Investors were encouraged by a gain in the ISM services index and a lift in factory orders. And there were strong profit forecasts from PayPal and CVS Health. Shares in PayPal rose by 9.3% and CVS Health rose 6.4%. Shares in Regeneron Pharmaceuticals (+5.9%) and Starbucks (+4.3%) also rose after earnings reports. And shares in Moderna rose 16% after announcing a share buyback plan. The Dow Jones index rose by 416 points or 1.3%. The S&P 500 index rose by 1.6% and the Nasdaq index lifted by 319 points or 2.6%.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.