All three US stock markets finished higher overnight, benefitting from another strong earnings result and some pause for thought ahead of inflation data on Friday.
The Nasdaq outperformed, gaining 1.3% as the bond yield continues to retreat from recent highs. The S&P 500 and Dow Jones delivered similar results, up 0.8% and 1.1%, respectively.
NVIDIA deal finished
Shares in semiconductor leader NVIDIA (NASDAQ: NVDA) were up 1% despite news that it would take a US$1 billion hit after announcing the deal to acquire competitor ARM Holdings from Softbank fell through due to regulatory concerns.
Harley Davidson
Harley Davidson (NYSE: HOG) was the latest to surprise investors, reporting an unexpected US$21 million profit on a 25% spike in revenue amid a surge in demand for electric-powered bikes. Harley Davidson shares jumped 15% on the news.
US trade deficit spikes
The US trade deficit widened more than expected in January to US$80 billion as a stronger US dollar resulted in a growth in demand for imports.
US stock market movers
Here’s how other popular US stocks performed on Tuesday.
- Peloton (NASDAQ: PTON) up 25.3%
- Alibaba (NYSE: BABA) up 6.2%
- American Express (NYSE: AXP) up 3.3%
- Meta (NASDAQ: FB) down 2.1%
- Spotify (NYSE: SPOT) down 3.3%
- Moderna (NASDAQ: MRNA) down 4.3%
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to follow US stock markets higher at the open this morning. For a round-up of the latest news, check out my ASX 200 morning report.
