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Stocks rise to record highs thanks to cutting edge technology: markets roll up – Yahoo Finance

(Bloomberg) – U.S. stocks set new highs, with tech stocks leading as investors grabbed work-from-home winners.

Zoom Video Communications Inc. led a rally in companies well positioned for home orders, while Apple Inc. took the S&P 500 index to a new high after the explosive gain in August. The dollar wiped out the losses as data showed the US manufacturing sector advanced last month at the fastest pace since 2018. Treasuries yields fell.

Eurozone inflation turns negative for the first time since 2016

Shares rose higher and higher as investors anticipate an influx of liquidity into the market, with the Federal Reserve’s announcement last week that the central bank will maintain a liquidity policy to fuel trade. Meanwhile, data from Chinese factories on Tuesday signaled growing global demand for exports after the initial shock of the pandemic, a good sign for the global economy.

“The big theme right now is the relentless, record-breaking rally in tech stocks,” said Candice Bangsund, portfolio manager of global asset allocation at Fiera Capital Corp. “The equities landscape is great but there is still, from a macro perspective, a lot of unknowns as to the progression of the virus and, of course, its implications for global growth. “

Oil climbed to around $ 43 a barrel, with rebounding economic activity in the United States and China signaling a sharp recovery in crude consumption.

The Stoxx Europe 600 has collapsed, with some of the worst performing travel and leisure shares.

In Asia, stock market indices were mixed. South Korean stocks rose, while the Australian equity benchmark fell to its lowest since early August.

Here are some key events to watch for this week:

Australia’s GDP is expected on Wednesday, US jobless claims for the week ending August 29 are expected on Thursday, and the US jobs report on Friday is expected to show payrolls continued to rebound in August after the virus hollows.

Here are the main market movements:


The S&P 500 Index rose 0.8% at 4:00 p.m. New York time. The Stoxx Europe 600 index fell 0.3%. The MSCI Asia Pacific index rose 0.5%. The MSCI Emerging Market index rose 1.5%.


The Bloomberg Dollar Spot Index rose less than 0.1%. The euro fell 0.2% to $ 1.1908. The Japanese yen was little changed at 105.95 to the dollar.


The yield on 10-year Treasuries fell three basis points to 0.67%. Germany’s 10-year yield fell two basis points to -0.42%. Britain’s 10-year yield fell two basis points to 0.29%.

Basic products

West Texas Intermediate crude rose 0.6% to $ 42.88 per barrel, copper fell 1.4% to $ 3.019 per pound, while gold rose 0.1% to 1969, $ 56 per ounce.

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