Morning Report 10 Jan 22: ASX set for a flat start as investors await key inflation readings

US sharemarkets were weaker again on Friday. US jobs rose by less than expected but investors believed that the Federal Reserve would continue with plans to remove monetary stimulus. Financials rose 1.1% to record highs and energy rose 1.4%. But technology fell by 1% and consumer discretionary fell by 1.6%. The S&P 500 value index added 1% this week, outperforming the S&P 500 growth index, down 4.5%. The Dow Jones index fell by 5 points on Friday or less than 0.1%. The S&P 500 index fell by 0.4%. And the Nasdaq index fell by 145 points or 1.0%. Over the week the Dow fell by 0.3%. The S&P 500 fell by 1.9%. And the Nasdaq fell by 4.5%.

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