Morning Report 5 Apr 22: ASX set to follow Wall St higher ahead of RBA decision

US sharemarkets advanced on Monday. Indexes were boosted by megacap tech and growth stocks and a surge in Twitter (+27.1%) after Elon Musk revealed a stake in the company, making him its largest shareholder. Tesla shares rose 5.6% after the company on Saturday reported record electric vehicle deliveries for the first quarter. Shares of Apple (+2.4%), Amazon (+2.9%), Nvidia (+2.4%) and Microsoft (+1.8%) were all higher. But shares of Starbucks dipped 3.7% after the coffee chain suspended its share repurchase program. At the close of trade, the Dow Jones index rose by 104 points or 0.3% after being down 203 points at session lows. The S&P 500 index added 0.8% and the Nasdaq index gained 271 points or 1.9%.

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