A contraction in business activity in the US raised investors’ hopes for a less aggressive approach to monetary policy by the US Federal Reserve. HCA Healthcare shares jumped 7% after reporting strong third-quarter results on Friday. But gains in the tech-heavy Nasdaq were capped as Tesla shares fell 1.5% after the electric carmaker cut the price of its Model 3 and Model Y vehicles in China. And shares of some U.S.-listed Chinese companies fell after Beijing tightened its grip on President Xi Jinping’s power. Alibaba shares fell 12.5%, JD.com shares fell 13% and Baidu shares fell 12.6%. The Dow Jones index rose by 417 points, or by 1.3%. The S&P 500 added 1.2%, while the Nasdaq gained 93 points, or 0.9%. https://www.heraldsun.com.au/business/morning-report-25-oct-22-us-sharemarkets-advanced-on-monday/video/fe94c861826abdda052c12f0ad0949fb
