Morning Report 20 Jul 22: US sharemarkets lifted by 2-3% on Tuesday

More companies reported better-than-expected earnings. After issuing quarterly reports, shares in toy company Hasbro rose 0.7% and oilfield services  provider Haliburton rose 2.1%. But despite better earnings, shares in Johnson & Johnson fell 1.5% with IBM down 5.2%. In this earnings season, analysts expect aggregate year-on-year S&P 500 profit to grow 5.8%, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data. Shares in Boeing rose 5.7% on plans by private equity firm 777 Partners to buy up to 66 more Boeing 737 MAX jets. The Dow Jones index rose by 754 points or 2.4% and the S&P 500 index rose 2.8%. And the Nasdaq index rose by 353 points or 3.1%.

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