US equity markets recovered from morning losses to settle with solid gains - Dow gained +377-points or +1.62%, staging an 800-point intra-session turnaround. American Express Co (up +7.83%), JPMorgan Chase & Co (+4.53%), Cisco Systems Inc (+4.26%), Dow Inc (+3.59%) and UnitedHealth Group Inc (+4.54%) were the leading index performers. Nike Inc (up +0.8%) updated investors on store closures after the closing bell, saying that higher conversion rates and strong online sales are offsetting sluggish or non-existent foot traffic and store sales. More than 95% of its stores in China and South Korea are open, with some still operating with reduced hoursThe broader S&P500 rose +1.15%, with Financials (up +2.64%) the clear outperformer and leading ten of the eleven primary sectors higher. Consumer Staples (down -0.31%) was the only sector to close in the red. NASDAQ +0.91%. Both the S&P 500 and Nasdaq recovered from falls of over 1% at the start of the session.
