Morning Report 28 Aug 20: US sharemarkets mostly rose on Thursday

Fed Chairman Jerome Powell said the central bank formally agreed to a policy of "average inflation targeting." In other words, the central bank will let inflation run “moderately” above its 2% goal for “some time.” Abbott Laboratories shares jumped 7.9% after winning clearance for a 15-minute COVID-19 test. Shares of Walmart (+4.5%) and Microsoft (+2.5%) both rose after announcing a joint bid for TikTok's US assets. But shares of Facebook (-3.5%) and Netflix (-3.9%) both fell, weighing on the Nasdaq index. The Dow Jones index rose 160 points or 0.6%. The S&P500 index lifted 0.2% to a record closing high. But the Nasdaq index lost 39 points or 0.3%.    

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