The CommSec Market Update 14 Feb 23: US stocks advance ahead of key inflation data

US sharemarkets advanced on Monday after a New York Federal Reserve consumer survey showed inflation expectations were little changed in January. Microsoft shares gained 2.7% following a price target increase by broker Stifel due to the tech giant's integration with ChatGPT. Meta Platforms shares added 3% on reports that the company was preparing to announce a fresh round of job cuts. Ford Motor (+2.8%) said it will collaborate with a Chinese supplier on a new US$3.5 billion battery plant for electric vehicles in Michigan. Shares of Fidelity National Information Services plunged 13.6% following its decision to spin-off its merchant payments business. With around an hour left of trade, the Dow Jones index was up by 284 points or 0.8%. The S&P 500 index rose 0.9% and the Nasdaq index added 135 points or 1.2%.

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