Morning Report 25 Aug 21: US sharemarkets rose on Tuesday

Hotels, restaurant, leisure and airline stocks rose in further response to the regulatory approval of the Pfizer-BioNTech Covid vaccine. Shares in Best Buy rose 8.3% after the electronics retailers raised its full-year sales guidance. Energy rose 1.6% in response to a higher oil price. Sharemarket trade was generally light however ahead of a speech from the Federal Reserve chief on Friday. The Dow Jones index rose by almost 31 points or 0.1%. The S&P 500 index rose by 0.2% to record highs. And the Nasdaq index added 77 points or 0.5%, closing at a record high.

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