Morning Report 11 Jan 22: US stocks recover from early weakness as investors keep a wary eye on interest rates

US sharemarkets were mixed on Monday. Consumer discretionary fell 0.6% although healthcare stocks rose 1%. Technology stocks recovered from lows in the last hour of trade. Shares in Tesla rose 3.0%. On Friday Chief Executive Elon Musk tweeted that the electric carmaker will raise the US price of its advanced driver assistant software. At the close of trade the Dow Jones index was down by 163 points or 0.5%. The S&P 500 index fell by 0.1%. But the Nasdaq index lifted by 7 points or 0.1% after being down 405 points or 2.7%. US treasuries ended mixed on Monday. Fears about the potential for the Federal Reserve to lift rates dominate. Goldman Sachs, J.P. Morgan and Deutsche Bank all expect the Fed to lift rates four times this year. US 10-year yields were broadly flat near 1.76%.

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