Morning Report 7 May 21: US sharemarkets advanced on Thursday

PayPal shares lifted 1.9% after the company posted better-than-expected earnings. Costco shares jumped 2.8% after the retailer said that its April sales surged 33.5%. Regeneron Pharmaceutical shares were up 3.4% on a better-than-expected quarterly profit. Shares of vaccine makers Pfizer (-1.0%) and Moderna (-1.4%) both fell after US President Joe Biden backed plans to waive patents on Covid-19 shots. Uber shares slid 8.9%. The Dow Jones index rose by 318 points or 0.9% to a record closing high. The S&P 500 index added 0.8% and the Nasdaq index lifted 50 points or 0.4%. 

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