Bulls regained their footing, with a strong US jobs report, news that the US and China have scheduled further trade talks this week and soothing comments from Federal Reserve Chair Jerome Powell igniting a sharp rally on US equity markets. Dow up +747-points or +3.29% after climbing as +832-points earlier in the session. Intel Corp gaining +9.7% following an upgrade from Bank of America Merrill Lynch. Boeing Co (up +5.2%) alone contributed ~115-points of the Dow's advance. The broader S&P500 +3.43%, with the Information Technology sector (up +4%) rebounding from a -5.7% tumble in the previous session that marked the sector's worst one-day performance since 18 August, 2011. NASDAQ +4.26%. Netflix Inc rose +6.1%, with Goldman Sachs adding the company to their conviction buy list. The latest rally left Netflix up +25% since its close on Christmas Eve. The other FAANG constituents all rose more than >4%, with Facebook Inc up +4.71%, Amazon Inc +5.01%, Apple Inc +4.27% (rebounding from a -9.9% tumble in the previous session) and Google parent Alphabet Inc +5.38%. China’s commerce ministry said the US and Chinese would hold vice-ministerial level negotiations over trade in Beijing on 7-8 January, marking the first face-to-face negotiations since President Trump’s meeting with China’s leader Xi Jinping in early December. There was no progress on resolving the partial US government shutdown, with acting White House chief of staff Mick Mulvaney observing on Sunday (6 December) that negotiations were back at "square one" For the week, the Dow gained +1.61%, S&P500 +1.86% and Nasdaq +2.34%.
