US stock markets once again finished at all-time highs ahead of some 150 of the S&P 500 companies reporting this week.
The Dow Jones underperformed, gaining 0.2%, with consumer discretionary and materials shares the biggest beneficiaries, sending the S&P 500 and Nasdaq up 0.5% and 0.9%, respectively.
As has been the case for several years, it now appears a tax targeted at billionaires and large corporations may now have the support of Congress, with policy earmarked to support Biden’s ambitious climate and social package.
Tesla share price soars, PayPal steps back from Pinterest deal
Shares in Tesla (NASDAQ: TSLA) gained over 12% after hire company Hertz (PA: HTZ) announced plans to purchase 100,000 Model 3 cars from the company.
Meanwhile, PayPal (NASDAQ: PYPL) also gained 3% after announcing it would not be proceeding with the offer for Pinterest (NYSE: PINS). While the market sent PayPal shares higher on the news, the Pinterest share price tumbled nearly 13%.
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US stock market movers
Here’s how other popular US stocks moved overnight.
- Coinbase (NASDAQ: COIN) up 8.2%
- Moderna (NASDAQ: MRNA) up 7.1%
- Square (NYSE: SQ) up 3.5%
- Baidu (NASDAQ: BIDU) down 1.2%
- American Express (NYSE: AXP) down 2.6%
- Trip.com (NASDAQ: TCOM) down 4.4%
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to follow this positive lead from US markets to open higher on Tuesday. For all the latest, check out my ASX 200 morning report.
