Morning Report 9 Aug 22: US sharemarkets were choppy on Monday
AUG 08, 2022
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Investors digested news that the US$430 billion Inflation Reduction Act had passed the Senate. Automakers rose 3-4% in response to the news with shares in Ford up 3.1% and General Motors up 4.2%. The Information Technology sector lagged. Chipmaker Nvidia Corp slid 6.3% as the company said it expects second-quarter revenue to decline 19% from the prior quarter due to weakness in gaming. The Dow Jones index rose by 29 points or 0.2% after being up 306 points. The S&P 500 index fell by 0.1% and the Nasdaq index fell by 13 points or 0.1%.


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