- The Nasdaq rose 1% to close Wednesday?s session at 14,897.
- Facebook dropped following a Wall St Journal report criticising the company.
- Moderna jumped following several reports on COVID-19 vaccine efficiency.
The US markets rose on Wednesday after the Federal Reserve signalled it could taper back its easy money policy soon and raise interest rates as early as next year as broad economic recovery is inline with expectations.
The Dow Jones rose 1% to finish the trading day up 338 points to close at 34,258 points.
The tech heavy NASDAQ rose 1% to finish the trading day up 150 points to close at 14,897 points with Netflix and Tesla gaining 3.06% and 1.7% respectively.
One bitcoin is worth US$43,587 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 72.39 US cents.
Facebook shares dropped 4% on Wednesday after the Wall St Journal released a report critiquing the social media giant. Included in the report were points on Instagram?s negative effect on mental health, how Facebook is unable to prevent human traffickers, and how they failed Mark Zuckerberg?s plan in 2020 to use Facebook as a platform to encourage Americans to seek vaccination against COVID-19.
Biotech company Moderna jumped on Wednesday after several recent studies showed Moderna?s mRNA-1273 reportedly provides more durable, long-term protection against COVID-19 than Pfizer and BioNTech?s vaccine. The Centre for Disease Control and Prevention found that Pfizer?s vaccine dropped from 91% to 77% four months after the second dose was administered, compared to Moderna?s that was unchanged.
And a week after TikTok banned the ?Devious Licks? challenge where users filmed themselves stealing things from locations, namely schools, some teens have been arrested in the US for attempting to complete the challenge.