US equity markets rebounded sharply to cap a volatile week that saw investors grapple with the latest monetary pronouncements from the Federal Reserve and geopolitical tensions between Russia and Ukraine - Dow rallied +565-points or +1.65%, logging its best single session performance since 6 December after recovering from an earlier session decline of over >350-points. The broader S&P500 gained +2.43%, recovering from an earlier ~0.8% decline to record its best single session performance since June 2020 and settle ~8% below its most recent all-time peak. The Nasdaq rallied +3.13%. Apple Inc jumped +6.98%, recording its best single session percentage gain since July 31, 2020 after posting its largest single quarter in terms of revenue ever after the close of last Thursday’s (27 January) session, with sales growing over >11% to US$123.9B (versus consensus US$119B) despite supply challenges and the lingering effects of the pandemic. The small capitalisation Russell 2000 gained +1.93%. In merger and acquisition (M&A) news, there were reports over the weekend that cloud-computing company Citrix Systems Inc is close to a deal to be taken private, with Elliott Management Corp.’s private-equity arm, Evergreen Coast Capital, and Vista Equity Partners nearing an agreement to pay US$104 per share ~$13B.
