Record closing highs for all three benchmark US equity indices to close out the week, with the latest rally lifting the Dow Jones Industrial Average above >28,000 for the first time - Dow rallied +223+-points or +0.80% to 28,004.89 to mark its eleventh record close of 2019. The broader S&P500 +0.77% to 3,120.46, The Healthcare sector (up +2.21%) led ten of the eleven primary sectors higher after the Trump administration released a plan that would force hospitals, group health plans and insurance companies to improve their price transparency and disclose the rates they negotiated. UnitedHealth Group rallied +5.3% and Pfizer Inc +2.0%. Materials (down -0.07%) was the only sector to close in the red. The technology-centric NASDAQ rose +0.73% to 8,540.83. Tesla Inc (up +0.81%) is slated to unveil their electric pick-up truck on Thursday (21 November). For the week, the Dow rose +1.% - its fourth consecutive weekly gain. It has taken the Dow just over four months to rise from 27,000 for the time to 28,000. Apple Inc rose +1.19% to a record high (US$265.78) last on Friday night AEST (15 November) and is the best-performing stock in the Dow since 11 July, when the index first reached 27,000. Apple Inc alone has contributed +434 points to the Dow's rally since 11 July. Apple fell -10% on the second trading day of 2019 following a warning on soft iPhone sales. The stock has since rallied +87%. Intel Corp, J.P. Morgan Chase & Co, United Technologies Corp and Home Depot Inc are among other stocks that have also rallied more than >10% since 11 July. S&P500 rose +0.9% to log its sixth consecutive weekly gain - the longest such streak since 2017 (when the index posted 8 consecutive weekly rises). The Nasdaq gained +0.8%, its seventh straight weekly advance. After downgrading both global equities and credit to 'underweight' back on 8 July, Morgan Stanley's cross-asset strategist has capitulated and returned to a 'neutral' weighting on equities
