US equity markets advanced, led by technology stocks despite longer dated Treasury yields climbing to levels not seen in over a decade - Dow eased -37-points or -0.11%, paring an earlier slide of as much as -252-points. Johnson & Johnson (down -2.98%) and Nike Inc (-1.86%) were the worst performing Dow components overnight. The broader S&P500 rose +0.69%, with Information Technology (up +2.26%) leading five of the eleven primary sectors higher. The more defensive Real Estate (down -0.88%) and Consumer Staples (-0.64%) sat at the foot of the primary sector leaderboard overnight. Tesla Inc jumped +7.33% buoyed by an upbeat research note from analysts at Baird that highlighted some positive developments ahead of the electric vehicle maker in the second half of the year, including the launch of the Cybertruck and “a wider-scale adoption of [Full Self Driving, Tesla’s suite of advanced driver assistance systems to navigate city streets], continued growth in the energy business, expanding into new markets, and a possible AI [Artificial Intelligence] Day.” Palo Alto Networks Inc soared +14.84% after the cybersecurity firm’s fiscal fourth quarter result released after the close of last Friday’s (18 August) session topped consensus analysts forecasts, as did forecasts for profit and billings.
