US equity markets extended their July rebound, with the benchmark indices logging their biggest monthly gains since 2020 - Dow rose +316-points or +0.97%, The broader S&P500 +1.42%, with Energy (up +4.51%) and Consumer Discretionary (+4.27%) rose over >4% to lead nine of the eleven primary sectors higher on Friday (29 July). Consumer Staples (down -0.72%) and Health Care (-0.35%) were the only primary sectors to settle in the red. The Nasdaq +1.88%. Amazon.com Inc jumped +10.36% after forecasting higher third quarter revenue amid higher fees from its Prime loyalty programmes after the close of the previous session. Apple Inc rose +3.28% after delivering fiscal third quarter sales and earnings per share (US$1.20 versus consensus US$1.16) after the close of last Thursday’s (28 July) session that were a touch ahead of Wall Street estimates, underpinned by strength in iPhone sales. Intel Corp dropped -8.56% after the chipmaker’s second quarter earnings undershot consensus forecasts by a wide margin and the company cut its full year outlook after the closing bell of the previous session. Listed chipmaking peer Advanced Micro Devices gained +3.05% to lift its market capitalisation (US$153B) above Intel Corp (US$148B) The small capitalisation Russell 2000 rose +0.65%.
