- The Nasdaq closed Tuesday?s session 0.92% lower at 13,786.
- Netflix slumps on sharply lower Q1 subscriber growth.
- United Airlines plunged on US$1.4bn first quarter loss.
The US markets closed lower again on Tuesday as airlines posted big losses following weaker than expected quarterly results.
The Dow Jones fell 0.75% to finish the trading day down 256 points to close at 33,821 points.
The tech heavy NASDAQ fell 0.92% to finish the trading day down 129 points to close at 13,786 points. Tesla rebounded from Monday?s nosedive to trade 3% higher on Tuesday as Mizuho Securities analyst boosted its price target of the EV giant.
One bitcoin is worth US$56,465 going into the Asian trading day, gaining 1% in the last 24-hours. PayPal?s Venmo has become the latest financial service provider to begin allowing users to buy and sell crypto.
The Australian dollar is stronger against the major currencies and is buying 77.25 US cents.
Streaming giant Netflix took a hit on Tuesday after sharply missing quarterly targets for subscriber growth. The streaming service added just 3.98 million subscribers for Q1, missing Wall Street estimates of 6.29 million, and its own forecast of 6 million.
United Airlines shares plummeted 8.53% on Tuesday after posting a US$1.4bn first quarter loss, its fifth consecutive quarterly loss. The airline also reported long-haul and business travel demand is still 80% below 2019 or pre-pandemic levels.
And Amazon is experimenting in the UK by opening a hair salon in London aiming to be a supplier of new products and technology including AR style-testing tools.