ADT - ADT Inc.
VAR - Varian Medical Systems, Inc.
NIO - NIO Inc.
FSLY - Fastly, Inc.
MARA - Marathon Patent Group, Inc.
JMIA - Jumia Technologies AG
WKHS - Workhorse Group, Inc.
NKLA - Nikola Corporation
DTSS - Datasea Inc.
CODX - Co-Diagnostics, Inc.
(MT Newswires) -- US stocks rose as negotiations continued between Congressional leaders and officials from the Trump administration over the fifth COVID-19 economic relief program and as technology shares extended their gains, pushing the Nasdaq to a record intraday high.
The Dow Jones Industrial Average advanced by 221.87 points intraday, or 0.8%, to 26,651.71, with Apple (AAPL) firming 3.2% to also prop up the Dow in its fourth straight day of gains.. S&P 500 was higher by 0.8% to 3,295.66. Nasdaq surged by 1.4% to 10,894.97. Apart from technology, healthcare and financials were among the biggest gainers after midday on Monday.
Microsoft (MSFT) said Sunday it is prepared to continue talks to buy TikTok service in the US, Canada, Australia, and New Zealand from Chinese internet company ByteDance. The agreement, if reached, would be a "deal of a decade" and is being viewed positively by investors, according to Wedbush Securities.
President Donald Trump reportedly said last week he was looking at banning TikTok, and US Secretary of State Michael Pompeo signaled the likelihood of widening measures against certain Chinese companies.
China's Shanghai Composite Index jumped by 1.8% due partly to speculation the government would support technology firms amid possible US action against Chinese software companies.
While Republicans and Democrats found common ground in areas such as direct payments, negotiations are continuing over the $600-per-week unemployment boost that expired on Friday.
The US 10-year yield rose by three basis points to 0.57%, with the risk-on sentiment reinforced in the market with West Texas Intermediate futures climbing by almost 2% to $41.08. Natural gas futures advanced by almost 17% as major weather models reportedly trended hotter.
Shares of Varian (VAR) soared by 21% intraday, marking the biggest gainer on the S&P 500 after the company said it agreed to merge with Siemens Healthineers in an all-cash deal valued at $16.4 billion on a fully diluted basis. Zoom Video Communications (ZM) was the top performer on Nasdaq as the company was said to be planning to transition to a partner-only model in China starting Aug. 23, Reuters reported on Monday. Shares of Microsoft (MSFT) led the Dow higher.
In the precious metals market, gold was 0.1% lower at $1,984.20 an ounce, while silver was up 0.6% to $24.35 an ounce, and copper was up 1.5% to $2.91 per pound.
Among energy ETFs, the United States Oil Fund rose 1.7% to $29.55 while the United States Natural Gas Fund surged by 17% to $11.98. Among precious-metal funds, the Market Vectors Gold Miners ETF was down 1.5% to $42.27 and SPDR Gold Shares were down 0.2% to $185.08. The iShares Silver Trust was down 0.4% to $22.56.
https://www.mymillennialinvestments.com/index.php/News/Market-Movers/August-3rd-2020