- The Nasdaq closed 0.04% lower at 15,259 on Tuesday.
- Zoom shares plunged 16.69% despite topping estimates for Q2 results.
- Wells Fargo plunged on reports of slow payments to victims of scandals.
The US markets closed lower on Tuesday but each of the three key indices posted a gain for the month of August as investor confidence was boosted by strong corporate earnings results and the Fed reaffirming it won?t taper back its bond buying program until later this year.
The Dow Jones fell 0.11% to finish the trading day down 56 points to close at 35,361 points .
The tech heavy NASDAQ fell 0.04% to finish the trading day down 7 points to close at 15,259 points
One bitcoin is worth US$47,275 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 73.19 US cents.
Shares in Zoom plummeted 16.69% on Tuesday despite the pandemic-favourite reporting second-quarter results that topped expectations. Investors sold out of Zoom shares amid the analysts pointing out the company?s diminishing growth potential as employees return to offices post-pandemic. For the quarter, Zoom reported revenue of US$1bn, up 54% YoY.
US financial services provider Wells Fargo plunged more than 5% yesterday after Bloomberg reported the company is not sending restitution payments to victims of various scandals fast enough, and regulators are also allegedly unimpressed with the progress the company has made to change its culture.
And researchers in a lab at Rice University recently unveiled a new carbon nanotube fibre for weaving into clothing items for smart monitoring of vital elements during exercise like blood pressure and heart rate.