AM Report: 10 Jul 18: US supported by jobs and strong expectations from bank results

US sharemarkets increased on Monday as investors continued to focus on Friday's positive jobs report, while looking ahead to the beginning of an expected strong quarterly earnings season. The S&P500 Banks index rose by 2.7% with JPMorgan (+3.1%), Wells Fargo (+1.6%) and Citigroup (+2.7%) all scheduled to report on Friday. Industrial bellwether Caterpillar's shares (+4.1%) boosted the Dow. But Twitter shares fell 5.4% on reports that it suspended more than 70 million fake accounts in May and June, which could be negative for user growth. The Dow Jones rose by 320 points or 1.3%.

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