US equity markets rallied, pushing deeper into record territory amid optimism on the trade front - Dow up +267-points or +0.92% (to 29,297.64) to book its fourth straight gain and back-to-back record closing highs. The broader S&P500 +0.84% (to 3,316.81), breaking above >3,300 for the first time, with Information Technology (up +1.40%) leading all eleven primary sectors higher. Gap Inc jumped as much as +9% in the extended session after announcing that it no longer plans to spin off its Old Navy brand, saying the "cost and complexity" of the separation limited the creation of "appropriate value" from the split. Southwest Airlines Co (up +0.49%) said that it removed the Boeing Co.’s (+0.67%) 737 Max flights from its schedule through 6 June. The technology-centric NASDAQ gained +1.06% (to 9,357.14) Microsoft Inc (up +1.83%) hit record highs, while Google-parent Alphabet Inc’s (+0.87%) market capitalisation topped US$1 trillion for the first time (joining fellow technology companies Apple Inc and Microsoft in the exclusive club). The company reports fourth-quarter earnings on 3 February. All three benchmark indices settled at all-time highs.
