US equity markets rallied, with the S&P500 climbing back above the >4,000 level - Dow gained +323-points or +1.00%. Intel Corp jumped +7.61% following an investor presentation that provided more detail about the company’s plans to reverse a slide in manufacturing and market share of data-centre chips. The broader S&P500 climbed +1.42% to 4,027.81, marking the indice’s highest settlement since 6 March (which was only days before the collapse of Silicon Valley Bank (SVB) put a spotlight on risks in the U.S. banking system after the Federal Reserve’s yearlong stretch of quick rate hikes). Real Estate (up +2.31%) and Information Technology (+2.09%) both gained over >2% to lead all eleven primary sectors higher. Tesla Inc rose +2.48% and has added more than US$200B to its market capitalisation in the first three months of the year alongside what’s likely to be the best start to a year for the stock in its history. The electric-vehicle manufacturer as soared +54% so far in 2023, putting it on track to log its largest quarterly percentage gain since the fourth quarter of 2020, according to Dow Jones Market Data. The Nasdaq rallied +1.79%. Amazon.com Inc rose +3.10%, Meta Platforms Inc (+2.33%) and Netflix Inc (+2.63%) both rose over >2%. Apple Inc (up +1.98%) announced that its annual Worldwide Developers Conference (WWDC) will begin on 5 June and run through 9 June. WWDC is Apple’s biggest conference of the year and typically sees the company unveil new products and features, and provide a preview of where the company is heading. The small capitalisation Russell 2000 gained +1.08%.
