US equity markets stormed back to post solid gains following the release of the September jobs report that quelled recession fears without downgrading the odds of further monetary policy easing from the Federal Reserve - Dow up +373-points or +1.42% , recovering from an earlier -335-point/-1.3% slide. The broader S&P500 rallied +1.42%, with Financials (up +1.93%) and Information Technology (+1.71%) leading all eleven primary sectors into positive territory. The S&P 500 also moved back above both its 100-day (2,927.04) and 5-day (2,942.08) moving averages. The NASDAQ +1.4%. Apple Inc rose +2.8%, buoyed by a report in the Nikkei Asian Review that the company has asked suppliers to increase production of its iPhone 11 models by up to 8M units, or ~10%. Sources cited by the Nikkei Asian Review said that the recent surge in iPhone orders is concentrated in the cheapest iPhone 11 model and the iPhone 11 Pro model, while Apple has slightly revised down orders for its top range model, the iPhone 11 Pro Max, which has a starting price of US$1,099. For the week, both the Dow (down --0.92%) and S&P500 (-0.33%) logged their third consecutive weekly decline, while the Nasdaq posted its first weekly rise (+0.54%) in the past three.
