·           US economic data was mixed, with payroll gains slowing sharply in July, suggesting the pickup in coronavirus cases is putting the brakes on the job market. Meanwhile, service industries grew in July at the fastest pace since February 2019.

·           Many economists expect last week's expiration of US$600 in enhanced weekly unemployment benefits to lead to a sharp drop-off in household spending and a setback for the US economy's near-term recovery, even if the lapse turns out to be temporary.

·           Cyclical sectors including industrials, materials and financials contributed the most to the market's gains and allowed the Dow industrials (up 1.39%) and S&P 500 (up 0.64%) to outpace the Nasdaq Composite (up 0.52%).

·           Still, the Nasdaq did manage to clinch yet another record close for the year and at one point traded above 11,000 for the first time. The major market indices are having a robust week, up 2.9%, 1.7% and 2.3%, respectively, since Friday's close.

·           Geopolitics remain in play, as Mike Pompeo signalled the American campaign against China's tech firms would escalate beyond TikTok as he promoted a "clean network" initiative. The secretary of state said the US wants to see untrusted Chinese apps removed from app stores, called for companies to limit their apps from phones made by Huawei and for ending the use of Chinese cloud providers.

• Access to over 8714 cross-asset publications and commentary delivering insights from global research and strategy teams.

• Easy-to-use search capabilities, with better and faster text-based searching.

To Subscribe: Click Here | Read Reports Highlights: Click Here