Morgans AM - Tuesday, 1 July 2025

US equity markets advanced, pushing further into record territory to cap another strong month and impressive second quarter rebound - Dow rose +276-points or +0.63% to 44,094.77. Goldman Sachs Group Inc gained +2.45% to US$707.75 to be the leading component in the 30-stock index overnight and logging its third record closing high, with analysts at Citigroup noting the investment bank emerged as “the big winner” in last Friday’s (27 June) latest annual bank stress tests conducted by the Federal Reserve due to its ”much better-than-expected” improvement in stress capital buffers. Apple Inc +2.03% following a report from Bloomberg News that the company is considering using technology from Open AI or Anthropic to power voice assistant Siri.