Morning Report 4 Feb 21: US sharemarkets were mixed on Wednesday

Shares of Alphabet surged 7.3% after the tech giant topped earnings estimates. Amazon shares dipped 2.0% as Jeff Bezos' surprise move to step down as CEO quashed optimism about bumper quarterly results. JPMorgan Chase (+1.2%) and Morgan Stanley (-0.5%) issued bullish calls on the financials industry. Shares of GameStop climbed 2.7%. Amgen shares fell 1.4% after the biotech firm issued a weaker-than-expected full year outlook. Drugmaker Biogen (-5.2%) also issued disappointing forecasts. The Dow Jones index closed up by 36 points or 0.1%. The S&P 500 index also rose by 0.1%. But the Nasdaq index fell by just 2 points or 0.02%.       

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.