S&P/ASX 200 cools down after surging 1% to a new five-month intraday peak of 6199

S&P/ASX 200 (INDEXASX:XJO) is up 0.55% to 6,164 at 12.40 pm thanks mainly to strong gains from the banks, insurers and technology stocks. The gains follow record highs across US markets overnight, with the S&P 500 lifting by around 1% after media reports suggested the Trump Administration is considering fast-tracking FDA approval for the vaccine being developed by AstraZeneca and Oxford University. Shares hitting all-time highs Afterpay Ltd (ASX:APT) continues to hit new highs every day, with the company’s stock soaring 8% to a new record high of $89.27 today morning. This follows an upgrade in target price to $106 from $101 by Morgan Stanley. Xero Limited (ASX:XRO) crossed the $100 mark to hit a new record high of $101.24 after revealing its plan to purchase Australian cloud-based invoice lending platform Waddle for $80 million. COVID-19 update Victoria recorded 148 new COVID-19 cases and eight deaths in the past 24 hours. NSW has recorded three COVID-19 cases in the same period. The US posted 297,000 new cases for the week ended August 23, down from a weekly peak of over 468,000 cases in mid-July. The country is now averaging less than 50,000 new COVID-19 infections a day for the first time since early June. Top gainers Today’s top gainers on the ASX include Apollo Minerals Limited (ASX:AON) (+10.71%), Corazon Mining Ltd (ASX:CZN) (+50.00%), Fe Limited (ASX:FEL) (+12.50%), Comet Resources Limited (ASX:CRL) (+14.29%) and Argonaut Resources NL (ASX:ARE) (+14.29%). Proactive news headlines: Comet Resources higher on completing acquisition of Santa Teresa Gold Project Comet Resources Limited (ASX:CRL) is keen to get on the ground after completing the first stage of an agreement with El Alamo Resources Limited (EARL) resulting in 50% ownership of the Santa Teresa Gold Project. White Rock Minerals seeks cross listing on OTC after strong North American interest in Red Mountain White Rock Minerals Ltd (ASX:WRM) has applied for an OTCQX cross listing of securities in North America following strong interest from North American investors in the company’s recent equity raising and its Red Mountain project. Great Western to begin exploration at Atley in WA gold hotspot Great Western Exploration Ltd (ASX:GTE) is to begin exploration at the Atley Gold Project in Western Australia, with field mapping, soil sampling and shallow auger drilling to test structural targets along strike of the Youanmi and Penny West gold deposits. MGC Pharmaceuticals to establish joint venture for medicinal products in Russian market MGC Pharmaceuticals Ltd (ASX:MXC) has executed an agreement with a leading Russian doctor and medical researcher to establish a joint venture company for medical products in the Russian market, including to facilitate registration of anti-inflammatory product ArtemiC as a medicine. Roots Sustainable Agricultural raises $2.51 million to expand commercialisation of root zone temperature optimisation Roots Sustainable Agricultural Technologies Limited (ASX:ROO) has received firm commitments to raise around $2.51 million via a private placement to fund the commercialisation of its 'Root Zone Temperature Optimization' systems and advance other initiatives in the artificial meat market. Horizon Minerals reviews Nimbus project on back of strong silver and zinc prices Horizon Minerals Ltd (ASX:HRZ) has started a strategic review of its Nimbus Silver-Zinc Project in Western Australia to assess value creation options including divestment, joint ventures or standalone development.