- The Nasdaq fell 0.05% to close the midweek session at 15,122.
- Tesla rallied on record revenue and profit for the third quarter.
- PayPal tanked 4% following reports it is taking over Pinterest for US$70/share.
The US markets closed mixed on Wednesday as strong earnings reports continue being released in the US, with problems like labour shortages and increased costs of raw materials not impacting corporate profits too heavily.
The Dow Jones rose 0.43% to finish the trading day up 152 points to close at 35,609 points.
The tech heavy NASDAQ fell 0.05% to finish the trading day down 7 points to close at 15,122 points.
One bitcoin is worth US$66,012 going into the Asian trading day, a fresh record high for the world?s largest cryptocurrency which has been boosted by the successful launch of the world?s first Bitcoin futures ETF on Wall St this week.
The Australian dollar is firm against the major currencies and is buying 75.18 US cents.
Tesla shares rallied on Wednesday after the EV leader posted strong quarterly earnings including a third straight record quarterly profit. For the quarter, Tesla reported record revenue of US$13.76bn, just shy of the US$13.9bn estimates, EPS of US$1.86/share, above the expected US$1.67/share, and a record quarterly profit of US$1.6bn, well above the expected US$1.14bn.
PayPal shares tanked more than 4% on Wednesday following reports the fintech company is in late-stage talks to acquire social media platform Pinterest for around US$70/share. Pinterest shares soared 12% following the reports as the takeover bid values the creative social media platform at US$39bn.
And Elon Musk?s Boring Company has gained approval from Las Vegas officials to build a network of vehicle tunnels under the city allowing passengers to hitch rides in Teslas to and from casinos through the underground tunnels.