Morning Report 2 Mar 21: US sharemarkets rose sharply on Monday

Bond yields stabilised. The US House of Representatives passed a US$1.9 trillion coronavirus relief package on Saturday. Johnson & Johnson (+0.5%) said its authorised Covid-19 vaccine will be available in 1-2 days. Apple (+5.4%), Facebook (+2.8%) and Microsoft (+2.0%) shares rebounded. Zoom Video shares jumped 9.7% ahead of its quarterly results. Boeing shares gained 5.8% as United Airlines ordered 25 new 737 MAX aircraft. GameStop shares soared 18.3%. Perrigo's shares climbed 4.7% after it said it will sell its generic drugs business for US$1.6 billion. The Dow Jones index closed up by 603 points or 2.0% after being 735 points higher in the session. The S&P 500 index rose by 2.4% -its best day since June 5, 2020. And the Nasdaq index lifted by 396 points or 3.0%. 

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