Morgans AM Wednesday, 8 May 2024

US equity markets settled with modest gains overnight - Dow edged +32-points or +0.08%, recording its fifth consecutive session gain and longest winning streak since 19 December last year (that has lifted the 30-stock index +2.8%). Apple Inc (up +0.38%) hosted a product launch event overnight called ‘Let Loose’, unveiling an iPad Pro powered by its new M4 chip capable of running artificial intelligence (AI) applications locally. Apple called the latest iPad Pro an "outrageously powerful device for artificial intelligence," that with the M4 chip features Apple’s "most powerful Neural Engine ever." Apple said the "Neural Engine in M4 is more powerful than any neural processing unit in any AI PC today."