·           The Nasdaq and Dow also rose sharply. The Dow Jones Industrial Average rose 1.0% to 27,976.8, the S&P 500 was up 1.4% to 3,380.4 while Nasdaq Composite rose 2.1%, to 11,012.2.

·           Tesla Inc shares jumped 13.1% after it announced a five-for-one stock split in an attempt to make its shares more accessible to employees and investors.

·           The prospect of declining coronavirus cases at a time when the federal government and central banks are still supporting the economy could have lifted sentiment. Federal Reserve speakers advocated the need to protect a nascent recovery. Dallas head Robert Kaplan called on officials to push harder for adherence to protective behaviours and said extending unemployment benefits is "critical" to growth.

·           Data showed US consumer prices increased more-than-expected in July, but high unemployment is likely to keep inflation under control, allowing the Federal Reserve to continue pumping money into the economy.

·           Sentiment may have lifted too after President Donald Trump said the US government will purchase 100 million doses of Moderna's experimental coronavirus vaccine, which is currently in late-stage human trials.

·           The UK economy officially entered a recession, after gross domestic product dropped 20.4% in the second quarter of 2020, compared to the previous three months.

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