US sharemarkets rose after the release of strong company earnings and economic data. Morgan Stanley posted stronger-than-expected earnings, but the bank's shares fell 2.8% as it also disclosed an almost US$1 billion loss from the collapse of private fund Archegos. Shares of PNC Financial gained 2.3% after the bank beat estimates for its first-quarter report. The Dow Jones index rose by 165 points or 0.5% and the S&P 500 index gained 0.4% -both closing at record highs. The Nasdaq index added 14 points or 0.1%. For the week, the S&P 500 index rose 1.4%, the Dow Jones index added 1.2% and the Nasdaq index gained 1.1%.
This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.
Market Close 31 Aug 22: Sluggish end to August
Executive Series 24 Aug 22: GQG Partners (GQG) CEO, Tim Carver
Morning Report 31 Aug 22: US sharemarkets fell for a third straight session on Tuesday
Fortescue Metals (FMG) Full Year Result 30 Aug 2022: Profit and dividend decline
The a2 Milk Company (A2M) FY22 result 30 Aug 22: China sales lift
Market Close 30 Aug 22: ASX 200 bounces back from Monday’s slump
Morning Report 30 Aug 22: US sharemarkets fell on Monday
Market Close 29 Aug 22: Largest fall in 2 months for ASX 200
Morning Report 29 Aug 22: US sharemarkets slumped on Friday
Zip Co Full Year Result 26 Aug 22: Costs & bad debts rise
Market Close 26 Aug 22: ASX 200 lifts for a third day
Morning Report 26 Aug 22: US sharemarkets advanced on Thursday
Market Close 25 Aug 22: ASX 200 lifts for a second day
Executive Series 23 Aug 22: Transurban Group (TCL) CEO, Scott Charlton
Qantas Full Year Result 25 Aug 22: Covid recovery continues
Morning Report 25 Aug 22: US sharemarkets rose on Wednesday
Market Close 24 Aug 22: First gain of the week
Morning Report 24 Aug 22: US sharemarkets were weaker on Tuesday
Market Close 23 Aug 22: Biggest tumble in over 7 weeks
Pilbara Mineral’s Full Year Result 23 Aug 22: Lithium demand leads to inaugural profit
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