ASX set to rise as Wall Street jumps; Amazon shares hit record high

US stocks rose sharply on Monday as a rebound in US services industry activity in June and expectations of a revival in China's economy boosted optimism, helping investors look past a surge in new coronavirus cases in the United States.

Investors also bet on an improving Chinese economy and its impact on the global growth as the yuan led commodity currencies higher against the dollar. Earlier, Chinese stocks jumped more than 5 per cent.Unofficially, the Dow Jones Industrial Average rose 459.47 points, or 1.78 per cent, to 26,286.83, the S&P 500 gained 49.66 points, or 1.59 per cent, to 3,179.67 and the Nasdaq Composite added 226.02 points, or 2.21 per cent, to 10,433.65.

A slew of upbeat US data recently, including a record rise in monthly payrolls, has powered the Nasdaq to all-time highs and has driven the S&P 500 up roughly 44 per cent from its March bottom.

Good to see the Fed pumping Bezos’ wealth while main street deals with 40m unemployed. Capitalist markets producing extreme wealth inequality should be the focus of your articles.

You have 1 article on Trump and pence talking shit lying about coronavirus and another article following the us markets claiming asx set to rise on news out of the us. You on drugs?

The Market is not the economy

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