All three US stock markets finished lower on Wednesday, led down by the Dow Jones, which fell 0.6% as oil prices continued their retreat.
The S&P 500 and Nasdaq were stronger in comparison, both falling 0.3% as the technology sector benefitted from a weakening in bond yields.
Chinese leader Xi Jinping and President Biden are said to have discussed releasing oil stockpiles in order to reduce fuel prices that are impacting consumers directly.
Target sales surge
Shares in retailer Target (NYSE: TGT) fell close to 5% despite delivering a 50% increase in quarterly revenue on 2020 levels on a 13% increase in foot traffic at its stores. Online sales continued to surge, up 29% on the prior year.
Amazon bans Visa
Amazon (NASDAQ: AMZN) ended broadly flat after announcing it would no longer accept payments from Visa (NYSE: V) credit cards in the UK due to the high commission rates they charge.
Amazon customers will still be able to use Visa debit cards, Mastercard and Amex credit cards at checkout. Shares in Visa fell around 5% on the news.
US stock market movers
Here’s how other popular US stocks performed overnight.
- Roblox (NYSE: RBLX) up 7.3%
- Moderna (NASDAQ: MRNA) up 3.5%
- Tesla (NASDAQ: TSLA) up 3.3%
- Uber (NYSE: UBER) down 3.6%
- PayPal (NASDAQ: PYPL) down 4.4%
- Roku (NASDAQ: ROKU) down 11.3%
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is heading towards a flat open this morning.
Commonwealth Bank of Australia (ASX: CBA) shares will be on watch after tumbling 8% yesterday on the bank’s first-quarter report. To find out more, check out my ASX 200 morning report.
