Morning Report 7 Feb 20 ; Wall St at record highs as investors focus on big picture

US sharemarkets hit record highs during Thursday's session. Investors were encouraged by China's move to cut tariffs a day after the central bank cut interest rates. US economic data was also better-than-expected. Shares in Twitter rose by 16% after quarterly revenue passed $1billion. More than 70% of 305 S&P 500 companies that have reported so far have exceeded quarterly earnings estimates, according to IBES data form Refinitiv. With an hour of trade to go, the Dow Jones index was higher by 100 points or 0.4%. The S&P500 index was up by 0.3% and the Nasdaq index gained 54 points or 0.6%.

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