Morning Report 19 Jul 22: US sharemarkets eased on Monday

US sharemarkets were dragged down by weaker bank stocks and a fall in the Apple share price. Apple lost 2.1% on a Bloomberg report that said the company plans to slow hiring and spending growth next year in some units to cope with a potential economic downturn. The S&P financial sector fell by 0.5%. Shares in Bank of America ended flat after its earnings report. But energy rose by 2% on a rise in the oil price. Shares in Boeing ended flat after Delta Air Lines said it would buy 100 MAX 10 jets worth about $13.5 billion. After being up 356 points early in the session, the Dow Jones index closed lower by 216 points or 0.7%, the S&P 500 index lost 0.8%. And the Nasdaq index lost 92 points or 0.8%.

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