Morning Report 22 Oct 20: US sharemarkets closed lower Wednesday

Investors continued to assess progress on a stimulus deal with ongoing talks between US House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin. Snap shares surged 28.3% on stronger-than-expected results for the previous quarter. Social media shares of Twitter (+8.4%) and Pinterest (+9.0%) both jumped. But Netflix shares slid 6.9% after subscribers fell short of predictions. The Dow Jones index fell by 98 points or 0.4% to close near session lows. The S&P500 index lost 0.2% and the Nasdaq index was down by 32 points or 0.3%. 

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