- The Nasdaq rose 1.3% to close Tuesday?s session at 14,434.
- Netflix rallied 5% to a record high share price on ?Squid Game? success.
- Square rose 4% on Gen Z study indicating popularity among young consumers.
The US markets recovered from Monday?s tech-led sell-off, to close higher on Tuesday despite investors remaining concerned over inflation, the continued impact of COVID-19 on the economy and when the Feds will begin tightening its easy money policy.
The Dow Jones rose 0.92% to finish the trading day up 312 points to close at 34,315 points.
The tech heavy NASDAQ rose 1.3% to finish the trading day up 178 points to close at 14,434 points with Netflix and Google gaining 5.21% and 1.8% respectively.
One bitcoin is worth US$51,595 going into the Asian trading day.
The Australian dollar is firm against the major currencies and is buying 72.87 US cents.
Netflix shares rallied 5.21% to a record high close of US$634.81/share on Tuesday as the streaming giant rides on the success of its new series ?Squid Game?. Netflix also benefited from a Q3 survey of 2500 US consumers by Cowen & Co. where 28% of the recipients voted Nteflix as the best streaming platform for content right now.
Fintech company Square rose 4% yesterday after a study with Gen Z consumers called ?Taking Stock with Teens? found that Square?s Cash App is the number 2 mobile payment app for young consumers, just behind PayPal?s Venmo. The study also found that Square?s recently acquired Afterpay is the number 2 app for the BNPL sector among young users.
And Snapchat has introduced a new tool called ?Run for Office? encouraging more young Americans to get involved in politics, through curating more than 75,000 local and state elected positions into the app for users to directly browse.