- ASX200 is down 0.62% in morning trade to 6782.50.
- Elon Musk warns customers about when to buy Tesla models.
- PayPal reports strongest year on record during the pandemic.
The tech sector is the only index in the green this morning, up just 0.02% with ZipCo and Afterpay both 3.18% and 1.70% higher respectively.
The Australian market is 0.62% lower at 6782.50 in morning trade, with the miners weighing the market down. Origin Energy and AGL Energy are leading the decline on the back of lower earnings and write-offs.
Bitcoin?s bull-run continues as the world?s largest cryptocurrency tops US$38,000 this morning. Ethereum is also surging with growth over 11% in the last 24-hours. It peaked at a new record US$1696.53 earlier today.
Tesla CEO Elon Musk has warned potential customers to purchase the models when they are first released or once production has steadied. He noted that a ramp up in production to cater for growing demand has led to a large number of faulty models and poor quality of the vehicles being sold.
In the headlines, online payment giant PayPal has reported its best year on record for fiscal 2020 with a 39% increase in Q4 from the previous year to US$277bn as the pandemic drove online sales growth.
PayPal also reported further details on its venture into cryptocurrency as CEO Dan Schulman said the company has designed an extensive product roadmap around crypto, blockchain and digital currencies.
Amazon has added a number of new useful and gimmick features to Alexa that include notifying users of the closest COVID-19 testing site, and a new custom alarm tone of a million minions chattering to wake you up in the morning.