US equity markets mixed as investors digested the latest pronouncements from the Federal Reserve, although technology stocks continued to outperform - Dow down -282-points or +1.04%, with Boeing Co (down -6.15%), Chevron Corp (-3.89%), American Express Co (-3.89%) and JPMorgan Chase & Co (-4.05%) among the key drags on the index. The broader S&P500 lost -0.53% . MGM Resorts International fell -7.03% despite saying that it is reopening more resorts in Las Vegas over the next few weeks. Best Buy Co Inc rose +0.78% after saying late Tuesday (9 June) that starting Monday (15 June) it will allow a “limited” number of people inside most of its stores, without the need for an appointment. Delta Air Lines Inc fell -1.83% in extended trading (following a -7.4% decline in the regular session) after saying that it is taking measures to remain liquid for the year as the COVID-19 pandemic hits the airline's revenue. In a filing with the Securities and Exchange Commission, the airline said it expects second-quarter revenue to be down 90% from a year ago with capacity down 85%. Delta said it expects to reduce its daily cash outflow to US$40M by the end of June, down from the US$100M a day it was losing back on 31 March, and hopes to reduce that to zero by the end of December. The airline said it hopes to have US$10B in cash by the end of December, having raised more than >US$10B in funds since March through new debt and the Payroll Support Program under the Coronavirus Aid, Relief and Economic Security Act. The NASDAQ logged its eight gain in the past nine session, up +0.65% (to 10,020.35), logging its first ever settlement above >10,000. Apple Inc and Microsoft Corporation became the first companies to have market capitalisations in excess of >US1.5 trillion. Amazon.com Inc (up +1.8%)also hit a record high (US$2,722.35), while Google parent Alphabet Inc (+0.67%) topped the >US1 trillion market capitalisation level for the first time since February. Hertz Global Holdings Inc dropped -39.71% and handed back more than half of its post bankruptcy surge after the car-rental company disclosed that it received a delisting notice from the New York Stock Exchange.
