US equity markets advanced after another choppy session although both the Dow and S&P500 logged their fourth straight weekly decline (matching their longest such losing streak since August 2019) – the Dow rose +359 points or +1.30%. Boeing Co rallied +6.8% after the US Federal Aviation Administration said its chief will conduct an evaluation flight of the grounded 737 MAX jet, while European regulators indicated a potential resumption of flights by year end. The broader S&P500 gained +1.60%, with the Information Technology sector (up +2.4%) logging its best session since 9 September and leading ten of the eleven primary sectors higher. Energy (down -0.07%) was the only primary sector to settle in the red. Cruise operators traded strongly (Carnival Corp up +9.7%, Norwegian Cruise Line +13.7% and Royal Caribbean +7.7%), buoyed by an upgrade from a Barclays analyst. NASDAQ +2.30%. Facebook Inc up +2.1%, Amazon.com Inc +2.5%, Apple Inc +3.8%, and Netflix Inc +2.1%. For the week, the Dow lost –1.8% and the S&P500 -0.6% as cyclical stocks underperformed. However, the Nasdaq gained +1.1% for the week, ending a three-week stretch of declines.
