Brazil’s Ibovespa gained 2172 points or 2.2% to 98,937 on Monday, as better than expected macro data in the US, fresh highs in the tech sector and a 5-year record in China shares outweighed rising daily COVID cases in the world. On the domestic policy side, Economy Minister Guedes announced on Sunday that within 90 days the government will carry out three or four "major privatizations", adding that the Post Office is on the list, without giving any additional information. On the macro front, car production in Brazil jumped 129.1% in June, as factories gradually reopen.

Wall Street closed deeply in the green following the holiday, as tech stocks led by fresh records of Amazon and Netflix shares nudged sentiment. On the macro side, the ISM Services index surprisingly jumped to 57.1 in June, well above expectations of 50.1. The result comes as the 7-day moving average for daily COVID cases in the US climbed to more than 48 thousand. On the corporate side, Berkshire Hathaway announced the purchase of natural gas transmission and storage assets from Dominion Energy for about $10 billion including debt. Meanwhile, BlackRock downgraded US stocks to neutral from overweight, citing rising coronavirus cases and stimulus running out. The Dow Jones gained 460 points or 1.8% to 26,287. The S&P 500 jumped 50 points or 1.6% to 3180. The Nasdaq climbed 226 points or 2.2% to a new record of 10,434.

The Canadian stock market ended on a firm note on Monday as gains in oil prices lifted the heavyweight energy sector, with sentiment bolstered by hopes of a swift global recovery from the pandemic-induced economic blow as the US services industry activity almost returned to pre-coronavirus pandemic levels. Meanwhile, China threatened retaliation against Canada after Prime Minister Justin Trudeau censured a new security law giving Beijing more control over Hong Kong.

European shares jumped on Monday with the DAX 30 advancing more than 200 points or 1.6% to 12,733, its highest level since June 8th, amid signs of a global economic recovery. Upbeat data from the Eurozone showed that the bloc's retail trade rose more than expected in May, while the ISM PMI survey from the US suggested that the world's largest economy returned to growth in June following months of coronavirus-related restrictions. Meanwhile, investors feared that a resurgence of cases in the US could delay business re-openings.

German new manufacturing orders surged 10.4 percent month-over-month in May of 2020, following an upwardly revised 26.2 percent drop in the previous month which was the highest on record. May's reading is the second highest ever after the coronavirus lockdown was lifted. However, figures came below market forecasts of a 15 percent surge and factory orders are still 30.8 percent lower than in February, the month before restrictions were imposed. Foreign orders rose 8.8 percent, due to higher demand from both the Euro Area (20.9 percent) and other countries (2 percent). Also, domestic orders jumped 12.3 percent. By category, demand expanded for capital (20.3 percent), intermediate (0.4 percent), and consumer goods (4.7 percent). In addition, new orders in the automotive industry increased again markedly in May 2020, after very low levels in April 2020 but were still more than 47 percent lower than in February 2020. Year-on-year, factory orders were down 29.3 percent.

Mexico’s IPC lost 65 points or 0.2% to 37,885 on Monday, as the index decoupled from a global rally led by Chinese equities and the US tech sector. On the domestic side, S&P cut its 2020 GDP growth forecast to -8.5% from -6.7%. Meanwhile, gross fixed investment fell 28.9% MoM and 37.1% YoY in April to suffer its steepest decline since 1995.

The central bank of Israel left its key interest rate steady at 0.1 percent on July 6th 2020, in line with market expectations but decided to add new monetary policy tools to support the economic recovery amid an increase in the number of new COVID-19 cases in recent weeks and assure the continued orderly functioning of the financial markets. The central bank launched for the first time an ILS 15 billion program for purchasing corporate bonds in the secondary market; renewed the program which increases the supply of credit to small and micro businesses; and created an infrastructure for increasing the variety of assets that the banks can provide as collateral against this program.

Natural gas prices rose toward $1.8/MMBtu in July, on forecasts for hot weather across the US and higher air conditioning demand over the next two weeks, while a federal report last week showing a smaller-than-expected storage build boosted sentiment.

Gold prices edged higher on Monday, hovering near an eight-year high of $1,789 an ounce hit last week, as demand for dollar decreased, with markets showing little worry over a spike in coronavirus infections in the United States. Non-yielding bullion has risen nearly 18% so far this year, supported by unprecedented monetary stimulus and interest rate cuts by major central banks around the globe.