Morning Report 7 Jul 20: US sharemarkets climbed on Monday

A revival in China's economy and a record jump in US services sector activity boosted sentiment. Amazon (+5.8%) shares hits US$3,000 for the first time and Netflix (+3.6%) shares hit all-time highs pushing the Nasdaq index to fresh record highs. Tesla shares rose 13.5% after a broker upgrade from JPMorgan. Shares of Uber lifted 6% after agreeing to buy food delivery app Postmates for US$2.65 billion. Dominion Energy (-11%) shares fell after Berkshire Hathaway bought the company's natural gas transmission and storage assets for US$10 billion. The Dow Jones index rose by 459 points or 1.8%. The S&P500 index lifted by 1.6%. The Nasdaq index was higher by 226 points or 2.2%. 

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