The Trump administration, in coordination with the Centers for Disease Control and Prevention, rescinded its international travel warning that has been in place since March, inspiring a late session rally for US equity markets that lifted the technology-centric Nasdaq to yet another record closing high - Dow up +185-points or +0.68%. The broader S&P500 gained +0.64% . Both the Dow and S&P500 extended their recent rally into a fifth straight session. The NASDAQ rose +1.00% (to 11,108.07) to settle above 11,000 for the first time, logging its fourth consecutive record closing high and 32nd of 2020. The Nasdaq Composite also marked its fastest 1,000-point rally to a new round-number milestone in 20 years, taking just 40 trading days to move from 10,000 to 11,0000. It represented the quickest such ascent since the 38-day sessions it took to climb from 3,000 to 4,000 achieved in 1999 during the dot-com boom and bust. Amazon.com Inc rose +0.62%, with regulatory filings recording that founder and Chief Executive Officer (CEO) Jeff Bezos sold 1M shares in the e-commerce giant over the first two working days of August, pocketing US$3.1B. Mr Bezos still owns more than >54M shares worth ~US175B. Facebook Inc jumped +6.49% a day after launching its new short video product Reels for Instagram. Apple Inc +3.49%, Netflix Inc +1.39% and Microsoft Corp +1.6%.
