News of fresh stimulus measures in China lifted US equity markets , while a fresh rally for technology stocks also helped offset some lacklustre quarterly results from major banks - Dow up +156-points or +0.65% The broader S&P500 +1.07% and closed above >2,600, with Healthcare (up +1.74%), Communication Services (+1.74%) and Information Technology (+1.46%). The technology-centric NASDAQ rose +1.71% and climbed back above >7,000, with Netflix Inc gaining +6.52% after the video-streaming company said it would raise U.S. prices by 13% to 18%, the biggest rise since launching its streaming service 12 years ago. The index also settled above its 50-day moving average (6,996.25) for the first time since 3 October last year. The Nasdaq still sits ~13% below its 29 August 2018 high at 8,109.69. An announcement from the People’s Bank of China that it would increase efforts to spur their economy by improving credit availability for smaller companies and a pledge by the Chinese Ministry of Finance to cut taxes and ramp up infrastructure spending helped to buoy market sentiment. On the US-China trade front, President Trump predicted that Washington would reach a deal with China to end their tit-for-tat trade war, saying Beijing wants to negotiate and that talks are going well.
