Morning Report 3 Feb 22: ASX set for flat start as Wall St continues recent advance

US sharemarkets were firmer on Wednesday, supported by strong earnings results. After posting their results, shares in Alphabet (Google) rose by 7.5% and shares in chipmaker Advanced Micro Devices rose by 5.1%. But shares in PayPal fell 24.6% after disappointing with earnings guidance. Shares in banks eased in line with bond yields in response to data showing a fall in jobs in January. At the close of trade the Dow Jones index was up 224 points or 0.6%. The S&P 500 index rose 0.9%. And the Nasdaq index rose by 71.5 points or 0.5%.

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