Morgans AM - Tuesday, 12 August 2025

US equity markets retreated ahead of key inflation figures tonight AEST, shrugging off widely anticipated news that President Trump had signed an executive order that extended the deadline for tariffs on Chinese goods by another 90-days into early November - Dow fell -201-points or -0.45%, with Salesforce.com (down -3.26%) and International Business Machines (IBM) Corp (-2.46%) the biggest decliners in the 30-stock index. Apple Inc (down -0.83%) snapped a three-session winning streak that had lifted the stock ~12.5% over that timeframe. The company’s next major iPhone product launch date is rumoured to be 9 September.