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US markets green; Uber rose 6% on Q4 results; Disney jumped 6.6% after-hours on Q1 results

  • The Nasdaq rose 2.1% to close Wednesday’s session at 14,490 points.
  • Uber shares jumped 6% after-hours on Q4 results including food delivery profit.
  • Disney rose 6.6% after-hours following record results in the first quarter.

The US markets extended a rally into Wednesday as a pull-back in Treasury yields sparked a surge in tech stocks.

The Dow Jones rose 0.9% to finish the trading day up 305 points to close at 35,768 points.

The tech heavy NASDAQ rose 2.1% to finish the trading day up 296 points to close at 14,490 points with Facebook and Google gaining 5.37% and 1.61% respectively.

One bitcoin is worth US$44,546 going into the Asian trading day.

The Australian dollar is firm against the major currencies and is buying 71.79 US cents.

Rideshare and food delivery giant Uber rallied 5.8% in after-hours trade following the release of the company’s fourth-quarter results including a profit turnover for its food delivery segment. For the period, Uber reported EPS of US$0.44/share, revenue of US$5.78bn, net income of US$892m, and gross delivery bookings rose 34% YoY to US$13.4bn. Uber said continued recovery in the rides business and continued demand for food delivery despite restaurants reopening, supported the strong results.

Shares in entertainment and theme park giant Disney rose 6.6% in after-hours trade following the release of first quarter results. For the period, Disney reported record theme-park profit and record revenue of US$21.82bn well above analysts’ expectations, the addition of 12 million subscribers to its Disney+ platform and EPS of US$1.06/share, almost double that of market expectations.

And Hyundai and Kia have issued a note to the owners of 500,000 vehicles in the US, telling them to park the cars outside and away from buildings due to engine fire risk caused by ‘foreign contaminants’ in the anti-lock brake computer module that can short-circuit at any time even when turned off.

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