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Market up cake

US markets rose; Roku soared 18% on a new YouTube TV deal; GameStop fell after-hours on Q3 results.

  • The Nasdaq rose 0.6% to close the midweek session at 15,787 points.
  • Roku rose 18% after reaching a new long-term deal with Alphabet for YouTube TV.
  • GameStop shares plunged after-hours on widening losses in Q3.

The US markets posted slight gains on Wednesday as investors continued to shrug off fears that the Omicron COVID-19 variant will impact economic recovery.

The Dow Jones rose 0.099% to finish the trading day up 35 points to close at 35,755 points.

The tech heavy NASDAQ rose 0.6% to finish the trading day up 100 points to close at 15,787 points with Facebook and Tesla gaining 2.4% and 1.64% respectively.

One bitcoin is worth US$50,232 going into the Asian trading day.

The Australian dollar is stronger against the major currencies and is buying 71.67 US cents.

US-based streaming device manufacturing company Roku soared over 18% in its best session since 2019 after announcing it has reached a new long-term deal with Alphabet to keep the YouTube TV app on its streaming platform. The agreement reached came after months of negotiations and close to the deadline at the end of this month, avoiding a potential YouTube blackout.

Shares in GameStop plunged 4% after the closing bell following the release of the company’s Q3 results. For the period, the video game retailer reported net loss growth to US$105.4m from US$18.8m a year earlier, total revenue of US$1.30bn, up from US$1bn a year earlier, and inventory growth to US$1.14bn in anticipation of the busy holiday season and to avoid supply chain issues impacting sales.

And Oreo Thins has partnered with Barefoot Wines to create a small back of Barefoot x OREO THINS RED Blend Wine that includes rich flavours of chocolate and cookies and cream.

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