Morning Report 8 Dec 21: US and European stocks gain setting the stage for ASX gains
US sharemarkets advanced on Tuesday on optimism that the Omicron virus variant wont derail global growth. Investors piled into technology shares with chip giant Intel up 3.1% on plans to take its self-driving car unit Mobileye public. Shares of Apple, Microsoft, Alphabet and Amazon were all up over 2.5%. American Express (+3.9%) was a strong performer as holiday spending soared. But Merck shares slipped 1.6% after the drugmaker paused enrolment in its HIV-1 clinical trials. The Dow Jones index closed up by 492 points or 1.4% after being up 592 points at session highs. The S&P 500 index lifted by 2.1% and the Nasdaq index added 462 points or 3%, posting its best day since March.
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 the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (the Bank), and a market participant of ASX Limited and CHI-X Pty Limited, a clearing participant of ASX Clear Pty Limited and a settlement participant of ASX Settlement Pty Limited. Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report 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.
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