US equity markets retreated a day after both the S&P500 and Nasdaq set fresh records - Dow fell -85-points or -0.31%. The broader S&P500 lost -0.44% after logging a fresh record intra-day high (3,399.54) earlier in the session. Real Estate (down -2.01%) was the worst performing sector, with all eleven primary sectors closing in the red. Southwest Airlines Co edged +0.32% higher after reporting a “modest” uptick in leisure demand this month as travellers booked last minute trips despite the pandemic. The technology-centric NASDAQ shed -0.55%. Apple Inc rose +0.13%, settling well off earlier highs (US$468.65. up +1.26%) that saw if become the first US company to attain a market capitalisation of US$2 trillion. Apple first reached a US$1 trillion market capitalisation on 2 August, 2018. On 31 July, Apple passed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company. The small-capitalisation Russell 2000 index closed +0.2% higher, extending a streak of outperformance that has it up +6.7% in the past month. In broader stock moves, recreational vehicle (RV) maker Winnebago Industries Inc said that its board of directors has approved a 9% dividend increase to US$0.12c per share (payable on 30 September to shareholders of record as of 16 September). Winnebago in June posted quarterly earnings above Wall Street expectations thanks to a surge in RV sales amid the pandemic.
