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US markets rallied; Visa jumped 10.6% on Q1 results; Novavax rose 13.7% on Israel deal

  • The Nasdaq rose 3.1% to close Friday’s session at 13,771 points.
  • Visa jumped 10.6% surged 10.6% after reporting strong Q1 results.
  • Novavax popped 13.7% on Friday after announcing a supply deal with Israel.

The US markets ended a turbulent week on Wall St with a rally on Friday as the S&P500 snapped a three-week losing streak and the Nasdaq regained all of its losses of the week.

The Dow Jones rose 1.7% to finish the trading day up 565 points to close at 34,725 points.

The tech heavy NASDAQ rose 3.1% to finish the trading day up 418 points to close at 13,771 points with Apple and Google gaining 6.98% and 3.23% respectively.

One bitcoin is worth US$37,655 going into the Asian trading day.

The Australian dollar is stronger against the major currencies and is buying 69.97 US cents.

Shares in multinational financial services company Visa surged 10.6% on Friday after reporting first quarter earnings results. For the period, Visa reported revenue jumped 24% YoY to US$7.1bn, boosted by sustained growth in ecommerce and a rebound in travel. Visa also reported total payments volume rose 20%, the number of processed transactions increased 21% to 47.6bn, and Visa’s adjusted net income climbed 25% to US$3.96bn.

Novavax popped 13.7% on Friday after the biotech company announced it has signed a new supply agreement with Israel. The deal is an advance purchase agreement with Novavax and Israel’s Ministry of Health for 5 million doses of the company’s NVX-CoV2373 with the option for 5 million more. Novavax’s protein-based COVID-19 vaccine has been found to be effective against a number of the virus’ variants.

And after a number of music artists requested their music to be removed from Spotify over the ongoing Joe Rogan podcast controversy, Spotify has responded by saying it will label podcast episodes by Joe Rogan that discuss COVID-19.

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