Morning Report 25 Feb 21: US sharemarkets climbed on Wednesday

US Fed Chair Jerome Powell reaffirmed his view that the US economy needs further support while calming concerns about inflation. S&P 500 financial sector stocks rose 2.0% to a record high. US regulators said Johnson & Johnson's (+1.3%) Covid-19 vaccine is safe and effective. Tesla shares lifted 6.2% after the Ark Invest fund bought US$171 million more shares. Boeing shares were up 8.1%. GameStop shares surged 103.9% after its CFO resigned. At the close of trade, the Dow Jones index was up by 424.5 points or 1.4% hitting a record closing high. The S&P 500 index lifted 1.1% and the Nasdaq index gained 133 points or 1.0%.  

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