Morning Report 24 Jan 23: US sharemarkets rose on Monday

Technology stocks - especially chipmakers - drove gains. Shares in Qualcom rose 6.6% with American Micro Devices up 9.2% on a broker upgrade. Baker Hughes fell 1.5% after missing earnings estimates. Shares in Spotify rose 2.1% after announcing a 6% cut of its global workforce. Shares in Tesla rose by 7.7% with Apple up 2.4%. The Dow Jones index finished trade higher by 254 points or 0.8% after earlier being up 407 points. The S&P 500 index lifted by 1.2%. And the Nasdaq index gained 224 points or 2.0%.

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