Morning Report 1 Feb 23: US sharemarkets rose on Tuesday

Investors were encouraged by data showing the smallest gain in labour costs in a year. In response to earnings, shares in General Motors rose 8.4% and Exxon Mobil rose 2.2% but Caterpillar fell 3.5% and McDonalds fell 1.3%. At the close of trade, the Dow Jones index was up by 369 points or 1.1%. The S&P 500 index rose 1.5%. And the Nasdaq index lifted 191 points or 1.7%. In January the Dow rose by 2.8%; S&P 500 rose by 6.2%; and the Nasdaq gained 10.7% (biggest January gain for the Nasdaq since 2001).

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