Morning Report 21 Dec 22: US sharemarkets snapped a four day losing streak on Tuesday

Energy (+1.5%) and financial (+0.3%) stocks led gains after the Bank of Japan tweaked its monetary policy in a surprise move that would allow long term interest rates to rise more. Shares of drug maker Moderna rose 5.9% after the stock was upgraded by broker Jefferies to "buy" from "hold". Miner Newmont's shares jumped 4.4% as the price of gold climbed. But Tesla shares lost 8.1% after several brokerages cut the electric vehicle maker's target price on growing concerns of demand weakness. Shares of food producer General Mills dropped 4.6%, despite reporting better than expected quarterly revenue and profits. At the close of trade, the Dow Jones index rose by 92 points or 0.3%. The S&P 500 index lifted by 0.1% and the Nasdaq index added just 1 point or less than 0.1%.

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