Nasdaq jumps more than 2% led by Amazon, S&P 500 goes positive for 2020; European markets close higher on positive coronavirus vaccine results; Ubi Banca up 14%; BELEX15 end Monday with no change; Inflation expectations are at 1-2% for one year ahead
Stocks rose on Monday as Amazon shares led other major tech stocks higher. Traders also weighed the prospects of a potential coronavirus vaccine and more U.S. fiscal stimulus. The S&P 500 advanced 0.8%, or 27.11 points, to 3,251.84, turning positive for 2020 with a 0.6% gain on the year. The Nasdaq Composite outperformed, rising 2.5%, or 263.90 points, to 10,767.09. The Dow Jones Industrial Average traded 8.92 points higher to 26,680.87, after being down more than 150 points earlier in the day.
Amazon rose 7.9% to post its best day since December 2018 after a Goldman Sachs analyst hiked his price target on the stock to $3,800 per share, the highest on the Street. Facebook and Netflix gained more than 1% each, while Apple and Alphabet gained 2.1% and 3.1%, respectively. Shares of Microsoft jumped 4.3%.

European stocks closed higher Monday as investors reacted to positive results from another coronavirus vaccine candidate.
The pan-European Stoxx 600 recouped earlier losses to close over 0.7% higher provisionally. Construction and material firms led the gains with a 1.4% rise, with most sectors and major bourses in positive territory.
Ubi Banca rallied 14% after Intesa Sanpaolo increased its takeover bid for the smaller Italian lender. Shares of Philips rose over 5% after the health tech firm posted better-than-expected results.

BELEX15 ended Monday with no change. NIS was a single active stock, worth mentioning, even though it also generated relatively low volume – only RSD 1.5m. Komercijana Banka said its EGM adopted decision on changed strategy for 2020-2022. No details were available as usual. The stock was flat yesterday, with no activity.
From the macro side we had an update on inflation expectations for June. According to NBS report, one year inflation is expected in a range of 1-2%, while corporate sector has lowered its target for 1% level.
Source: CNBC, Ilirika