Dow Jones Industrial Average (DJIA), 18,636.05 +59.58 points +0.32%
S&P 500 (SPX), 2,190.15 +6.10 points +0.28%
Nasdaq (Comp) 5,262.02 +29.12 points +0.56%
It is a great year for US market, better than expected earnings drive the market to record high. Unlike rally in the previous bull market, John Stoltzfus, chief investment strategist at Oppenheimer said this bull market lack of overconfidence shown 17 years ago. He has 2,300 as the target for SPX this year.
Oil futures CLU6 settled up 2.8% at $45.74 a barrel as Russian reconfirmed intention to cooperate in Oil freeze talk next month.
Gold reluctant to move up, closed around 1,340 it wait for more clue from July Fed minutes of meeting release this Wednesday. The market pushed back odds Fed increased rate earlier last Friday after bad retails data, greenback retreated but still well above support.
Earnings report, Merger-Acquisition, Shares report
Salesforce.com Inc. (CRM), down 3.3%, after the company announced it would postpone earnings release from Aug 29, 2016, to Aug 31, 2016, to accommodate a scheduling conflict.
Xylem (XYL) up 3.9% to $50.32 after it announced a deal to acquire Sensus USA for $1.7B in cash.
Twitter (TWTR) up 6.8 percent to $20.86 as the company in discussion to enter its app to Apple TV platform.
Post Properties (PPS) up 9.4 percent to $68.08 after take over by Mid-America Apartment Communities (MAA) for about $3.88 billion. Mid-America’s shares down 4.9 percent to $97.15.
Other News
Big names on the move
Berkshire Hathaway Inc. increased position in Apple Inc. during the second quarter from 9.8M shares to 15.2M shares, an increase of 4.4M. It is also scaling out positions in Wal-Mart from 55.2M to 40.2M decrease of 15M.
George Soros bought positions in Liberty Broadband Corp estimated at $533.5M in Q2 and slashed 18.33M shares position to 1.07M in Barrick Gold Corp (ABX) according to 13F-HR filings.
Halt in controversial shares which exceed Tesla
SEC halted Neuromama Ltd, quoting “potentially manipulative transactions.” after the company cap reached $35B even though no filing of financial results since 2013. Bloomberg noted company market cap value exceeding Tesla Motors Inc., Yum! Brands Inc. and Delta Air Lines Inc.
Pound further decline
The pound is getting close to 1.2850 handles, will it fell further and print new record low this year? Market await inflation news release on Tuesday to gauge UK situation after Brexit vote.