US equity markets rallied strongly overnight following some str0ng corporate earnings releases - Dow rallied +754-points or +2.43%, the largest single session gain since 24 June. However, International Business Machines (IBM) Corp fell -5.25% after the software giant trimmed its 2022 free cash flow guidance after the releasing its second quarter result after close of the previous session. The broader S&P500 gained +2.76%, with Communication Services (up +3.63%), Industrials (+3.58%), Energy (+3.16%), Materials (+3.11%), Consumer Discretionary (+3.09%), Information Technology (+3.08%) and Financials (+3.07%) all gaining over >3% to lead al eleven primary sectors higher. The S&P500 has rebounded ~7.4% from its 16 June closing low. The Nasdaq jumped +3.07%, with Apple Inc (+2.67%) and Google parent Alphabet Inc (+4.29%) rebounding solidly. All three major averages are above their 50-day moving averages for the first time since April. The Russell 2000 soared +3.50%, marking the strongest daily advance for the small capitalisation index since 6 January, 2021.