company's reported plan to highlight the impact of tariffs in its pricing a "hostile and political act." Amazon later said such a plan "was never approved and is not going to happen."

The Dow and S&P 500 posted a fifth consecutive session of gains, booking their longest winning streak of 2025 to date and settling well off their session lows in a muted trading to open a very busy week of corporate earnings and economic data - Dow rose +114-points or +0.28%. Boeing Co rose +2.44% to US$182.30, buoyed by an upgrade from analysts at Bernstein to ‘outperform with a target price of US$218 (from US$181 previously), and as its deal to reacquire Spirit AeroSystems Holdings (+2.61%) cleared another hurdle. International Business Machines (IBM) Corp +1.61% after pledging a US$150B investment over the next five years to aid the development of technology in the U.S. The company said it would invest more than US$30B in research and development to continue its domestic manufacturing of mainframe and quantum computers. Nvidia Corp fell -2.05% following a Wall Street Journal (WSJ) report that China's Huawei Technologies has developed a new chip called the Ascend 910D, with hopes it will become be more powerful than Nvidia's H100. Huawei is already poised to ship more than 800,000 of its Ascend 910B and 910C chips to customers including state-owned telecommunications carriers and private AI developers, such as TikTok's parent ByteDance, according to the WSJ. Nvidia's H100 was released in 2022 and has since been superseded by later generations of its Hopper chips and its new Blackwell AI semiconductors. Nvidia is prohibited from selling its most powerful AI chips to Chinese companies.

US equity markets extended their strong rebound into a fourth consecutive session on Friday (25 April), lifting the S&P and Nasdaq to their highest settlements since 2 April (the day the Trump administration unveiled sweeping tariffs on America's trading partners) – Dow edged +20-points or +0.05% higher after climbing +487-points or +1.23% last Thursday (24 April). Nvidia Corp (up +4.30%) was the leading performer in the 30-stock index. Merck & Co Inc rose +3.63% a day after the pharmaceutical major delivered better-than-expected first-quarter financial result, with EPS of US$2.22 (versus consensus US$2.13) and revenue of US$15.5B (versus consensus US$15.4B) topping consensus analysts forecasts. The pharmaceutical major slightly lowered its earnings forecast for 2025 to account for a US$200M upfront payment to Hengrui Pharma in a licensing deal, now projecting non-GAAP EPS of between US$8.82 and US$8.97 (down from a range of between US$8.88 and US$9.03 previously).

US equity markets advanced, consolidating the strong gains recorded in the previous session and lifting the S&P 500 and Nasdaq to their highest settlements since 15 April as investors continued to cheer a cooling President's rhetoric around tariffs and his criticism of Federal Reserve Chair Jerome Powell- Dow rose +420-points or +1.07% to 39,606.57, paring an earlier rally of as much as 1,189-points that lifted the index to 40,376.11. Amazon.com Inc (up +4.28%) and Nvidia Corp (+3.86%) both gained ~4%.

US equity markets rebounded strongly, more than recouping the previous session's sharp declines as investors digested a busy corporate earnings calendar and comments from Treasury Secretary Scott Bessent - Dow rose +1,017-points or +2.66%, with all 30 index components advancing. Nvidia Corp +2.04% after Amazon.com Inc (+3.50%) pushed back against reports that it was pulling back on building artificial-intelligence (AI) infrastructure. “This is routine capacity management, and there haven't been any recent fundamental changes in our expansion plans,” wrote Kevin Miller, vice president of global data centres (DC) at Amazon Web Services (AWS), in a post on LinkedIn late Monday (21 April) in response to reports that the Cloud business delayed several new DC leases. Boeing Co rose +2.00% after the aerospace company agreed to sell portions of its Digital Aviation Solutions business to private-equity firm Thoma Bravo in a deal worth US$10.55B.

US equity markets resumed trading following the Good Friday holiday with steep losses, with the so-called ‘Magnificent Seven' cohort of large capitalisation technology stocks under particular pressure - Dow shed -972-points or -2.48%, extending its decline into a fourth consecutive session. UnitedHealth Group Inc (down -6.34%) was the worst performing Dow component overnight, extending the health insurer's two-day decline to -27.3% - the stock's worst two-day performance since 7 August, 1998 – after releasing its first quarter result last Thursday (17 April) and lowering its annual profit forecast on expectations of high medical costs for the rest of the year. Nvidia Corp lost -4.51% after Reuters reported that Huawei Technologies planned to begin mass shipments of an advanced artificial intelligence (AI) chip to customers in China as early as next month. Meanwhile, Chief Executive Officer (CEO) Jensen Huang met Japanese Prime Minister Shigeru Ishiba on Monday (21 April), following a meeting with Chinese leaders in Beijing last Thursday (17 April). Nike Inc (up +0.65%) was the only Dow component to advance overnight.

US equity markets tumbled as investors digested news of U.S. restrictions on chip exports to China and Federal Reserve Chair Jerome Powell's latest assessment of the economy - Dow dropped -700 or -1.73% Nvidia Corp -6.87% after disclosing in a filing with the Securities and Exchange Commission (SEC) after the close of the previous session that sales of its H20 chips to China would require licenses from the Department of Commerce “for the indefinite future”. The chipmaker said it would record charges in its fiscal first quarter of up to US$5.5B for inventory and cancelled sales.

US equity markets retreated in muted trading - Dow fell -156-points or -0.38% Boeing Co fell -2.36% and was the worst performer in the 30-stock index after a Bloomberg report said China ordered its airlines not to take any further deliveries of the company's jets, marking the latest escalation in the trade war between Washington and Beijing.

US equity markets advanced after another choppy session following another flurry of tariff-related headlines, but settled well off their session highs - Dow rose +312-points or +0.78% to 40,524.79. Apple Inc rose +2.21%, paring an earlier gain of as much as +7.5% after the US administration that some consumer electronics and computer hardware would be exempt from the reciprocal 125% trade tariffs placed on China. Nvidia Corp (down -0.20%) said it would for the first time make artificial-intelligence (AI) supercomputers entirely in the United States. Nvidia said it expects to produce up to US$500B in AI infrastructure in the U.S. with its partners within the next four years.

US equity markets advanced as investors digested another busy slate of information including the latest developments in a trade war with China, earnings reports from major banks and economic data - Dow rose +619-points or +1.56%, with the 30-stock index trading in an 1,150 point range after swinging more than >2,000 points between its high and low for the day in each of the preceding four (4) trading sessions. Apple Inc (up +4.06%) was the leading Dow component on Friday (11 April) amid growing optimism the iPhone maker could win an exemption from the Trump administration's tariffs. Nvidia Corp, which outsources manufacturing to Taiwan Semiconductor Manufacturing Company (TSMC) Ltd (up +3.94% on the New York Stock Exchange), gained +3.12% after the China Semiconductor Industry Association said chips made by U.S. firms with outsourced manufacturing operations would not be subject to tariffs on U.S. goods. Meta Platforms Inc (up +7.7%) and the Federal Trade Commission face off tonight AEST over antitrust allegations which could force the social media giant to unwind its acquisition of messaging platform WhatsApp and photo-sharing app Instagram. Chief Executive Officer (CEO) Mark Zuckerberg is expected to appear in the witness stand.

US equity markets retreated, handing back a portion of the huge gains logged in the previous session's near record breaking rebound. Losses accelerated after the White House confirmed that the cumulative tariff rate on China would actually total 145% (consisting of the new 125% duty on goods, on top of the 20% rate levied in response to the fentanyl crisis), overshadowing cooler-than-expected inflation figures.

US equity markets soared, arresting a four-session slide after President Trump's decision to delay some of the tariffs announced last week for 90 days, effective immediately, unleashed a flood of buying - Dow rallied +2,963-points or +7.87% biggest percentage advance since March 2020. Nvidia Corp soared +18.72% to lead all 30 index components higher, while Apple Inc (+15.33%, logging its best daily performance since January 1998 and adding more than >US$400B in market capitalisation) and Boeing Co (+15.37%) both jumped over >15%.

A late session slide erased earlier strong gains on US equity markets to cap another volatile session after Beijing vowed to "fight to the end" in response to President Trump's threat of imposing new 50% tariffs unless China rapidly removed its retaliatory measures - Dow settled -320-points or -0.84% lower, having been up as much as +1,461-points or +3.85% at its session peak – marking the biggest erased percentage gain since April 2020. Apple Inc (down -4.98%) extended its decline into a fourth straight session, with White House press secretary Karoline Leavitt saying that President Trump “absolutely” wants iPhones to be manufactured in the U.S. (the company currently assembles a large majority of its products in China). The Times of India reported that Apple transported five planes full of iPhones and other products from India to the US in just three-days during the final week of March to avoid a 10% reciprocal tariff that took effect on 5 April. Nike Inc (-4.21%) also fell over >4%. Nvidia Corp (fell -1.37%)

Michael Knox, Morgans Chief Economist discusses why Trumps moves make sense and how Albanese has been poorly briefed on the matter. Listen in to hear his insights

US equity markets mixed after another volatile as the sweeping Trump administration tariff measures continued to reverberate, with the president threatening even higher rates against China and the White House denying reports that they were considering a 90-day tariff pause on all countries except China - Dow fell -349-points or -0.91%, spiking as much as +2.3% during a brief morning session surge. The Dow swung more than >2,500 points between its intra-day low and high, its largest intra-day points swing on record and all within the opening hour of trading. Apple Inc fell -3.67% after declining -7.3% last Friday (4 April) and was the worst performing Dow component overnight. The iPhone maker, which assembles a large majority of its products in China, slumped -13.6% last week to see US$443.5B wiped off its market capitalisation, the largest weekly market cap decline on record, according to Dow Jones Market Data. Home Depot Inc (down -3.5%) and Travelers Companies Inc (-3.48%) both fell ~3.5%. Nvidia Corp (up +3.53%) was the leading performer in the 30-stock index.

Friday (4 April) marked another brutal session for US equity markets as China responded in kind to the Trump administration's tariff measures and further fanned recession fears - Dow dropped -2,231-points or -5.50% , with Boeing Co (down -9.49%) and 3M Co (-9.18%) both fell over >9% to lead all 30-index components lower with the exception of Nike Inc (up +3%). The latter was buoyed by a friendly social-media post from President Trump about Vietnam, a country Nike relies on heavily to manufacture their products. China's finance ministry announced its own 34% tariff on all US imports, effective 10 April. The levy matches the 34% import duty the White House said it would impose on Chinese products slated to go into effect no later than 9 April. Beijing said Trump's tariffs were "inconsistent with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice." In addition to the tariffs, China imposed export bans on select rare earth materials and added two US drone manufacturers to its "unreliable entities" list, effectively restricting their access to Chinese components. It also expanded its “unreliable entity list” by 11 American companies and launched an anti-dumping investigation into imports of medical CT tubes from the U.S. and India.

US markets tumbled overnight as fears around a potential recession pick up. The US markets appearing to be the biggest losers after the tariff announcement.

The US stock market turned up late overnight, as investors await Trumps so called “Liberation Day” tariffs. However, since the announcement the markets have dropped in aftermarket trading, with the Dow futures down -1.8%, S&P500 futures down > -3%, and the Nasdaq futures down > -4%. So far Trump has promised a minimum 10% tariff on all countries, with larger tariffs on certain countries and industries. So far the major tariffs are 34% on China, 20% on the EU, 26% on India, and 10% on Australia and the UK.