US equity markets edged higher and Treasury yields declined as investors digested the latest inflation figures - Dow eased -70-points or -0.20%, The broader S&P500 +0.12%, with Utilities (up +1.21%) and Consumer Discretionary (+0.90%) leading seven of the eleven primary sectors higher. Real Estate (down -1.03%) and Energy (-0.76%) sat at the foot of the primary sector leaderboard overnight. Citigroup Inc. gained +1.66% after the major bank said it would reorganize into a flatter structure, with the heads of its five major business units reporting directly to Chief Executive Jane Fraser. American Airlines Group Inc dropped -5.67% after cutting its third-quarter earnings outlook, citing higher fuel prices and costs associated with a new labour agreement. The company said it now expects adjusted earnings per share of ~US$0.20c to US$0.30c, down from previous guidance of ~US$0.85c to US$0.95c and versus current consensus of US$0.69c. Delta Air Lines Inc fell -2.80% and United Airlines Holdings Inc -3.80%.
