US markets settled with modest losses ahead of tonight’s AEST jobs report for May - Dow eked out a fourth straight daily gain, settling +12-points or +0.05% higher. Boeing Co (up +6.43%) did much of the heavy lifting. The broader S&P500 lost -0.34% . American Airlines Group (AAL) soared +41.1% to its highest close since 10 March amid record volume (394.4M shares versus average daily volume of ~72M) after the airline indicated it was boosting capacity. AAL said that it expects to fly in June ~55% of the domestic capacity that was flown during July 2019, as load factors improved 55% at the end of May from 15% for the month of April. The International Air Transport Association (IATA) on Wednesday (3 June) said daily flights increased by 30% between 21 April 21 and 27 May. The IATA said the improvement in the data suggests “the industry has seen the bottom of the crisis, provided there is no recurrence.” NASDAQ dropped -0.69% to leave the technology index ~2.1% below in all-time closing high struck on 19 February. The Nasdaq 100 overnight became the first U.S. equity index to reclaim its intra-day record high (scaling an intra-session peak of 9,741.97, usurping its previous record intraday high struck on 19 February), before settling -0.77% lower. The NYSE FANG+TM Index, which includes Facebook Inc (down -1.68%), Apple Inc (-0.86%), Amazon.com Inc (-0.72%), Netflix Inc (-1.81%) and Alphabet Inc (-1.68%), also hit a record high during the morning session.
