Morning Report 13 Oct 20: US sharemarkets climbed on Monday

There was a rally in some of the world's largest technology companies. Shares of Amazon.com (+4.8%) surged ahead of its Prime Day shopping event on Tuesday. Apple (+6.4%) is expected to unveil its first 5G iPhone also on Tuesday. Shares of Twitter (+5.1%) rallied on an upgrade from Deutsche Bank, which boosted Facebook (+4.3%) and Alphabet (+3.6%) shares as they also derive their revenue from digital advertising. But prospects for an end to the stalemate over new stimulus faded with members of the US House of Representatives told not to expect any action this week. The Dow Jones index ended higher by 250 points or 0.9%. The S&P500 index lifted 1.6% and the Nasdaq index gained 296 points or 2.6%. 

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