US equity markets advanced however there were some steep earnings release-related declines after the closing bell - Dow up +224-points or +0.63% . The broader S&P500 gained +0.94% with Communication Services (up +3.09%) leading ten of the eleven primary sectors higher. Consumer Discretionary (down -0.53%) was the only primary sector to close in the red. PayPal Inc slumped -24.6% after the payments company reported EPS (US$1.11 versus consensus US$1.12) and guidance (expects to earn between US$4.60 and US$4.75 in fiscal 2022, below current forecasts for US$5.25) that fell short of Wall Street estimates. The Nasdaq added +0.50%, with Google parent Alphabet Inc jumping +7.3% following its strong fourth quarter result after the closing bell of the previous session that also saw the company announce a 20-for-1 stock split. Advanced Micro Devices Inc rose +5.1% after the chipmaker also posted a strong fourth quarter result after the close of Tuesday’s (1 February). However, the small capitalisation Russell 2000 fell -1.03%.