US markets rallied; Sony rose 4.5% on Bungie acquisition; Boeing jumped 5% on Qatar Airways deal
- The Nasdaq rose 3.4% to close Monday’s session at 14,240 points.
- Sony lifted 4.5% after announcing it will acquire Bungie for US$3.6bn.
- Boeing jumped 5% after winning a US$34bn supply deal for Qatar Airways.
The US markets rallied for the last trading session of the month but posted losses across the key indices for January as investors grappled with concerns over higher interest rates in the very near future to address rising inflation.
The Dow Jones rose 1.2% to finish the trading day up 406 points to close at 35,132 points.
The tech heavy NASDAQ rose 3.4% to finish the trading day up 469 points to close at 14,240 points with Netflix and Tesla gaining 11.13% and 10.68% respectively.
One bitcoin is worth US$38,478 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 70.67 US cents.
Sony shares rose 4.51% on Monday after the Japanese multinational tech giant announced it is acquiring video game maker Bungie for US$3.6bn. Bungie is the original creator of Halo and the acquisition enhances Sony’s competitive advantage against Microsoft who recently announced its intentions to acquire Activision Blizzard as more tech giants expand their presence in the video game industry.
Shares in aircraft manufacturer Boeing jumped 5% yesterday after winning a supply deal worth US$34bn for Qatar Airways. The deal will see Qatar buy 34 of Boeing’s new 777X Freighter jets as well as at least 25 737 Max 10 Jets.
And the popular word-a-day guessing game Wordle that has gone viral around the world, has been bought by the New York Times for a price in the ‘low-seven figures’ according to the New York Times.
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