Morgans Financial Limited

US equity markets settled with modest declines as uncertainty around the prospects of U.S.-Iran negotiations weighed on investor sentiment – Dow dipped -5-points or -0.01%. Apple Inc (up +1.04%) confirmed that senior vice president of hardware engineering John Ternus is succeeding Tim Cook as Chief Executive Officer (CEO), with Mr Cook to assume the role of executive chairman on 1 September. It marks the first CEO transition for Apple since Mr Cook succeeded Steve Jobs at the helm in 2011.