Market update

• Global indexes ended higher last week buoyed as data showed that new daily cases of COVID-19 had slowed. While during the week, new daily cases surged due to a change in methodology, equities remained rather resilient as market continued to focus on the rate of new daily cases, and seemed to be willing to see through near-term weakness expecting a V-shaped economic recovery. Market focus this week will likely remain on the rate of new infections. In addition, majority of SPX companies that have reported so far posted positive earnings surprises with 4-5