Morgans AM - Tuesday, 23 June, 2026

US equity markets mixed after resuming trading following the holiday long weekend, with mega-capitalisation technology stocks a key drag – Dow added +148-points or +0.29%. Caterpillar Inc (up +3.7%) was the leading performer in the 30-stock index for a second consecutive session. [Unlike most major stock indexes, which weigh components based on market capitalization (or a modified version of it), the Dow weighs its 30 stocks by share price. Caterpillar is the Dow’s second-highest priced stock, only behind Goldman Sachs Group Inc (+0.89%)]. Amazon.com Inc (down -4.75%) and Nike Inc (-4.45%) fell over >4%, while Microsoft Corp (-3.18%) and McDonald’s Corp (-3.05%) lost over >3%. International Business Machines (IBM) Corp rose ~4% in extended trading (after rising +1.25% in the regular session) after President Trump signed executive orders aimed at accelerating quantum research, laying the groundwork for federal agencies to adopt the technology and strengthen US defences against cyberattacks.