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Apple and tech stocks drive US markets to record highs


4 pm: Nasdaq, S&P 500 hit all-time records

The S&P 500 gained 1% to 3,431 as the tech-heavy Nasdaq finished up 68 points, or 0.6%, to 11,379. Both hit record highs in Monday's session. The Dow Jones Industrial Average closed up 378 points, or 1.4%, to 28,308.

Leading the way were big tech players, including Apple Inc (NASDAQ:AAPL), which saw its stock increase 1.2% to $503.43.

2.50 pm: US stocks up

Wall Street shares were consolidating gains in afternoon trade in New York.

The Dow Jones Industrial Average added over 241 points at 28,171. The broader S&P 500 gained over 21 points at 3,418. The Nasdaq exchange added 29 points at 11,341.

The gold price lagged though on the day, It was down 0.64% to stand at US$1,934 an ounce.

1:10 pm: Wall Street shares still green

US stocks were still going strong just after lunch, with Apple shares still a focus as the stock moved towards new highs.

Shares in the tech giant reached as high as US$515.14 in early deals, before easing back to the US$505 mark. It comes ahead of a 4:1 stock split and after Morgan Stanley lifted its target price to US$520 from US$431.

The Dow Jones Industrial Average added 257 points at 28,188. The S&P 500 added 26 at 3,423. The Nasdaq added nearly 71 points to 11,382

Noon ET: FTSE 100 closes higher

FTSE 100 index raced Monday to a positive close, joining global indices in heading higher.

Britain's index of leading shares closed up over 102 points, or 1.71% at 6,104.

Midcap FTSE 250 also went higher, adding over 107 points to close at 17,685.

"The optimism is being driven by a report that President Trump is looking to fast-track the approval of a drug that has the potential to be a vaccine for Covid-19," noted analyst David Madden, at CMC Markets.

"AstraZeneca and Oxford University are working on the drug in question, and Mr Trump is apparently keen to get the regulatory approval sped up. The move could come in October, one month ahead of the US presidential election."

US and Canada 4:20 pm/11:20 am EST

Wall Street stocks were a sea of green in early deals. The Dow Jones Industrial Average gained over 280 points at 28,210. The S&P 500 added over 22 at 3,410. The tech heavy Nasdaq exchange was up over 33 at 11,345. In Toronto, the S&P/TSX index advanced nearly 88 points at 16,605.

3:30 pm/10:30 am EST: Proactive North America headlines:

Thoughtful Brands Inc (CSE:TBI) (FWB:1WZ1:GR) (OTCQB:PEMTF says its subsidiary Ecommerce Tech has acquired a key e-Commerce software platform

Nomad Royalty Company (TSE:NSR) (OTCQX:NSRXF) to buy Coral Gold Resources for US$45.8M

AgraFlora Organics International Inc (CSE:AGRA) (OCTMKTS:AGFAF) expects first harvest at its Delta greenhouse in fourth quarter 2020

GlobeX Data Ltd (OTCQB:SWISF) (CSE:SWIS) says SekurSafe solution selected by RE/MAX marketplace for secure email and data management

Biocept Inc (NASDAQ:BIOC) appoints Dr Michael Dugan as chief medical officer and medical director

Pacific Empire Minerals Corp (CVE:PEMC) (OTCQB:PEMSF) mobilizes geophysical crew to Jean Marie project

Benchmark Metals (CVE:BNCH) says increased financing allows it to lift drill program to 100,000 metres and begin planning feasibility study

Killi Ltd (CVE:MYID) (OTCMKTS:MYIDF) says CEO featured in 'Dark Reading' magazine discussing using data for good to control coronavirus pandemic

Humanigen Inc (OTCPINK:HGEN) taps drug development expert Edward Jordan for chief commercial officer role ahead of lenzilumab launch

Medexus Inc (CVE:MDP) (OTCQX:PDDPF) says its joint-disease drug added to public drug plan in Quebec and will enjoy insurance coverage

9:43 am: Wall Street starts higher

As expected, the main US indices kicked off Mondays session in the green amid optimism over a potential coronavirus vaccine.

Shortly after the opening bell, the Dow Jones Industrial Average was up 0.61% at 28,101 while the S&P 500 climbed 0.76% to 3,423 and the Nasdaq rose 1.18% to 11,445.

The bullish sentiment has put the Dow around 5% off its all-time high reached in February, while the other two indices both hit intraday highs at the open. Monday is also the day of record for Apple Incs (NASDAQ:AAPL) four-to-one stock split.

7:40am: Wall Street heads for higher open

US indices are expected to add to Fridays gains this afternoon.

The Dow Jones industrial average is tipped to open at around 28,176, up 246 points.

The S&P 500 is expected to start at 3,424, up 27 points while the NASDAQ Composite is seen starting at 11,670, up 358 points.

With the coronavirus (COVID-19) very much in the news after President Trumps latest blast at the US Food and Drug Administration (FDA), which he effectively accused of allowing people to die as part of a bizarre campaign to sabotage his election campaign, the Johns Hopkins Coronavirus Resource Center reported that the USA reported 34,600 new COVID-19 cases yesterday, down 17.8% on the 42,000 new cases reported a week earlier.

“Over the past week, confirmed new cases have fallen by 16%. The seven-day average number of new cases is falling steadily and now stands at 42.6K, down 37% from the July 22 peak, 67.3K,”observed Ian Shepherdson, the chief economist of Pantheon Macroeconomics.

“Some of tRead More – Source