Morning Report 21 Oct 20: US sharemarkets rose on Tuesday on stimulus hopes

US House Speaker Nancy Pelosi said Democrats and the White House are closing in on an aid package, though the Republican-controlled Senate remains in favour of a smaller deal. Tech shares shook off the US Justice Department’s decision to sue Google for allegedly abusing its power. Alphabet's shares rose 1.4%. Procter & Gamble shares climbed 0.4% after reporting sales growth of 9% for the previous quarter. Shares of insurer Travelers gained 5.6% as it beat quarterly profit expectations. But IBM shares fell 6.5% after it refused to issue a current quarter outlook. The Dow Jones index rose by 113 points or 0.4% after being up 379 points at session highs. The S&P500 index gained 0.5% and the Nasdaq index was up by 37 points or 0.3%. 

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