Morning Report 5 Aug 20: US sharemarkets rose on Tuesday

Investors closely monitored efforts in Washington to negotiate a new virus relief package. Brent crude oil prices rose to the highest level since March 6, supporting shares of Exxon Mobil (+2.9%) and Chevron (+2%). American International Group shares tumbled 7.5% after posting a US$7.9 billion loss. Ralph Lauren shares dropped 4.4% after quarterly revenue plunged due to a slowdown in global demand for luxury goods. Shares of Microsoft -which is looking to buy short-video app TikTok's US operations -fell 1.5%. Netflix shares gained 2.2%. The Dow Jones index rose by 164 points or 0.6%. The S&P500 index lifted 0.4% and the Nasdaq index lifted 38 points or 0.4% to a record close. 

 

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