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US equity markets resumed their slide, dragging the S&P500 to a fresh 2022 low amid a broad-based decline - Dow fell -458-points or -1.54%, having been down as much as -686-points at its session lows. The broader S&P500 dropped -2.11% to 3,640.47, logging its lowest close since 30 November, 2020. Utilities (down -4.07%) led all eleven primary sectors lower. Energy outperformed albeit the sector se...

US equity markets resumed their slide, dragging the S&P500 to a fresh 2022 low amid a broad-based decline - Dow fell -458-points or -1.54%, having been down as much as -686-points at its session lows. The broader S&P500 dropped -2.11% to 3,640.47, logging its lowest close since 30 November, 2020. Utilities (down -4.07%) led all eleven primary sectors lower. Energy outperformed albeit the sector se...

The Dow and S&P500 snapped a six session losing streak, advancing for the first time since the Federal Reserve hiked interest rates again a week ago as Treasury yields retreated sharply and following a surprise intervention from the Bank of England (BoE) in the U.K. government bond market - Dow climbed +549-points or +1.88% to 29,683.74 a day after logging its lowest close since 12 November, 2020....

US equity markets retreated, pushing the Dow into official bear market territory for the first time in more than two years amid further volatility in bond and currency markets

US equity markets continued to slide on Friday (23 September), capping a tumultuous week dominated by hawkish central bank updates that exerted particular pressure on growth stocks - Dow fell -486-points or -1.62% to 29,590.41, carving out a fresh 2022 closing low despite paring an earlier decline of as much as -826-points, and settling at its lowest level since 20 November, 2020. It also marked t...

US equity markets retreated amid mounting concerns that the Federal Reserve’s aggressive monetary policy will tip the economy into a recession - Dow fell -107-points or -0.35%. Salesforce Inc rose +1.71% after the customer relationship management software company hosted an Investor Day, reiterating the fiscal 2023 revenue outlook of ~US$31B, after the company cut the outlook in May (to a range of...

US equity markets retreated as Treasury yields continued to climb on the eve of the Federal Reserve’s latest interest rate decision - Dow down -313-points or -1.01%, falling as much as -550-points earlier in the session. The broader S&P500 fell -1.13%, with Real Estate (down -2.57%) and Materials (-1.90%) leading all eleven primary sectors lower. Ford Motor Co tumbled -12.32% to log its worst sing...

US equity markets logged modest gains ahead of the Federal Reserve kicking off their latest two day monetary policy meeting tonight AEST - Dow up +197-points or +0.64%, recovering from an earlier session decline of as much as -263-points. The broader S&P500 added +0.69%, with Materials (up +1.63%), Consumer Discretionary (+1.34%), Industrials (+1.33%), Utilities (+1.32%) and Financials (+1.12%) al...

US equity markets retreated to two-month lows on Friday (16 September) to cap a tough week for stocks amid ongoing inflation concerns, looming further interest rate hikes and some fresh warning signs about economic growth - Dow fell -139-points or -0.45%, paring an earlier decline of as much as -412 points. Goldman Sachs Group Inc's fell -1.63%, with Bloomberg Law reporting that the company’s cons...

US equity markets retreated, extending losses in the afternoon session as a slew of economic data failed to alter expectations for further aggressive monetary policy tightening - Dow fell -173-points or -0.56%, The broader S&P500 lost -1.13% but held just above >3,900, with Energy (down -2.54%), Utilities (-2.53%), Information Technology (-2.37%) and Real Estate (-2.24%) all declining over >2% to...

US equity markets settled with modest gains after a choppy session, steadying after a hotter-than-expected August consumer price inflation (CPI) saw the benchmark indices record their worst single session declines since Jun 2020 in the previous session - Dow edged +30-points or +0.10% higher, recovering from an earlier slide of as much as 200-points. The broader S&P500 added +0.34%, with Energy (u...

US equity markets tumbled, recording the worst sell-off since the early days of the COVID pandemic as a stronger-than-expected August inflation report punctured a four day rally and brought a +100 basis point interest rate hike into play next week - Dow dropped -1,276-points or -3.94%, with all 30 index components settling in the red. The broader S&P500 shed -4.32%, with Communication Services (do...

The S&P500 and Nasdaq equity extended their rebound into a fourth consecutive session ahead of tonight’s AEST August inflation figures, with a number of traders pointing to a ‘short squeeze’ - Dow settled +230-points or +0.71% higher, having been up as much +352-points at its session peak. Goldman Sachs Group Inc (up +0.73%) will cut jobs as early as this month after pausing the annual practice fo...

US equity markets rallied on Friday (9 September) to secure their first weekly advance in four weeks, shrugging off some fresh hawkish commentary from Federal Reserve officials and with traders eyeing inflation figures later this week - Dow gained +377-points or +1.19%, The broader S&P500 rose +1.53%, with Communication Services (up +2.53%) and Energy (+2.38%) gaining over >2% to lead all eleven p...

US equity markets settled with their first back-to-back gains in two weeks as investors digested Federal Reserve Chair Jerome Powell’s latest remarks - Dow gained +193-points or +0.61%, The broader S&P500 rose +0.66%, with Health Care (up +1.77%) and Financials (+1.74%) rising over >1.7% to lead eight of the eleven primary sectors higher. The Nasdaq added +0.60%. Snap Inc jumped +9.34% after Verge...

US equity markets rebounded, with all three benchmark indices logging their largest daily percentage gains since 10 August despite some more hawkish pronouncements from various Federal Reserve officials - Dow gained +436-points or +1.4%, with 3M Co (up +3.39%) and Nike Inc (up +3.17%) among notable performers. A US$1 move in any one of the 30 components of the Dow equates to a 6.59-point swing. Th...

AUD - buying ~67.32 US cents. The Reserve Bank of Australia (RBA) yesterday (6 September) lifted interest rates for a fifth consecutive month, announcing a +50 basis point hike that lifted the cash rate to 2.35% as widely expected. Morgans Chief Economist Michael Knox forecasts that the cash rate will be 3.85% by calendar year end as the RBA adjusts to manage an economy that is in a resources boom...

AUD - buying ~68.12 US cents. The Reserve Bank of Australia (RBA) announces it latest interest rate decision at 2:30pm AEST, with consensus expectations for a 50 basis point interest rate hike to lift the cash rate to 2.35%. Second quarter Current Account figures and the Ai Group Services Index for August are also slated for release.

US equity markets relinquished earlier session gains to settle with sharp losses heading into the Labor Day long weekend as investors digested an August jobs report and reports of further delays to the re-opening of the Nord Stream 1 pipeline - Dow fell -338-points or -1.07%, erasing an earlier ~370-point gain. The broader S&P500 -1.07%, with Communication Services (down -1.86%) and Real Estate (-...

The Dow and S&P500 snapped a four session losing streak, recovering from sharp opening declines to open September on a firmer footing ahead of tonight’s AEST key August jobs data - Dow rose +146-points or +0.46%, with most of the gains coming in the final 10-minutws of the session. The broader S&P500 added +0.3%, with the more defensive sectors of Health Care (up +1.65%) and Utilities (+1.42%) led...

US equity markets extended declines into a fourth session as selling accelerated in the final ten minutes of the session to cap a tough month - Dow fell -280-points or -0.88%. Walt Disney Co (down -0.31%) is exploring a membership program similar to Amazon Prime, according to a report in The Wall Street Journal, with perks designed to encourage customers to spend more on streaming, resorts and mer...

US equity markets extended declines into a third session as investors eyed some strong economic data that may provide Federal Reserve policymakers even more ammunition to continue its aggressive pace of interest-rate hikes - Dow fell -308-points or -0.96%, The broader S&P500 -1.10%, with Energy (down -3.36%) leading all eleven primary sectors lower. However, as of last night’s AEST close, energy a...

US equity markets logged back-to-back losses as investors continued to digest Federal Reserve Chief Jerome Powell’s address at the Jackson Hole Economic Symposium last Friday (26 August) in which he signalled the central bank would keep hiking rates to tame inflation - Dow fell -184-points or -0.57%, Dow Inc dropped -1.63%, pairing a earlier decline of as much as -3.5%, after analysts at KeyBanc C...

US equity markets fell sharply as investors digested Federal Reserve Chief Jerome Powell’s address at the Jackson Hole Economic Symposium in which he signalled the central bank would keep hiking rates to tame inflation and provided a frank acknowledgment of coming pain to households - Dow slumped -1,008-points or -3.03%, settling with its largest percentage drop since 18 May. 3M Co. stock tumbled...

Benchmark US equity indices logged their best daily percentage gains since 12 August overnight following some better-than-expected economic data, and as investors eye Federal Reserve Chair Jerome Powell’s address at the Jackson Hoe Economic Symposium tonight AEST - Dow rose +323-points or +0.98%, The broader S&P500 gained +1.41%, with Materials (up +2.26%) and Communication Services (+2.06%) risin...