Skip to content
211208-thumbnail 2

Vir Biotechnology jumped 12% on trial results for its COVID-19 treatment showing effectiveness against the Omicron variant.

US markets rallied; Intel rose 3% on Mobileye IPO plans; Vir Biotechnology soared 12% on COVID-19 antibody treatment.

The Nasdaq rose 3% to close Tuesday’s session at 15,687 points.

Intel jumped 3% on news of its majority-owned subsidiary, Mobileye, planning an IPO.

Vir Biotechnology soared 12% on its treatment showing effectiveness against Omicron.

The US markets continued to rally on Tuesday as investors remain optimistic that the Omicron variant of COVID-19 will have less impact on economic recovery than initially feared. Bank stocks, which have been see-sawing with Omicron related news, were the big winners on Tuesday.

The Dow Jones rose 1.4% to finish the trading day up 492 points to close at 35,719 points.

The tech heavy NASDAQ rose 3% to finish the trading day up 462 points to close at 15,687 points with Tesla and Apple gaining 4.24% and 3.54% respectively.

One bitcoin is worth US$50,417 going into the Asian trading day.

The Australian dollar is firm against the major currencies and is buying 71.18 US cents.

US-based multinational semiconductor and technology company Intel jumped 3% on Tuesday as investors grew excited at the possibility of Intel’s self-driving technology subsidiary, Mobileye, eyes off an IPO. Intel plans to maintain majority ownership of Mobileye and intends to offer investors a chance to buy shares in Mobileye directly via the IPO planned for mid-2022.

Shares in Vir Biotechnology soared 12% on Tuesday after Vir and its partner GlaxoSmithKline announced that their COVID-19 antibody treatment proved effective against the Omicron variant of COVID-19 in lab studies. The data from the early-stage studies showed the treatment is effective against all 37 identified mutations of the spike protein in the coronavirus.

And eBay is introducing a new 3D interactive sneaker viewer allowing sellers to ‘scan’ their shoes to create a 3D replica for shoppers to get the full view of the shoes they are looking to buy.

See more stories like this

    Your Cart
    Your cart is emptyReturn to Shop
      Apply Coupon