Morning Report 17 Apr 23: US sharemarkets fell by around 0.4% on Friday

Investors booked profits at the end of the week. US bank earnings beat market expectations. And economic data was mixed. After releasing earnings, shares in Citigroup rose 4.8%; JP Morgan Chase rose 7.6%; but Wells Fargo eased 0.1%. Seven of the 11 S&P 500 sectors ended lower led by real estate. Financial markets have priced in a 74% chance of a rate hike at the next meeting on May 2-3. The Dow Jones index fell by 143 points or 0.4%. The S&P 500 index fell by 0.2%. And the Nasdaq index lost 43 points or 0.4%. Over the week the Dow rose 1.2%; the S&P 500 rose 0.8%; and the Nasdaq lifted 0.3%.

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