US markets mixed; Amazon soared on Q4 results; Ford fell on Q4 results
- The Nasdaq rose 1.6% to close Friday’s session at 14,098 points.
- Amazon soared 13.5% on its profit almost doubling in the fourth quarter.
- Ford fell 9.7% on fourth quarter results falling short of estimates.
The US markets ended a choppy week mixed across the three key indices as investors digested varying quarterly results from big tech companies.
The Dow Jones fell 0.06% to finish the trading day down 21 points to close at 35,090 points.
The tech heavy NASDAQ rose 1.6% to finish the trading day up 219 points to close at 14,098 points with Amazon and Tesla gaining 13.54% and 3.61% respectively.
One bitcoin is worth US$41,626 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 70.85 US cents.
Amazon shares jumped 13.54% on Friday, adding around US$191bn to the ecommerce company’s market capitalization which is the largest ever one-day gain in market value by any US company. Amazon’s shares rose a day after the company said its profit nearly doubled last quarter and on news that Amazon has approached Peloton about a potential takeover deal.
Shares in automaking giant Ford fell 9.7% on Friday after the company released fourth quarter earnings results that fell short of market expectations. For the period, Ford reported adjusted EPS of US$0.26/share, almost half that of market expectations, and automotive revenue came in at US$35.3bn compared to the US$35.5bn expected. The automaking giant did however issue a bullish estimate for FY22 with predictions of earnings between US$11.5bn and US$12.5bn in adjusted pretax profits.
And Michigan’s governor Gretchen Whitmer has announced that Michigan is planning to install America’s first in-road wireless charging system for electric vehicles by 2023.
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