Morning Report 11 May 22: US sharemarkets were mixed on Tuesday

Traders assessed comments from several US Federal Reserve speakers including Cleveland Federal Reserve President Loretta Mester who said, "we don't rule out 75 [basis point rate hikes] forever." Shares of Apple rose by 1.6%, boosting the S&P 500 and Nasdaq indexes. Tesla shares were also up 1.6%. But IBM shares slipped 4%. Peloton shares tumbled 8.7% after its CEO said the fitness equipment maker was "thinly capitalised."  The Dow Jones index closed down by 85 points or 0.3% after being up 506 points earlier in the session. But the S&P 500 index rose by 0.3% and the Nasdaq index added 114 points or 1%.

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