MARKET RECAP at 4 pm ET Wall Street rallied as a rebound in Coming Up M&A activity lifted sentiment, and efforts to hammer out a coronavirus relief bill resumed. The Treasury yield curve steepened on positive economic news. Gold prices retreated from record highs as the dollar firmed. Oil prices rose. STOCKS Close Chng %Chng Yr-high Yr-low DJIA 26664.40 236.08 0.89 29568.57 18213.65 Nasdaq 10902.80 157.52 1.47 10839.93 6631.42 S&P 500 3294.63 23.51 0.72 3393.52 2191.86 FTSE 6032.85 135.09 2.29 7689.67 4898.79 Eurofirst 1413.87 28.87 2.08 1691.19 1051.38 Nikkei 22195.38 485.38 2.24 24115.95 16358.19 Hang Seng 24458.13 -137.22 -0.56 29174.92 21139.26 Walt Disney Concert Hall is pictured at dusk during the outbreak of the coronavirus disease, in Los Angeles, California, July 15. REUTERS/Mario Anzuoni TREASURIES Yield Price Walt Disney Co is expected to report a Executives from insurer American 10-year 0.5494 -4 /32 slump in third-quarter revenue due to International Group Inc are set to 2-year 0.1113 0 /32 coronavirus-related disruptions. discuss the company's second-quarter 5-year 0.2169 -1 /32 Investors will gauge how significantly results in a call with analysts. 30-year 1.2267 -24 /32 the pandemic has hurt the company's Prudential Financial Inc is set to theme parks, TV networks and movie report its quarterly results after markets FOREX Last % Chng studio, while boosting streaming close. Analysts expect a challenging Euro/Dollar 1.1767 -0.06 services like Disney+. quarter for many life insurers because Dollar/Yen 105.93 0.05 of COVID-19 deaths and lower Sterling/Dollar 1.3077 -0.08 U.S. factory orders data is due for investment returns. Investors will also Dollar/CAD 1.3380 -0.25 release and it is likely to have risen 5% be looking at whether Prudential's TR/HKEX RMB 91.71 -0.06 in June after rising 8% in the previous annual review of its actuarial month. assumptions will lead to additional COMMODITIES ($) Price Chng % chng reserving. Front Month Crude /barrel 40.83 0.56 1.39 Spot gold (NY/oz) 1976.13 1.44 0.07 Copper U.S. (front month/lb) 0.0291 0.0005 1.68 KEY ECONOMIC EVENTS CRB Index Total Return 155.89 3.27 2.14 Events ET Poll Prior S&P 500 Price $ Chng % Chng Durables ex-defense, R mm for Jun 1000 -- 9.2% GAINERS Durable goods, R mm for Jun 1000 -- 7.3% Varian Medical Systems Inc 174.21 31.49 22.06 Mckesson Corp 159.90 9.74 6.49 Factory orders mm for Jun 1000 5.0% 8.0% Cardinal Health Inc 58.02 3.40 6.22 Durables ex-transport R mm for Jun 1000 -- 3.3% LOSERS Non-defense cap ex-air R mm for Jun 1000 -- 3.3% Under Armour Inc 9.66 -0.86 -8.17 Carnival Corp 13.07 -0.81 -5.84 Factory ex-transport mm for Jun 1000 -- 2.6% CBRE Group Inc 41.36 -2.45 -5.59 German rapid coronavirus test maker Qiagen NV, which has been the subject of a heated dispute between U.S. bidder Thermo Fisher Scientific and a key shareholder who is seeking a higher price for the genetic test maker, will release its second-quarter results. Match Group Inc is expected to post a rise in second-quarter revenue, as its popular dating app "Tinder" attracted more paid users in the quarter, particularly people who are sheltering at home under coronavirus lockdowns. Investors will be looking for new average subscribers additions on Tinder. Beyond Meat Inc is expected to record a loss for the second quarter, as several of its restaurant partners had to reduce operations or shut stores due to A file photo shows an exterior view of Encore and Wynn properties in Las Vegas, Nevada, the COVID-19 pandemic. Investors will February 7, 2018. REUTERS/Steve Marcus pay attention to the company's plans on retail expansion, as rival Impossible people away from gambling tables at Brazil's industrial output data is Foods now sell its products in over the U.S. casino operator. Investors will scheduled for release. 8,000 supermarkets in the United look for comments around demand and States, including 2,000 Walmart stores. updates on the company's financial LIVECHAT - REUTERS GLOBAL forecast. MARKETS FORUM Boeing's biggest supplier, Spirit With less than 100 days to go for the AeroSystems Holdings Inc is Ralph Lauren Corp is expected to U.S. Presidential elections, join us on expected to report a loss in its second report a plunge in its first-quarter the GMF as we discuss the elections quarter, due to a slump in demand for revenue due to store closures caused with our panel of experts that include new aircraft amid the coronavirus by the COVID-19 pandemic. Wall market gurus, political pundits and crisis. Investors will look for comments Street will likely focus on any betting experts. Mohamed El-Erian, on the company's plan to reduce costs comments the company makes on Chief Economic Adviser at Allianz as a recovery is not in sight over the what demand for luxury goods looks discusses economics and markets next several years. like in markets where the pandemic ahead of the U.S. elections in has eased. November. (1200 ET/1600 GMT) To Wynn Resorts Ltd is expected to join the conversation, click here report a second quarter loss versus a Canadian manufacturing activity year-ago profit as fears of contracting data for July is expected to be the coronavirus coupled with pandemic released. -driven government restrictions kept 2 Market Monitor The Nasdaq closed at a record high as a rebound in multibillion-dollar deals, including Microsoft's pursuit of TikTok's U.S. operations, lifted sentiment, and efforts to hammer out a coronavirus relief bill resumed. Microsoft jumped 5.6% after it said it would push ahead with talks to buy the U.S. operations of TikTok. Apple continued post-earnings rally and rose 2.5%. ADT surged 56.7% on news that Google was buying a stake in the company. Varian Medical jumped 22.1% after a $16 billion buyout by Siemens Healthineers. "The market is revolving around M&A activity possibly picking up," said Jake some pause or retracement in the oversupply as OPEC begins to lift Dollarhide, chief executive officer of recovery." The spread between the supply cuts. Brent crude was at Longbow Asset Management in Tulsa, two- and 10-year yields widened to $43.91 a barrel, rising 0.90%. U.S. Oklahoma. "It means CEOs are more 44.3 basis points. The benchmark 10- crude rose 1.39% to $40.83 a barrel. confident about the future. Otherwise, year notes were down 4/32, yielding "The industrial sector is picking back up why would they lay out billions of 0.54%. The two-year notes were flat, and that portends well for demand dollars?" The Dow Jones Industrial yielding 0.11%. 30- year bonds fell going forward," said John Kilduff, Average rose 0.89% to 26,664.4 25/32 to yield 1.22%. partner at Again Capital LLC in New points, while the S&P 500 gained York. 0.72% to 3,294.66. The Nasdaq The dollar was up against a basket of Composite added 1.47% to 10,902.80, currencies as investors unwound some Gold prices retreated from a record at close. recent short positions following the high after the dollar strengthened and currency's weakest monthly investors booked some profits, with the The Treasury yield curve steepened, performance in a decade. The dollar focus now on proposals for new U.S. an indication of improved investor index, which measures the greenback coronavirus aid to extend relief benefits sentiment, after an Institute for Supply against a basket of leading currencies, to jobless Americans. Spot gold was Management (ISM) report showed that posted a more than 4% decline for up 0.07% at $1,976.08 per ounce, after U.S. manufacturing activity rose to a 1- July, its biggest monthly drop since hitting a record high of $1,984.66. U.S. 1/2 year high in July. "We got a September 2010. The dollar index gold futures rose 0.36% to $1,993.10 relatively strong ISM manufacturing was last up 0.19% at 93.53. The dollar an ounce. "The pullback is just print," said Jon Hill, U.S. rates was up 0.05% against the Japanese technical because we're so close to strategist at BMO Capital Markets. yen, at 105.93 yen. $2,000 level and there's profit taking "That pushes back against some of the and strengthening of the dollar has also narrative that was percolating last Oil prices were up on positive caused gold to pause here," said Bob week, that the recovery is slowing. So economic data from the United States, Haberkorn, senior market strategist at this at least is consistent with a Europe and Asia, but investors RJO Futures. recovery, but a slow one. Whereas last remained concerned about rising week, it looked like there might be COVID-19 cases globally and 3 Top News Trump: U.S. should get 'substantial portion' of TikTok operations sale price U.S. President Donald Trump said the U.S. government should get a "substantial portion" of the sales price of the U.S.