Morning Report 27 May 21: US sharemarkets edged higher on Wednesday

Comments from US Federal Reserve officials helped damp down concerns about runaway inflation and kept bond yields in check. Technology shares lifted with Tesla (+2.4%) leading gains. Amazon (+0.2%) announced plans to buy MGM Studios for US$8.45 billion. Shares of Ford rose 8.5% after the automobile giant said it is increasing its investment in electric vehicles. Department store Nordstrom shares dropped 5.8% after reporting a quarterly loss. The Dow Jones index rose by 11 points or less than 0.1%. The S&P 500 index lifted 0.2% and the Nasdaq index gained 81 points or 0.6%. 

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