Technology stocks again led the latest rally for US equity markets - Dow up +177-points or +0.68% The broader S&P500 gained +0.78% . United Airlines Holdings Inc slipped -0.1% after saying it would send furlough or layoff warnings to 36,000 employees due to the coronavirus impact on demand for air travel. The technology-centric NASDAQ gained +1.44% (to 10,492.50) to log its 25th record closing high this year. Apple Inc rose +2.3% and hit a fresh record high (US$381.50), buoyed by Deutsche Bank hiking their target price . Amazon.com Inc (+2.70%), Facebook Inc (+1.13%), Microsoft Corp (+2.20%) and Netflix Inc (+1.95%) also all touched record highs. Nvidia Corp rose +3.5% and surpassed Intel Corp (%) as the largest U.S. chip maker by market capitalisation for the first time. Nvidia now has a market capitalisation of ~US$251B versus Intel at ~US$248B. In broader stock moves, Alibaba Group Holding Ltd rallied +9% following a report that the Chinese e-commerce giant plans an initial public offering for Ant Financial Services Group. Alcoa Corp fell -1.25% after the aluminium products maker provided preliminary second-quarter results that were above analyst expectations, citing productivity gains and cost savings amid challenges resulting from the COVID-19 pandemic. Taylor Morrison Home Corp jumped +16.9% after the homebuilder advised that June was its strongest sales month ever.
