US equity markets retreated, relinquishing earlier gains that saw both the S&P500 and Nasdaq touch fresh record intra-day highs as investors digested the latest inflation data and the start of the second-quarter corporate earnings season - Dow down -107-points or -0.31%. Boeing Co fell 4.2% after the Federal Aviation Administration said late on Monday (12 July) that some undelivered 787 Dreamliners have a new manufacturing quality issue. The broader S&P500 lost -0.35% after touching a fresh record intra-day peak (4,392.37). Real Estate (down -1.32%), Consumer Discretionary (-1.18%) and Financials (-1.06%) all fell over >1% to lead ten of the eleven primary sectors lower. Information Technology (up +0.44%) was the only primary sector to advance. The technology-centric Nasdaq fell -0.38%, touching a record intra-day high (14,803.68) earlier in the session. Bloomberg reported that Apple Inc (up +0.79%) and Goldman Sachs are partnering to launch a buy now, pay later (BNPL) service through Apple Pay called Apple Pay Later. The report prompted a -10.45% for Affirm Holdings Inc. The small capitalisation Russell 2000 dropped -1.88%.
