15/07/2026 09:47

US S&P 500 Index

The S&P 500 closed up 0.4% this morning, helped by a bounce in semiconductors, softer inflation data, and a strong financial sector following earnings beats by the first banks to report. The US banks kicked off earnings season strongly, with Goldman Sachs jumping +9% after comfortably beating expectations, while JPMorgan Chase and Bank of America both gained around +2% following bumper second-quarter results, dragging up the broader financial sector, with UBS rallying by 3.6%. The only bank to disappoint was Citi, which fell 5% on a mixed update. We would expect Macquarie to have a good day – nicely poised to break out of it’s recent trading range to new highs.

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09/07/2026 09:14

US S&P 500 Index

The S&P 500 closed down 0.2% overnight as the Iran situation weighed on risk assets. Still, if you stand back and look at a chart of the S&P500 over the last 3 years, it's simply consolidating before another likely leg higher - there's nothing scary from a technical perspective. However, it feels very different when you read the news! As we know, President Donald Trump declared the Iran ceasefire effectively over at the NATO summit in Turkey, fuelling concerns of renewed Middle East conflict and lifting oil prices. The renewed geopolitical risk has caused investors to understandably recalibrate risk when comments such as “I think it’s over. I don’t want to deal with them anymore. They’re scum”, cross-trading screens.

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20/04/2026 08:40

US S&P 500 Index

Before attributing this week's neck-breaking rally entirely to Middle East optimism, investors should understand what was really happening under the surface, because a significant portion of this move had nothing to do with fundamentals and everything to do with pain. This was, in large part, a short squeeze. Goldman Sachs's basket of the most-shorted US stocks surged more than 13%,  outperforming the S&P 500 by 9% in a single week, its best showing since 2023.

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13/03/2026 09:53

US S&P 500 Index

Wall Street fell overnight as tensions in the Gulf escalated, with tanker attacks and the Strait of Hormuz effectively shut, pushing Brent back toward US$100. While the U.S. and Israel hold clear military dominance, Iran’s hardline regime remains entrenched and appears to be leveraging oil supply disruptions to create economic pressure and force a diplomatic off-ramp.

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12/03/2026 09:12

US S&P 500 Index

The S&P 500 slipped 0.1% overnight, even after the International Energy Agency announced it would release 400 million barrels of oil from reserves, the largest coordinated release on record, to help offset supply disruptions caused by the war. On the economic front, CPI rose a tame 2.4% year-on-year in February, with the report arriving as signs of a cooling labour market continue to emerge.

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10/03/2026 09:14

US S&P 500 Index

The S&P 500 closed up +0.8% this morning, reversing early deep losses with buying evident in the battered software stocks and cash-rich big tech names like Nvidia, Microsoft and Meta, who in some people's minds are regarded as defensives. Even Bitcoin advanced more than 5% as a “risk on” mood took hold when least expected by most investors. The oil price led the recovery, settling back under ~US$90 having been near $US120 in Asia yesterday thanks to Trump's overnight comments:

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09/03/2026 09:38

US S&P 500 Index

A weak jobs report rattled markets on Friday as the widening Middle East conflict pushed oil higher and reignited inflation concerns. The S&P 500 fell 1.3%, capping its worst week since October, with financials hit hard after BlackRock plunged 7.7% following limits on withdrawals from its HPS private credit fund. Chipmakers also slid after Oracle and OpenAI scrapped plans to expand an AI data centre in Texas.

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06/03/2026 09:13

US S&P 500 Index

Wall Street tumbled overnight, with the Dow plunging more than 1,000 points at one stage, grabbing most of the headlines. Stocks resumed their slide on Thursday after a brief one-day reprieve as Middle East tensions flared again, pushing Brent crude above $85 a barrel.

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05/03/2026 09:20

US S&P 500 Index

The S&P 500 closed up 0.8% this morning, in positive territory for the week as if the Middle East conflict didn’t exist - as we often say at MM, markets that can hold firm, or go up, on bad news are very strong. The index received a lift from the tech mega-caps, with Amazon +3.9%, Spotify +2.7%, and Nvidia +1.7% catching the eye, as fears of a U.S. economic slowdown faded.

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02/03/2026 09:13

US S&P 500 Index

The S&P 500 continued to tread water last week but the news from the Middle East will really test the markets short term internal strength as we commence trading in March. The market looks and feels likely to dip lower this morning but trading through war time can be unpredictable.

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