Morning Report 11 Nov 22: US sharemarkets surged on Thursday

Signs of cooling consumer prices in October raised hopes that the US Federal Reserve would soon start scaling down the size of interest-rate hikes. The data prompted traders to adjust their rate hike bets, with odds of a 50 basis point rate hike in December jumping to 73.5%. Shares of Amazon (+12.2%), Apple (+8.9%), Meta Platforms (+10.3%), Microsoft (+8.2%) and Tesla (+7.4%) all soared. At the close of trade, the Dow Jones index was up by 1,201 points or 3.7%, the most since May 18, 2020. The S&P 500 index rose by 5.5%, the most since April 6, 2020. The Nasdaq index gained 761 points or 7.4%, the most since March 24, 2020. 

 

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