Morning Report: US sharemarkets were mixed on Wednesday

By Tom Piotrowski | More Articles by Tom Piotrowski

Data signalled a sharp slowdown in US jobs growth, but services sector activity hit a record high. Sentiment was dented, however, after US Federal Reserve Vice Chair Richard Clarida said the “necessary conditions for raising the target range for the federal funds rate will have been met by 2022”-suggesting interest rates could rise in 2023. Shares of General Motors slid 8.9% after the automaker missed earnings expectations for the second quarter. The Dow Jones index fell by 324 points or 0.9%. The S&P 500 lost 0.5%. But the Nasdaq index rose by 19 points or 0.1%.