Morning Report 30 May 22: US sharemarkets climbed on Friday

There were expectations that inflation had peaked. Shares in computer hardware firm Dell rose 12.9% on better-than-expected earnings. Clothing retailer Gap lost 6.6% after trimming profit forecasts but shares in American Eagle Outfitters rose 4.3% despite similarly downgrading its outlook. The Dow Jones index closed higher by 576 points or 1.8%. The S&P 500 index rose by 2.5%. And the Nasdaq index gained 390 points or 3.3%. Over the week the Dow rose 6.2% and the S&P 500 rose 6.6% - both posting the biggest gains since November 2020. And the Nasdaq gained 6.8%.

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