US equity markets little changed despite an exceptionally strong night for global commodity markets, with 'Big Blue' dragging the Dow Jones Industrial Average into the red - Dow slipped -39-points or -0.16%, with International Business Machines Corp (IBM) tumbling -7.5% - its worst single session drop since 2013 - after delivering an underwhelming gross profit margin in their latest quarterly result. The company announced earnings and revenue numbers that topped analysts' forecasts albeit they were underpinned by one-time boosts from workforce restructuring and changes to the US tax code. IBM along knocked ~80-points off the benchmark index. The broader S&P500 inched +0.08% higher, with a strong gain for the Energy sector (up +1.6%) offset by declines in the more defensive sectors including consumer staples (down -0.9%) and telecommunications (-0.4%). The technology-centric NASDAQ +0.19%.
