Technology stocks powered US equity markets to strong gains albeit trading volumes were relatively subdued given the Columbus Day holiday - Dow gained +251-points or +0.88% . The broader S&P500 +1.64%. Nasdaq jumped 2.55%. Gains in Apple Inc (up +6.35%), Microsoft Corp (+2.59%), Google parent Alphabet Inc (+3.56%), Amazon.com Inc (+4.75%) and Facebook Inc (+4.27%) amounted to almost US$360B or almost 60% of the ~US$600B in total market value added to the S&P 500 overnight. The small capitalisation Russell 2000 index underperformed with a +0.7% rise. Apple logged its best session since 31 July ahead of the launch of its first generation of 5G iPhones tonight AEST, likely to be called iPhone 12. The details have been widely leaked and Apple is expected to unveil four models. There is also some speculation about new Apple-branded over-the-ear headphones called AirPods Studio, and perhaps a new product for tracking things with Bluetooth called AirTags. Amazon kicks off its two-day (13 and 14 October) 2020 Prime Day shopping event tonight AEST. It’s usually a summertime event, but was delayed by the coronavirus pandemic
