Morgans AM

Morgans AM: Thursday 2 July 2020


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US stocks settled mostly higher with market sentiment getting a lift from positive coronavirus vaccine news and strong U.S economic data. The S&P 500 climbed +0.50%, after rising 20% over the past three months for its best quarterly performance since 1998. The tech-heavy Nasdaq Composite posted a record closing high, rising +0.95%, to 10,154. Shares of Amazon and Netflix — companies that benefit from people staying at home — led the way, rising 4.4% and 6.7%, respectively. The Dow Jones Industrial Average lagged, falling 77.91 points, or -0.3%, to 25,734.97. Shares of Pfizer rose 4.3% after the company reported promising results from a coronavirus vaccine candidate. The results were released online but have not been reviewed by a medical journal yet. The company also said that, if the vaccine gets regulatory approval, it expects to make up to 100 million doses by year-end and “potentially” more than 1.2 billion by the end of 2021.
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Morgans AMBy Morgans Financial Limited


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