Morning Report 12 Jul 21: US sharemarkets rose on Friday

Investors regained some confidence in the global growth outlook. Bank of America (+3.3%), Goldman Sachs (+3.6%) and JPMorgan (+3.2%) led a bounce in financial shares ahead of June quarter earnings results. Shares of General Motors gained 4.8% after Wedbush Securities said the stock is a buy. Levi Strauss shares lifted 1.4% as it forecast a strong full-year profit. The Dow Jones index rose by 448 points or 1.3%. The S&P 500 index gained 1.1% and the Nasdaq index added 142 points or 1.0%. All three indexes closed at record highs. For the week, the Dow was up 0.2%, and the S&P 500 and Nasdaq each added 0.4%.

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