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 (up +2.85%) leading six of the eleven primary sectors higher. Real Estate (down -1.39%) and Materials (-1.23%) both declined over >1% to sit at the foot of the primary sector leaderboard. Lithium miner Albemarle Corp (up +3.01%), spun off from Ethyl Corp. in 1994, touched an all-time high (US$308.24). Verizon Communications Inc (down -1.13%) signalled another weak quarter in terms of new subscribers, due in part to price hikes earlier this year. Chief Executive Officer (CEO) Hans Vestberg, speaking at Goldman Sachs Group Inc.’s media and telecom conference, said that the price increases have caused a “churn bubble” in the current quarter. Intel Corp (down -0.38%) and Walgreens Boots Alliance Inc (+0.09%) were among stocks hitting 52-week lows. Railroad operators Union Pacific Corp (down -3.69%) and CSX Corp (-1.05%) declined amid concern about a potential national railroad strike The Nasdaq gained +0.74%. The small capitalisation Russell 2000 rose +0.38%.
