Last checked at 
* Nasdaq, S&P 500, Dow in green
* Tech leads S&P sectors higher, energy decliners
* European STOXX 600 up ~0.4%
* Bitcoin jumps; dollar, gold ~flat; oil slumps
* U.S. 10-year Treasury yields ~1.25%
Aug 20 - Welcome to the home for real-time coverage of
markets brought to you by Reuters reporters. You can share your
thoughts with us at markets.research@thomsonreuters.com
WHAT ABOUT INFLATION, THE TAPER WHEN WALL STREET GAINS?
(1010 EDT/1410 GMT)
The Nasdaq, S&P 500 and Dow rose on Friday as investors
shrugged off concerns about inflation, the Federal Reserve's
plans to taper its bond purchases and a jump in COVID-19 cases.
Before the gains on Friday, the Dow and the S&P 500 were on
course for their worst week since mid-June.
Information technology followed by healthcare
led nine of the 11 S&P sectors higher, with energy
leading declining shares.
Investors have been wrestling with what Art Hogan, chief
market strategist at National Securities, calls a cauldron of
concerns that is juxtaposed with a market hovering near all-time
highs in a month that has been historically investor unfriendly.
"The natural instinct of some investors has been to lean
into the negative narrative and take profits," Hogan said in his
morning note.
Growth-oriented shares outpaced economically sensivite value
stocks, with the Russell 1000 Growth index up 0.79% and the
Russell 1000 Value index gaining 0.34 %.
In Europe, the broad STOXX Europe 600 index rose
0.41%.
Here is where markets stand in early trade:
(Herbert Lash)
*****
CHINA ADRS FUEL WORST 6-MONTH HEDGE FUND PERFORMANCE SINCE
2008 (0900 EDT/1300 GMT)
Unusually weak performance at high risk but high return
funds in the past six months can be chalked up to China ADRs, as
they made up one-third of the most popular hedge funds' long
positions, research by Goldman Sachs shows.
A basket of VIP hedge funds lagged the S&P 500
by 13 percentage points over the last six months,
matching late 2008 as its worst stretch on record, GS
strategists wrote in a note.
In fact, U.S.-listed China stocks reeling from an onslaught
of tightening regulation in Beijing has put the Invesco Golden
Dragon China ETF on path for its longest streak of
weekly losses in a decade.
Among FAAMG names: Amazon.com Inc ranked as one of
the "rising star" stocks with the largest increase in hedge fund
popularity last quarter, while Microsoft Corp landed in
the "falling stars" list of declining popularity, strategists
said.
A basket of stocks with the highest short interest as a
share of float (.GSCBMSAL) has underperformed the S&P 500 by 16
percentage points since late June alongside a decline in retail
trading activity, strategists note.
Meanwhile, hedge funds rotated modestly toward growth stocks
in Q2, ending a sharp year-long move toward value stocks,
according to the report.
(Medha Singh)
*****
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