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US markets mixed; Affirm soared 13% on Q1 & Amazon news; Disney’s worst session in over a year.

  • The Nasdaq rose 0.5% on Thursday to close the session at 15,704.
  • Affirm shares soared 13.7% on Amazon deal expansion & Q1 results.
  • Disney shares tanked 7% on Q4 results including slowed subscriber growth.

The US markets closed mixed on Thursday as stocks regained ground across the S&P500 and Nasdaq following US-inflation data hitting a 30-year high for October, while Disney dragged down the Dow Jones.

The Dow Jones fell 0.44% to finish the trading day down 159 points to close at 35,921 points.

The tech heavy NASDAQ rose 0.5% to finish the trading day up 82 points to close at 15,704 points with Netflix and Google gaining 1.65% and 0.08% respectively.

One bitcoin is worth US$65,189 going into the Asian trading day.

The Australian dollar is stronger against the major currencies and is buying 72.92 US cents.

US-based BNPL giant Affirm soared 13.7% yesterday after releasing Q1 results and expanded its partnership with Amazon. Under the agreement with Amazon, Affirm will now stand as the sole third-party BNPL option for Amazon nationwide across the US. For the first quarter, Affirm reported active consumer growth of 124% to 8.7m and revenue of US$269.4m, well above analysts estimates of US$248.2m.

Disney shares tanked almost 7% on Thursday after the entertainment giant posted its most disappointing earnings report in 10-years. For the fourth-quarter, Disney missed analysts expectations on both top and bottom lines, reporting EPS of US37c/share, below the expected US51c/share, revenue of US$18.53bn, 2.1 million new Disney+ subscribers which fell well short of the expected 9.4 million, as the company said the subscriber growth segment has hit some headwinds.

And General Motors has announced plans to build a military vehicle prototype based on the upcoming Hummer EV.

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