Nasdaq grabs new record, S&P turns positive for 2020

The Nasdaq Composite resumed its record run, hitting its 28th all-time high of the year, helped by large-cap tech and improving investor sentiment as New York City entered Phase 4 of its reopening which allowed outdoor entertainment venues, including zoos and sports stadiums without fans, to unlock their doors.

The tech-heavy Nasdaq, rose 2.51 percent, aided by Amazon which snapped a 5-day losing streak.

Ticker	Security	Last	Change	Change %
I:COMP	NASDAQ COMPOSITE INDEX	15410.560179	-302.19	-1.92%
AMZN	AMAZON.COM INC.	170.75	-5.84	-3.31%

The S&P 500 climbed 0.84 percent to claw back into positive territory for the year and the Dow Jones Industrial Average was up a modest 0.03 percent.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	37812.43	-648.49	-1.69%
SP500	S&P 500	4997.8	-73.83	-1.46%

Additionally, dealmaking helped sentiment, as the biggest oil deal since the onset of the COVID-19 pandemic was reached.

Dow component Chevron Corp. agreed to buy Noble Energy Inc. for $5 billion in an all-stock deal. The transaction, which pays Noble shareholders 0.1191 Chevron shares for each Noble share owned, is valued at $13 billion when including debt.

In other oil patch news, Halliburton Co. posted its third straight quarterly loss and booked a $2.1 billion charge as the novel coronavirus made for difficult business conditions in North America.

Ticker	Security	Last	Change	Change %
CVX	CHEVRON CORP.	163.09	-0.60	-0.36%
HAL	HALLIBURTON CO.	38.20	-0.54	-1.38%
NBL	n.a.	n.a.	n.a.	n.a.

Looking at stocks, Pfizer Inc. and BioNTech SE's experimental COVID-19 vaccine received positive results from a Phase 1/2 study in Germany. Additionally, the companies agreed to supply 30 million doses of the experimental vaccine to Britain, the country’s business industry said on Monday. Financial terms of the deal were not disclosed.

An early-stage clinical trial of AstraZeneca's experimental COVID-19 vaccine conducted by Oxford University found a four-fold increase in antibodies in 95 percent of participants one month after they received an injection.

Ticker	Security	Last	Change	Change %
PFE	PFIZER INC.	25.96	-0.29	-1.12%
BNTX	BIONTECH SE	87.77	-0.32	-0.36%
AZN	ASTRAZENECA PLC	75.45	+4.25	+5.98%

Airlines were under pressure after Transportation Security Administration data released Monday showed the number of travelers who passed through airport screenings last week fell more than 4 percent to 4.65 million, making for the first decline since April.

Ticker	Security	Last	Change	Change %
AAL	AMERICAN AIRLINES GROUP INC.	13.69	-0.23	-1.65%
UAL	UNITED AIRLINES HOLDINGS INC.	51.47	-1.20	-2.28%
DAL	DELTA AIR LINES INC.	47.41	-0.53	-1.11%

Elsewhere, Walt Disney Co. reduced ad spending on Facebook as hundreds of other companies have boycotted the social media platform due to its handling of hate speech and divisive content, The Wall Street Journal reported, citing people familiar with the matter. Disney was the largest ad buyer on the social media platform during the first half of the year, spending an estimated $210 million, the report said.

Electric-truck maker Nikola Corp. plans to issue as many as 23.9 million shares through warrants and said existing shareholders may sell up to 53.39 million shares, according to a Securities Exchange and Commission filing.

Ticker	Security	Last	Change	Change %
DIS	THE WALT DISNEY CO.	110.89	-3.06	-2.69%
FB	n.a.	n.a.	n.a.	n.a.
NKLA	NIKOLA CORP.	0.60	-0.02	-2.82%

West Texas Intermediate crude oil gained 22 cents to $40.81 per barrel while gold was up $7.60 at $1,815.90 an ounce.

U.S. Treasurys gained, pushing the yield on the 10-year note down to 0.619 percent.

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Overseas markets were mixed with Germany’s DAX trading higher by 0.99, France’s CAC up 0.47 percent and Britain’s FTSE down 0.46 percent.

In Asia, China’s Shanghai Composite surged 3.11 percent and Japan’s Nikkei edged up 0.09 percent while Hong Kong’s Hang Seng slipped 0.12 percent.