16 MAY. 2024 · US equity markets settled with modest declines a day after all three (3) benchmark indices logged record closing highs - Dow slipped -39-points or -0.10% to 39,869.38, briefly topping >40,000 for the time earlier in the session. American Express Co (-0.16%) and Amazon.com Inc (-1.27%) are the two top performing Dow stocks so far this year, up +28.81% and +20.86% respectively year-to-date. However, given the Dow is a price-weighted average it’s Caterpillar Inc (down -2.59%) and Goldman Sach Group Inc (-0.34%) that have been the biggest points contributors to the 30-stock index this year to date.

15 MAY. 2024 · All three (3) benchmark US equity indices rallied to record highs, with investor sentiment buoyed by the first cooler-than-expected consumer inflation print in four months accompanied by softer retail sales in April - Dow climbed +350-points or +0.88% to 39,908.00, settling with its 18th record close of 2024. Salesforce Inc (up +3.88%) was the leading performer in the 30-stock index, while Amgen Inc (+2.45%), Home Depot Inc (+2.4%) and Merck & Co Inc (+2.39%) climbed ~2.5%. On the downside, Walt Disney Co fell 2.45% after Chief Executive Officer (CEO) Bob Iger said the company had invested too much in its streaming service and was taking steps to address enduring profitability challenges. Boeing Co fell 2.09% after the Department of Justice said the jet maker had violated a 2021 settlement stemming from two fatal 737 crashes.

15 MAY. 2024 · US equity markets advanced, shrugging off stronger-than-expected wholesale inflation data and with investors’ focus now turning to the latest consumer price inflation figures tonight AEST - Dow rose +127-points or +0.32%. Boeing Co rose +1.30% despite delivering fewer jets in April amid quality problems that forced a slowdown in production. The company reported that it shipped 24 jets in April (including 16 737 MAX jets), down from a total of 29 jets in March (including 24 MAX jets). In April 2023, Boeing delivered 26 jets, including 17 MAX jets. Thus far in 2024, Boeing has delivered 107 jets, including 82 MAX jets. That compares with 156 jets in the first four months of 2023, including 128 MAX jets. Intel Corp (up +1.77%), American Express Co (+1.21%) and JP Morgan Chase & Co (+1.4%) also all rose over >1%.

13 MAY. 2024 · US equity markets mixed following a session absent any major news or data, and with investors eyeing the latest round of inflation figures - Dow eased -81-points or -0.21%, snapping an eight session winning streak. Intel Corp rose +2.21% after The Wall Street Journal reported that the company is in talks with Apollo Global Management about providing US$11B in funds to help the chipmaker build a plant in Ireland.

12 MAY. 2024 · - US equity markets advanced although investor sentiment was kept in check after consumer sentiment data (including inflation expectations) deteriorated and ahead of inflation data later this week - Dow rose +125-points or +0.32%, booking an eighth consecutive session advance and best weekly performance of 2024 to date. Goldman Sachs Group Inc settled -0.18% lower after touching a record intra-day high of US$458.75. - The broader S&P500 added +0.16%, with Consumer Staples (up +0.64%), Information Technology (+0.48%) and Financials (+0.46%) the leading primary sector performers on Friday (10 May). Consumer Discretionary (down -0.61%) and Energy (-0.55%) were the laggards. - The Nasdaq dipped -0.03%. - The small capitalisation Russell 2000 lost -0.67%.

9 MAY. 2024 · US equity markets advanced as the latest weekly jobless claims figures fuelled fresh optimism around Federal Reserve interest rate cuts - Dow rallied +331-points or +0.85% to 39,387.76 to book its seventh consecutive session advance and highest close since 1 April. The 30-stock index also settled within 1.1% of its 28 March record closing high (39,807.37). Home Depot Inc (up +2.54%) and Caterpillar Inc (+2.11%) climbed over >2% to be the leading index components overnight. 

9 MAY. 2024 · US equity markets were mixed following a subdued session - Dow sealed its sixth consecutive session advance, rising +172-points or +0.44% to 39,056.39 to book its longest winning streak since the period that ended on 19 December (when the index rose for nine straight trading days). It also marked the first time that the 30-stock index closed above >39,000 since 3 April.  

8 MAY. 2024

8 MAY. 2024 · US equity markets advanced, building on last Friday’s (3 May) strong gains - Dow extended gains into a fourth straight session, up +177-points or +0.46%. Walt Disney Co (up +2.47%) was the leading performer in the 30-stock index ahead of the release of its fiscal second quarter result tonight AEST. Apple Inc fell -0.91% following news over the weekend that Berkshire Hathaway Inc, the largest shareholder in the iPhone maker, had reduced its stake in the company by ~13% (albeit it still comfortably remains the investment conglomerate’s largest position). The company hosts a product launch event tonight AEST called ‘Let Loose’ (with some expecting the release of a new iPad tablet). Meanwhile, iPhone manufacturer Foxconn - which trades as Hon Hai Precision Industry in Taiwan – jumped +7.37% and hit a record intra-day high (NT$168.50) after the company reported a 19.03% year-on-year rise in April revenue (to 510.9B New Taiwan dollars). The company said that its component business, as well as its cloud and networking products “delivered strong growth,” while its smart consumer electronics and computing products segment “showed significant year on year growth in revenue.”

5 MAY. 2024 · US equity markets rallied on Friday (3 May) after the latest jobs data printed weaker-than-expected for the first time in four months, with all three benchmark indices rising over >1% on the same day for the first time since 22 February  - Dow rallied +450-points or +1.18%. Apple Inc gained +5.98%, with the iPhone maker logging its best single session gain since 30 November, 2022 after unveiling stronger-than-expected fiscal second quarter result after the close of the previous session that included a record US$110B share buyback programme. Amgen Inc +11.82% - its best single session advance since 2009 - after the biopharmaceutical giant posted quarterly earnings that came in ahead of expectations and provided a positive update about trials of its injectable weight-loss drug MariTide after the close of last Thursday’s (2 May) session.