US stock markets continued a strong start to the post-Easter week with quarterly earnings season dominating investment flows.
Another 5% fall in the oil price, which remains above $US100 per barrel, was enough to trigger a 1.5% jump in the Dow Jones, a 1.6% gain in the S&P 500 and a 2.2% rally in the Nasdaq.
Transport surges
Yet the standout by far came from the transport sector, which added close to 3% as a combination of airlines, car hire and other related companies surged on signs that demand for travel is higher than ever.
Housing starts also improved, up 0.3%, despite concerns about higher construction and material costs.
Netflix whacked, Johnson & Johnson reports
Johnson & Johnson (NYSE: JNJ) shares gained more than 3%, overcoming a 15% fall in profit and 11% fall in revenue, with pharmaceutical and vaccine sales the highlight.
Netflix (NASDAQ: NFLX) shares were down heavily in after-hours trading, falling close to 20% after the company reported it had lost 200,000 subscribers for the first time. This came after price increases in the US and Canada, and caps off a very difficult period.
Twitter, Musk bout continues
Twitter’s (NYSE: TWTR) board have effectively forced Elon Musk to convince them of the value of his deal, with Twitter shares falling 4.7% after Apollo Global flagged the potential to lend to any potential buyer of the company. This would be a rare ‘take private’ for a technology company.
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to follow this positive lead from US stock markets to open higher on Wednesday. For a round-up of the latest news, check out my ASX 200 morning report.
