- The Nasdaq closed 0.2% higher to a record 14,733 on Monday.
- Moderna shares surged on Johnson & Johnson autoimmune link.
- Virgin Galactic shares surge then plummet on US$500m share sale news.
The US markets started the week at a fresh set of record highs across the key indices as big banks posted notable gains ahead of reporting earnings this week. Investors are expecting strong Q2 results among the financial companies reporting this week.
The Dow Jones rose 0.36% to finish the trading day up 126 points to close at 34,996 points.
The tech heavy NASDAQ rose 0.2% to finish the trading day up 31 points to close at 14,733 points with Tesla and Google gaining 4.38% and 0.76% respectively.
One bitcoin is worth US$33,114 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 74.77 US cents.
US-based biotech company Moderna rallied 3% on Monday after the FDA reported links between a rare autoimmune condition and the Johnson & Johnson COVID-19 vaccine. Around 100 cases of Guillain-Barre syndrome have been reported among the 12 million people who have received the J&J vaccine. The news boosted Moderna shares as no similar link has been found as a result of Moderna?s COVID jab.
After Sir Richard Branson and a crew successfully made the first crewed test flight to the edge of space on the weekend, shares in Virgin Galactic first surged on the news before plunging more than 17% yesterday after the company announced plans to sell US$500m worth of stock. Investors sold off shares in disappointment of the prospect of their shares being diluted in the new share sale announcement.
And Elon Musk has purchased a ticket to ride on a future Virgin Galactic space flight despite his own SpaceX rocket being in the works to offer a similar experience in the future.