US equity markets rallied on Friday (9 September) to secure their first weekly advance in four weeks, shrugging off some fresh hawkish commentary from Federal Reserve officials and with traders eyeing inflation figures later this week - Dow gained +377-points or +1.19%, The broader S&P500 rose +1.53%, with Communication Services (up +2.53%) and Energy (+2.38%) gaining over >2% to lead all eleven primary sectors higher. Warren Buffett’s investment vehicle Berkshire Hathaway boosted its stake in Occidental Petroleum (up +1.63% in extended trading after +1.75% rise in the regular session) to 26.8% (up from 20.2% as at 8 August) according to a regulatory filing late on Friday (9 September after getting the go-ahead last month from the Federal Energy Regulatory Commission to buy as much as half of the oil giant. The Nasdaq rallied +2.11%. The small capitalisation Russell 2000 gained +1.95%.
