Morning Report 27 Jun 22: US sharemarkets recorded solid gains on Friday

US sharemarkets recorded solid gains on Friday. Banks rose 3.7% after all lenders passed the Federal Reserve stress tests. Shares in FedEx rose 7.2% after the parcel delivery company issued a stronger-than-expected full-year profit forecast. The Dow Jones index closed up by 823 points or 2.7%. The S&P 500 index added 3.1% and the Nasdaq index gained 375 points or 3.3%. Over the week the Dow rose by 5.4%; S&P 500 rose 6.4%; and the Nasdaq rose 7.5%.

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