Morning Report 18 Nov 22: US sharemarkets were weaker

US sharemarkets were weaker on Thursday. St Louis Federal Reserve president James Bullard indicated that interest rates would need to go higher by at least 1 percentage point. On a positive note Reuters reported that "Department store chain Macy's gained 15% and personal care products retailer Bath & Body Works surged 25.2% after the companies raised their annual profit forecasts." At the close, the Dow Jones index was down by 7.5 points or less than 0.1% after trading in a 376 point range. The S&P 500 index fell by 0.3%. The Nasdaq index was down by 39 points or 0.4%.

 

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