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US equity markets declined on Friday (17 July) amid fresh decline for semiconductor stocks and as oil prices continued to climb – Dow fell -407-points or -0.77%. Coca-Cola Co dropped -3.96% after it disclosed a “ransomware event” involving its dairy company Fairlife. Coca-Cola said that “the full scope, nature and impacts of the incident are not yet known,” and although “product quality and safety have not been impacted,” Fairlife production operations in the U.S. are temporarily suspended. Goldman Sachs Group Inc (down -2.76%), Home Depot Inc (-2.63%) and International Business Machines (IBM) Corp (-2.91%) fell over >2.5%.

US equity markets weekend 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.

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.

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%. Salesforce Inc rallied +4.84% to be the leading performer in the 30-stock index. Apple Inc rose +0.63% to US$317.31 and touched a record high (US$323.45), with analysts at Citigroup lifting their target price on the technology giant to US$365 from US$315 previously, noting they believe “Apple's ability to implement selective price increases will help offset margin pressures, while its premium brand and loyal customer base should limit demand weakness.” They also noted that the iPhone 18 launch in September could be an important catalyst that bolsters investor sentiment.

US equity markets mostly weaker on Friday as attention turns to corporate earnings this week. Dow climbed 150 points or 0.3 of a percent. Nike with a 3.7% rally while IBM fell 2.6%.

• US equity markets advanced, bolstered by a rebound for semiconductor and memory stocks and a fall in oil prices – Dow added +139-points or 0.27%. Cisco Systems Inc (+3.94%) and American Express Co (+3.07%) rallied over >3%. Goldman Sachs Group Inc rose +2.56% after the investment bank won deals to manage a combined US$70B in retirement assets for Verizon Communications Inc (down -0.49%) and Lockheed Martin Corp (-1.84%). International Business Machines (IBM) Corp (down -2.23%) and Salesforce Inc (-2.45%) fell over >2%. A Bloomberg report said Starbucks Corp (up +2.45%) had tapped artificial intelligence (AI) to replace applications it currently purchases from IBM and Microsoft Corp (+0.27%). Starbucks spends ~US$400M annually on software, Chief Technology Officer (CTO) Anand Varadarajan told workers in an internal forum earlier this year, adding that "There's clear opportunities to reduce the spend in software,"

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 weaker amid a fresh rotation out of semiconductor stocks into areas like healthcare and financials – Dow fell -131-points or -0.25% to 52,925.15 after scaling a fresh record intra-day high of 53,289.30 earlier in the session. Caterpillar Inc fell -3.07% to be the worst performer in the 30-stock index after announcing that it had acquired Skycatch, which it described as “a leading provider of spatial data capture, processing and analysis solutions for the mining industry.” Some analysts also cited a broker downgrade to European power generation equipment provider Siemens Energy (see below) as a drag on Caterpillar and GE Vernova Inc (-6.51%). Chevron Corp (up +3.52%) was the leading Dow component, tracking a spike on crude markets.

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 Day

U.S. stocks closed mixed on Thursday, with the Dow Jones Industrial Average gaining 594.83 points (+1.14%) and recording its 20th record close of 2026, as investors rotated into more defensive and cyclical sectors ahead of the extended July 4 holiday weekend.

• 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 rallied on Tuesday to close out a strong quarter, with the Dow Jones capping its best half of the year since 2021 and registering a record closing high for the second straight day.

• US equity markets opened the holiday-shortened trading week with solid gains – Dow rose +307-points or +0.59% to 52,182.74, closing above 52,000 for the first time on record to mark its fourth 1,000-point milestone in 2026, according to Dow Jones Market Data. For comparison, the 30-stock index set three 1,000-point milestones in all of 2025. It took just 20 trading days for the index to move from its last milestone to 52,000, the shortest gap since the climb from 49,000 to 50,000 in February, when it took 22 trading days. Alphabet Inc rose +4.82% on its first day as member of the Dow Jones Industrial Average (DJIA), replacing Verizon Communications Inc as part of changes that S&P Dow Jones Indices to its marquee stock indexes last week. Alphabet is still tracking for its worst month since February of last year, logging weekly declines for six of the past seven weeks. It marks a sharp reversal from May, when the company briefly eclipsed Nvidia Corp (+1.27%) in after-hours trading to become the world's most valuable company by market capitalisation. Caterpillar Inc (+3.58%) and Cisco Systems Inc (+3.45%) both rose ~3.5%.

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US equity markets mixed after resuming trading following the holiday long weekend, with mega-capitalisation technology stocks a key drag – Dow added +148-points or +0.29%. Caterpillar Inc (up +3.7%) was the leading performer in the 30-stock index for a second consecutive session. [Unlike most major stock indexes, which weigh components based on market capitalization (or a modified version of it), the Dow weighs its 30 stocks by share price. Caterpillar is the Dow's second-highest priced stock, only behind Goldman Sachs Group Inc (+0.89%)]. Amazon.com Inc (down -4.75%) and Nike Inc (-4.45%) fell over >4%, while Microsoft Corp (-3.18%) and McDonald's Corp (-3.05%) lost over >3%. International Business Machines (IBM) Corp rose ~4% in extended trading (after rising +1.25% in the regular session) after President Trump signed executive orders aimed at accelerating quantum research, laying the groundwork for federal agencies to adopt the technology and strengthen US defences against cyberattacks.

US equity markets and bond markets were CLOSED on Friday (19 June) for Juneteenth. The US corporate calendar this week sees cruise operator Carnival Corp, semiconductor group Cerebras Systems Inc, FedEx Corp and KB Home Inc release quarterly results on Tuesday night AEST (23 June)., Micron Technology Inc and PayChex release quarterly results on Wednesday night AEST (24 June). Darden Restaurants and Winnebago Industries release quarterly results on Thursday night AEST (25 June).

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 rallied for third straight session and oil prices tumbled to open the holiday-shortened week a day after the U.S. and Iran reached a preliminary deal to end their months-long war and reopen the Strait of Hormuz – Dow climbed +469-points or +0.92% to a record closing high of 51,671.03. Boeing Co gained +4.52%, while Amazon.com Inc (+3.13%), American Express Co (+3.05%), Honeywell International Inc (+3.22%) and Nvidia Corp (+3.54%) all rallied over >3%. According to a preliminary filing with the Securities and Exchange Commission (SEC), Nvidia plans to raise debt across seven tranches, with maturities between 2028 and 2056. Reuters reported that the chip maker is looking to issue US$20B worth of bonds, which would mark Nvidia's first corporate bond sale since 2021, when the company raised US$5B.

US equity markets rallied on Friday (12 June) as investors held out hope for a peace deal between Iran and the United States and as Space Exploration Technologies Corp - or SpaceX – made an impressive debut on the Nasdaq exchange – Dow rose +354-points or +0.70%. American Express Co (+2.31%), investment banks Goldman Sachs Group Inc (+2.62%) and JPMorgan Chase & Co (+2.31%), and Verizon Communications Inc (+2.49%) all rose over >2%.

US equity markets rebounded sharply, booking their biggest single session percentage gains since 8 April (when the U.S. and Iran agreed to a temporary ceasefire) after President Trump cancelled planned strikes against Iran, and on the eve of the ‌market debut of SpaceX – Dow climbed +930-points or +1.86%, with Boeing Co (+6.04%) and Honeywell International Inc (6.43%) jumping over >6%. Amgen Inc (+4.84%), Caterpillar Inc (+4.84%), Nike Inc (+4.55%) and Sherwin-Williams Co (+4.27%) all rallied over >4%.

US equity markets fell sharply as heightened geopolitical conflict in the Middle East and concerns about rising inflationary pressures hit investor sentiment – Dow dropped -953-points or -1.87% to 49,918.78, booking its first close below 2.5%.

US equity markets mixed amid a fresh rotation out of technology stocks into more defensive sectors and following another night of erratic headlines around the Middle East conflict – Dow edged +86-points or +0.17% higher, with Home Depot Inc (+3.75%), Nike Inc (+3.28%) and Sherwin-Williams Co (+3.67%) all rallying over >3%. Salesforce Inc (down -3.94%) was the worst performer in the 30-stock index. Apple Inc fell -3.64% a day after the company's annual Worldwide Developers Conference kicked off. Cisco Systems Inc (-3.05%) also fell over >3%.

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.

• US equity markets settled with modest gains that lifted the three (3) main US equity benchmarks to fresh record closing highs as investors continued to shrug off ongoing uncertainty around the US-Iran peace negotiations – Dow rallied +229-points or +0.45% to 51,307.79. Cisco Systems Inc (up +5.5%) and Caterpillar Inc (+5.14%) rallied over >5%, while Apple Inc (+2.9%) and International Business Machines (IBM) Corp (+2.75%) gained over >2.5%.. Nvidia Corp eased -0.69%, handing back some of the previous session's +6.26% rally that came after the world's most valuable company by market capitalisation unveiled its new RTX Spark superchip at COMPUTEX Taipei, an expo on artificial intelligence (AI), computing, and robotics. Nvidia is also slated to present at the Bank of America Securities 2026 Global Technology Conference on Thursday night AEST (4 June). Microsoft Corp (down -4.17%), Nike Inc (-4.79%) and Salesforce Inc (-4.18%) all declined over >4%.

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.

The three (3) main US equity benchmarks climbed to fresh record intra-day and closing highs for a third straight session on Friday (29 May) to cap another strong month as technology shares continued to lead the market higher and crude prices eased – Dow rallied +363-points or +0.72% to 51,032.46.

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.

• US equity markets recorded modest gains that lifted the S&P500 and Nasdaq to fresh record closing highs for a second straight session – Dow rose +183-points or +0.36%. Procter & Gamble Co +3.17% was the leading Dow component amid a rotation into healthcare and consumer stocks. Amazon.com Inc (+2.47%), Boeing Co (+2.47%), Home Depot Inc (+2.35%) and Nike Inc (+2.31%) all rose over >2%. JPMorgan Chase & Co -2.43% after Chief Executive Officer (CEO) Jamie Dimon warned that expenses this year could be US$1B higher than estimated. Nvidia Corp -1.05%

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 and bond markets were CLOSED overnight for Memorial Day. S&P500 and Nasdaq futures are trading over >1% higher this morning AEST amid building optimism around a resolution to the US-Iran conflict and a re-opening of the Straight of Hormuz.

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).

US equity markets fell on Friday (15 May) as oil prices and bond yields climbed – Dow fell -537-points or -1.07%. Nvidia Corp (down 4.42%) was the worst performer in the 30-stock index on Friday (15 May). Chief Executive Officer (CEO) Jensen Huang is slated to address the Dell Technologies World annual convention in Las Vegas tonight AEST, having Caterpillar Inc shed -3.47%. Microsoft Corp up +3.05% with Bill Ackman posting on the X platform that his Pershing Square had taken a new stake in the company. Salesforce Inc (+3.54%) also rallied over >3%.

Wall Street extended its rally, with the S&P500 and Nasdaq booking fresh record intra-day and closing highs for a second consecutive session amid fresh gains for technology stocks – Dow rallied +370-points or +0.75%, climbing back above >50,000 for the first time since 11 February and settling just shy of its all-time closing high reached on 10 February (50,115.67). Cisco Systems Inc jumped +13.41% to be the leading performer in the 30-stock index after the networking giant reported better-than-expected adjusted earnings per share (EPS) and revenue for the fiscal third quarter after the close of the previous session and provided upbeat guidance for the current quarter. Nvidia Corp rallied +4.39% to a fresh record closing high of US$235.74 after Reuters reported that the U.S. has cleared about 10 Chinese firms to purchase Nvidia's H200 chip, though no deliveries have been made yet. Nvidia Chief Executive Officer (CEO) Jensen Huang is among US corporate executives attending a summit in China with President Trump. Boeing Co after President Trump told Fox News that China has agreed to buy 200 Boeing jets, disappointing analysts who were expecting up a larger order.

The S&P500 and Nasdaq scaled fresh record intra-day and closing highs as chip stocks powered higher and overshadowed hotter-than-expected wholesale inflation figures – Dow slipped -67-points or -0.14%, with Salesforce Inc (down -3.19%) the worst performer in the 30-stock index for a second straight session. Home Depot Inc (down -2.55%) and International Business Machines (IBM) Corp (-2.09%) fell over >2%. Apple Inc (up +1.38% to US$298.87) touched US$300 for the first time, hitting a record intra-day high of US$300.92. Walmart Inc rose +0.86% after The Wall Street Journal reported, citing people familiar with the situation, that the retail giant - the largest private employer in the U.S. - "would cut or relocate about 1,000 corporate workers as it looks to combine more of its global-technology and product teams." A source familiar with the matter confirmed the figure was accurate.

US equity markets retreated as hotter-than-expected inflation figures punctured a rally in chip stocks – Dow added +56-points or +0.11%. UnitedHealth Group Inc (up +3.11%) the leading component in the 30-stock index. Apple Inc +0.72% Salesforce Inc fell -3.48%, while Caterpillar Inc (down -1.58%) and International Business Machines (IBM) Corp (-1.94%) both fell over >1.5%.