US equity markets staged a huge intrasession rebound to settle sharply higher despite another hit inflation report - Dow soared +828-points or +2.83% to 30,038.72, logging the largest one day percentage gain since 9 November, 2020 after recovering from an earlier decline of as much as -550-points. It marked the first time on record that the Dow has risen at least 800 points in the same trading day that it was down at least 500 points at its low, according to Dow Jones Market Data. Goldman Sachs and JPMorgan rose +3.98% and +5.56%, respectively. The broader S&P500 +2.60%, with Financials (up +4.14%) and Energy (+4.08%) both rising over >4% to lead all eleven primary sectors higher. The index recorded its widest trading range since March 2020 and fifth largest intra-day reversal in its history. The Nasdaq +2.23%. Netflix Inc gained +5.27% after the streaming company said it will charge US$6.99 for its ad-supported subscriptions. Taiwan Semiconductor Manufacturing Co injected some much needed optimism into the chip sector after the company not only reported that net income nearly doubled from a year ago, as revenue surged nearly 50%, but also forecast a “flattish” outlook that still exceeded the Street consensus at the time. The news lifted the PHLX Semiconductor Index SPX +2.60%, with Advanced Micro Devices Inc up +1.88%, Intel Corp +4.30%, and Nvidia Corp +4.00%. The small capitalisation Russell 2000 rallied +2.41%.