Morning Report 1 Feb 22: ASX set for gains ahead of RBA decision

US sharemarkets were firmer on Monday. The consumer discretionary sector rose 3.8% while technology was up by 2.7%. In response to broker upgrades, shares in Tesla were up by 10.7% with Netflix up 11.1%. Investors await earnings this week from Alphabet (Google), Amazon and Meta Platforms (Facebook). At the close of trade the Dow Jones index was up 406 points or 1.2%. The S&P 500 index rose by 1.9%. And the Nasdaq index gained 469 points or 3.4%. Over the month the Dow fell by 3.3%; S&P fell by 5.3%; and the Nasdaq lost 9%.

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