21 July 2022 - Tech Recovery, Inflation | Pacific Edge Update Global markets were mixed overnight, as US markets (S&P 500 Index +0.6%) recovered for a third-day in a row as earnings so far have held up better than many had feared. Technology stocks rose strongly, and the NASDAQ Index rose +1.6% on the back of a better-than-expected result from Netflix sparking a tech recovery. Tesla is also trading slightly higher after hours on its update. Most sectors were higher except for more defensive ones like utilities, healthcare, and consumer staples. Following Apple's suit, Google also said it would pause hiring over the next two weeks to review its headcount and aim to slow hiring over the remainder of the year – joining hiring freezes or layoffs from high-profile tech giants like Tesla and Meta. European Markets (Stoxx 600 Index -0.2%) ended the session lower, reversing earlier gains as the relief rally loses momentum – ahead of t...