·           Trade officials in Washington and Beijing reaffirmed their commitment to Phase One of a bilateral trade deal, but goodwill between the countries soured as China called a US spy plane's flight through a no-fly zone a provocation.

·           The Dow Jones Industrial Average fell 60.02 points, or 0.21%, to 28,248.44, the S&P 500 gained 12.34 points, or 0.36%, to 3,443.62 and the Nasdaq Composite 0.76% to 11,466.47.

·           Salesforce soared more than 12% in late trading after it topped second-quarter revenue and profit estimates and raised its annual sales forecast, thanks to strong software demand.

·           But there is a dichotomy between what's happening in the stock market and the economy, as the Conference Board's Consumer Confidence index plunged to a 6-year low this month, while a report from the Commerce Department showed sales of new homes in July surged to a more than 13½-year high.

·           So, while some US households are able to buy new homes, millions of others are unable to afford life's necessities and pay the rent, which pours cold water on the idea that the economic recovery is sustainable. At least 28 million people are on unemployment benefits. Economists say unemployment has disproportionately affected low-wage workers, who are typically renters.

·           British drugmaker AstraZeneca has begun trials of its antibody-based drug for the treatment and prevention of Covid-19, the latest development in a global race to combat the pandemic. In Florida, cases continued to moderate, but the situation could be upended if the approaching storm forces evacuations. Translate Bio and Sanofi said their experimental vaccine showed promising results in animal studies.

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