Morning Report 9 Nov 21: US sharemarkets hit record highs on infrastructure bill but Tesla weighs

<p class="p1">US sharemarkets were at fresh record highs on Monday with the passing of the US$1 trillion infrastructure bill by Congress positive for industrials, materials and energy sectors. Shares in Tesla fell 4.9% on plans by Chief Executive Officer, Elon Musk, to sell 10% of its stock. Shares in Advanced Micro Devices rose 10.1% after announcing new computer chips in order to compete with rival, Nvidia. AMD also said it had won Meta Platforms Inc (Facebook) as a data centre chip customer. At the close of trade the Dow Jones index was up by 104 points or 0.3%. The S&P 500 index was up 0.1%. And the Nasdaq index was up by 11 points or 0.1%.</p> <p class="p1">This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (the Bank), and a market participant of ASX Limited and CHI-X Pty Limited, a clearing participant of ASX Clear Pty Limited and a settlement participant of ASX Settlement Pty Limited. Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing.  We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the Bank nor any of its subsidiaries acc