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US markets rallied; Boeing lifted 5.86% on a new UPS agreement; AMC popped 5% on Spider-Man success.

  • The Nasdaq rose 2.4% on Tuesday to close at 15,341 points.
  • Boeing shares lifted 5.86% on a new multi-year agreement with UPS.
  • AMC shares popped 5% as Spider-Man box-office soared past expectations.

The US markets rebounded from three straight sessions of losses to close higher on Tuesday as the see-saw of investors’ response to the Omicron variant of COVID-19 continues. Investors’ fears that the Omicron variant of the coronavirus will derail global economic recovery and enhance global supply chain issues are weighed against sentiment that vaccine booster shots are showing promising protection against the new variant.

The Dow Jones rose 1.6% to finish the trading day up 561 points to close at 35,493 points.

The tech heavy NASDAQ rose 2.4% to finish the trading day up 360 points to close at 15,341 points with Tesla and Amazon gaining 4.29% and 2% respectively.

One bitcoin is worth US$49,316 going into the Asian trading day, bouncing back from lows around US$46,000 at the start of the week as Block CEO Jack Dorsey said Bitcoin will eventually replace the US dollar.

The Australian dollar is stronger against the major currencies and is buying 71.5 US cents.

Shares in aircraft manufacturer Boeing jumped 5.86% on Tuesday after announcing it has signed a multi-year agreement with United Parcel Service (UPS) to sell UPS 19 of its model 767 air freighters ‘to ensure a modern, efficient fleet’. Despite no price details being disclosed, the deal is likely to bring in around US$4.2bn for Boeing as each 767 air freighter costs US$220.3m.

AMC entertainment shares popped 5% during Tuesday’s session as the latest film from the Spider-Man franchise soared past box-office estimates with a US$260m opening weekend. The movie’s debut produced AMC’s biggest December opening night ever with 1.1 million people piling into AMC cinemas to watch the film.

And Under Armour is lifting its sneaker game through the launch of its new UA Flow Velociti Wind 2 sneakers, featuring embedded sensors that pair with the Map My Running app to give users’ real-time form coaching on their running style based on pace, stride and cadence.

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