US equity markets rebounded strongly, with both the Dow and S&P500 hitting fresh record closing highs - Dow gained +448-points or +1.30% to a record closing high of 34,870.16. FedEx Corp (up +1.08%) hosts a conference call tonight AEST to update investors on its business outlook. The broader S&P500 rose +1.13% to a fresh record closing peak of 4,369.55. Financials (up +2.4%) led ten of the eleven primary sectors higher on Friday night AEST (9 July). The Nasdaq +0.98%. Gains among the big technology names were capped after President Joe Biden signed a new executive order on Friday (9 July) aimed at cracking down on anti-competitive practices in Big Tech, labour and numerous other sectors. The sweeping order, which includes 72 actions and recommendations that involve more than a dozen federal agencies, is intended to reshape the thinking around corporate consolidation and antitrust laws, according to a White House fact sheet. Amazon.com Inc eased -0.32%, while Apple Inc +1.31% Facebook Inc +1.38 and Google-parent Alphabet Inc +0.38%. The small capitalisation Russell 2000 gained +2.17%. For the holiday shortened week, the Dow edged +0.24% higher, S&P500 +0.40% and Nasdaq +0.43%.