28 July 2020 Pre-Earnings Rally | Pushpay Update Global markets were mixed overnight as the US market closed higher (S&P 500 Index +0.7%) as investors watched US politician progress on an additional $1 trillion coronavirus aid proposal as the enhanced unemployment benefit expires on Friday. Gains were led by the technology sector with notable names Apple, Amazon, Facebook and Google all due to report this week, lifting the market higher in anticipation. Almost 40% of the Nasdaq report on Thursday and this will offer clues on whether the record-breaking tech sector advance through mid-July has been justified. Overall, about 80% of the 130 S&P 500 firms that have reported so far have managed to beat a low bar of earnings estimates, according to IBES Refinitiv data. The main concern for investors however is that the economic recovery will be slow due to the combination of an inability to bend the virus curve and that ...