Morning Report 16 Jan 23: US sharemarkets rose on Friday

Shares in JP Morgan Chase rose 2.5% and Bank of America rose 2.2% after earnings beat forecasts. Shares in Wells Fargo rose by 3.3% and shares in Citigroup rose 1.7% despite quarterly earnings falling short of consensus profit forecasts. But shares in Tesla fell 0.9% after announcing price cuts on its electric vehicles in the US and Europe. At the close of trade, the Dow Jones index rose 113 points or 0.3%. The S&P 500 index gained 0.4%. And the Nasdaq index added 78 points or 0.7%. Over the week the Dow rose 2.0%; S&P 500 rose 2.7%; Nasdaq rose 4.8%.

 

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