US equity markets logged their fourth gain in the past five sessions - Dow up +369-points or +1.52%, largely recouping the previous session’s -390-point drop and briefly traded above its 100-day moving average (that has acted as a resistance level). The broader S&P500 gained +1.67% to 2,971.61, its highest close since 6 March. Energy (up +3.82%) led all eleven primary sectors higher, with Communication Services (+2.70%), Financials (+2.22%) and Information Technology (+2.12%) all gaining over >2%. The NASDAQ rallied +2.08% and sits just 4.5% away from its all-time record high struck on 19 February. Amazon.com Inc (up 1.98%) hit a record all time high (US$2,500.01). Facebook Inc rose +6.04% to settle at a record high ($229.97) a day after unveiling a new e-commerce platform called Facebook Shops. For perspective, the market capitalisation of the FANGMAN group (Facebook, Amazon, Netflix Inc, Google-parent Alphabet, Microsoft Corp, Apple Inc and NVIDIA Corp) hit an all-time high of US$6.1 trillion, equal to the combined gross domestic product (GDP) of Germany and Italy. The small capitalisation Russell 2000 index outperformed with a +3.00% gain.
