Morning Report: US sharemarkets edged higher on Tuesday

Investors weighed rising bond yields against a potential US economic recovery and Covid-19 vaccine roll out. Shares of interest rate-sensitive banks Goldman Sachs (+2.9%) and JPMorgan Chase (+1.6%) both lifted. General Motors (+6.2%) shares jumped after launching an electric delivery vehicle business. Tesla shares lifted 4.7% after registering a company in India. Shares of Uber (+7.2%) hit record highs and online retailer Etsy’s shares soared 12.1%. But the move higher in shares was capped by a decline in big tech names. Facebook (-2.2%), Netflix (-1.0%), Alphabet (-1.1%), Apple (-0.1%) and Microsoft (-1.2%) shares all fell. At the close of trade, the Dow Jones index was up by 60 points or 0.2%. The S&P 500 index rose by just 1.6 points. And the Nasdaq index gained 36 points or 0.3%.