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KiplingerJul 06, 2020
Stock Market Today: U.S. Stocks Grab the Baton From China
Stocks shot out of the blocks Monday morning, ignoring continued COVID-19 surges across many states, and instead drawing strength from China.

The state-owned China Securities Journal ran a front-page editorial pumping up the importance of a "healthy bull market" in the wake of the pandemic, leading to a massive 5.7% jump in the Shanghai Composite Index, as well as many U.S.-traded Chinese stocks.

17 Wonderful Work-From-Home Stocks to Buy Also Monday, the U.S. Institute for Supply Management reported the largest jump in its service-sector index, from 45.4 in May to 57.1 in June, signaling that the services industry has flipped from contraction to expansion.

"All told, we view this June ISM reading mostly as a confirmation of the upturn signaled by other indicators, and is a good sign that activity is poised for a strong increase in Q3," Deputy Chief US Economist Jonathan Millar wrote in a Monday note. "Indeed, we anticipate that the ISMs will strengthen to much more robust levels in the coming months."

The tech-heavy Nasdaq gained 2.2% to 10,433, led by mega-caps including Amazon.com (AMZN, 5.8%), Apple (AAPL, 2.7%) and Tesla (TSLA, 13.5%). Now worth more than $250 billion by market value, Tesla hit all-time highs after its most bearish analyst raised his price target to $295 ... still 78% below Monday's closing price.

The Dow finished up 1.8% to 26,287, the S&P 500 closed 1.6% higher to 3,179, and the small-ca


MarketWatchJul 06, 2020
Market Snapshot: Dow climbs over 320 points, Nasdaq hits intraday record as U.S. stocks bolstered by surge in Chinese equities and upbeat ISM data
U.S. stocks are trading higher to kick off the first full week in July, with investors pegging at least part of the bullishness on Wall Street to a powerful rally in China.

MarketWatchJul 06, 2020
NewsWatch: Dow climbs over 400 points, Nasdaq hits record as U.S. stocks follow surge in China markets
U.S. stocks surge near the start of Monday trade to kick off the first full week in July, with investors pegging at least part of the bullishness emanating from Wall Street to a powerful rally in China.

MarketWatch Breaking NewsJul 06, 2020
Dow ends up over 450 points as tech rallies; Nasdaq closes at record high
Dow ends up over 450 points as tech rallies; Nasdaq closes at record high

CNBC FinanceJul 06, 2020
Stock market live Monday: Dow jumps 450, Amazon tops $3,000 to a record, Netflix another all-time high
A conversation about market moving news.

CNBC FinanceJul 06, 2020
Dow jumps 300 points as tech leads market surge, Amazon and Netflix hit records
Stocks jumped on Monday as Wall Street tried to build on the momentum from last week's solid performance.

Yahoo BusinessJul 06, 2020
Tesla Demonstrates Why Short Selling Is So Much More Dangerous Than Going Long
Tesla Inc (NASDAQ: TSLA) shares ripped higher by another 10% on Monday as the Wall Street buying frenzy surrounding electric vehicle stocks continued. Earlier this month, Tesla reported its second-quarter vehicle deliveries were down about 5% from a year ago, yet Tesla's market cap has exploded from around $40 billion a year ago to $245 billion today.Tesla has the single largest short position of any U.S. stock, according to S3 Partners. And while short sellers pound the table on how detached the stock has come from reality, Tesla is a textbook example of how much more dangerous it is for traders to short a stock than go long.Risk-Reward Balance And FeesThe primary reason short selling is more dangerous than buying is potential risk versus potential reward.When an investor buys a stock, risk is capped at 100% of the investment. A stock price can't go lower than $0, and rarely does it even come close. At the same time, potential upside is unlimited, and stocks often gain 150% or even 200% in a matter of a few years. Tesla shares are up 468% in the past 12 months.When a trader shorts a stock, that risk-reward balance is reversed, creating a situation where potential gains are capped at 100% but potential losses are unlimited.On top of that elevated risk level, short sellers must also deal with borrowing fees. For most liquid stocks like Tesla, these fees are relatively small, but they eat into any potential profits and add to any losses.On top of borrow fees, short sellers are requ

MarketWatch MarketPulseJul 06, 2020
Gold futures finish higher, near 1-week high
Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. "Seeing as dealers are keen to take on more risk today, it is likely that gold's positive move is almost exclusively down to the weakness in the dollar," said David Madden, market analyst at CMC Markets UK. The ICE U.S. Dollar Index was down 0.4% in Monday dealings, providing a boost to dollar-denominated gold prices. August gold rose $3.50, or 0.2%, to settle at $1,793.50 an ounce. That was the highest settlement since June 30, when prices ended above $1,800 for the first time since September 2011.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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