Morning Report 2 Sep 22: US sharemarkets closed mostly higher Thursday

The Dow Jones index recovered from a 290 point drop earlier in the session, as traders weighed the potential for high interest rates against robust US factory and jobs data. Defensive health care companies led gains with Merck shares up 2.1% and Johnson & Johnson shares 2.5% higher. But shares of Nvidia (-7.7%) and Advanced Micro Devices (-3.0%) dropped after the US imposed an export ban on some major artificial intelligence chips to China. At the close of trade, the Dow Jones index rose by 146 points or 0.5%. And the S&P 500 index gained 0.3%, but the Nasdaq index lost 31 points or 0.3%

 

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