Both the S&P500 and Nasdaq advanced to log fresh record closing highs US equity markets - Dow fell -62-points or -0.18% . Procter & Gamble Co (down -2.00%), Walmart Inc (-1.42%) and Coca Cola Co (-1.49%) were notable drags on the index. The broader S&P500 edged +0.18% higher to a record settlement of 4,187.62. Energy (up +0.64%) and Consumer Discretionary (0.62%) both gained over +0.6% to lead seven of the eleven primary sectors higher. Consumer Staples (down -1.16% ) was the worst performing sector, with traders noting concerns around surging commodity prices, with corn futures hitting their highest level in more than seven years and copper prices at the highest level in almost a decade. The Nasdaq gained +0.87% to log its first record closing high since 12 February of 14,138.78 and confirming the end of an 11% correction for the technology-centric index that began after its previous record high close and record its most recent low on 8 March. Apple Inc (up +0.30%) announced that it has “accelerated” its investments in the U.S. – intending to make new investments of US$430B over 5-years, marking a +20% increase on a US$350B commitment made in 2018 - and plans to build a new campus in North Carolina. The company’s “$430 billion in contributions to the US economy include direct spend with American suppliers, data centre investments, capital expenditures in the U.S., and other domestic spend.” The small capitalisation Russell 2000 gained +1.15%.
