• US equity markets rallied, shrugging off the steepest plunge in payrolls since the Great Depression - Dow rallied +455-points or +1.91%. Boeing Co rose +3.32% with Chief Executive Officer David Calhoun saying that he is confident that the company will start production of grounded 737 MAX jets this month in an interview with Fox Business News. The broader S&P500 gained +1.69%, with Energy sector (up +4.34%) leading all eleven primary sectors higher. 101 S&P500 stocks with market capitalisations above >US$500M have it 52-week highs since the start of May according to data from Bespoke. The technology centric NASDAQ rose+1.58%, logging its fifth consecutive daily rise – the longest such streak since December 2019. Apple Inc rose +2.4% after the company announced it will re-open a handful of US stores this week. All three benchmark indices posted their first weekly advance in three, with the Dow up +2.56%. The S&P500 gained +3.5% for the week and has bounced more than 30% from its corona virus low and is just 13.6% away from its record high. The Nasdaq rose +6% and sits more than 35% off its lows and is now up +1.66% for 2020.
