10 September 2020: US Tech Turns | Westpac Upgrade to BUY Global markets rallied overnight (S&P 500 Index +2%) as all three major Wall Street indices were  higher and snapped a three-session losing streak as investors jumped back in to take advantage of the pullback in technology-related stocks, a day after the Nasdaq confirmed correction territory (-10%). The Nasdaq technology index rose +2.7%, with Tesla shares rebounding +10.9% after suffering their biggest one-day percentage drop in the prior session. Apple, Microsoft and Amazon - the top three U.S. public companies by market capitalization - each rose by at least 3% - partially offsetting previous days losses. As with the sell-off, there was no clear catalyst for the change in sentiment towards the technology sector.  Despite the volatility, our market outlook remains bullish on equity markets medium term as global macro economic data and fiscal policy are expected to rem...