US equity markets opened August with strong gains as signs of de-escalating tensions in the Middle East dragged crude prices sharply lower ahead of another busy week on the corporate earnings calendar  – Dow rallied +693-points or +1.32% to a fresh record closing high of 53,178.41. Boeing Co jumped +8.03% after the aerospace and defence company cleared an important regulatory hurdle, with the Federal Aviation Administration clearing for commercial service the smallest of the 737 Max planes, the 737 Max 7. The news bodes well for the eventual certification of Boeing’s 737 Max 10, with that aircraft completing final tests last month. ‘Magnificent Seven’ mega capitalisation technology stocks continued to trade strongly, with Microsoft Corp climbing +4.93% to book its best three-day performance in 26 years (+23.46%) and turn positive for the calendar year-to-date (+0.83%) following the company’s second quarter result after the closing bell last Wednesday (29 August). Amazon.com Inc rose +4.58% to a fresh record closing high of US$284.02, with the company’s market capitalisation climbing above >US$3 trillion for the first time.