Morning Report 24 Oct 22: US sharemarkets rose on Friday

There were hopes for smaller interest rate hikes in coming months. According to a Wall Street Journal report, the US Federal Reserve will likely lift rates by 75 basis points on November 2 but then debate "whether and how to signal plans to approve a smaller rate increase in December." Shares of Snap dropped 28.1% after posting slower revenue growth. After releasing earnings, shares in American Express fell 1.7% and Verizon lost 4.5%. The Dow Jones index lifted by 749 points or 2.5%. The S&P 500 index gained 2.4%. And the Nasdaq index rose by 245 points or 2.3%. Over the week, the Dow rose by 4.9%; S&P 500 lifted 4.7%; and the Nasdaq gained 4.2%. It was the best week since June for all three major indexes. 

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