US equity markets rebounded from last Friday’s (18 June) sharp sell-off and bond markets softened - Dow rallied +587-points or +1.76%, recording its best single session percentage climb since 5 March and rebounding from its worst weekly performance since the week ended 30 October, 2020 last week. Boeing Co gained +3.34%, while the Banks (including JPMorgan Chase & Co +1.70% and Goldman Sachs Group Inc +2.50%) also rebounded. The broader S&P500 gained +1.4%, recording its best single session percentage rise since 14 May to move back to within 1% of its record closing high. Energy (up +4.29%) leading all eleven primary sectors higher. Financials (up +2.35%), Industrials (+2.18%) and Materials (+2.07%) all rebounded over >2%. American Airlines Group Inc (up +0.72%) aid it was trimming some flights (amounting to about 1% of planned flying in the first half of July) to alleviate potential strains on its operations. The Nasdaq +0.79% to 14,141.48 and notch its third highest settlement on record. Microsoft Corp gained +1.23% and hit a record intra-day high (US$263.52). Netflix Inc fell -0.75% despite detailing a partnership with Steven Spielberg’s film and TV studio Amblin Partners for multiple new films for the streaming platform. The small capitalisation Russell 2000 gained +2.16%.
