- The Nasdaq fell 0.38% to close Monday?s session at 13,379.
- AT&T to spinoff WarnerMedia to Discovery in a merger deal worth US$43bn.
- Monday.com filed to go public on Wall Street amid surging revenue growth.
The US markets started the week lower as investors' concerns over inflation rose again, with tech and communications stocks the worst hit for the session.
The Dow Jones fell 0.16% to finish the trading day down 54 points to close at 34,328 points.
The tech heavy NASDAQ fell 0.38% to finish the trading day down 51 points to close at 13,379 points.
One bitcoin is worth US$43,698 going into the Asian trading day.
The Australian dollar is firm against the major currencies and is buying 77.73 US cents.
US-based Telecom company AT&T announced it is spinning off its WarnerMedia division in a merger deal with Discovery worth US$43bn. The merger will see Warner?s film division and Discovery+ streaming service better placed to compete with Netflix and other streaming giants. Under the deal AT&T will receive US$43bn whilst retaining 71% of the new company.
Communications and corporate software company Monday.com has filed to go public on Wall Street following strong revenue growth of 106% from US$78.1m in 2019 to US$ 161.1m in 2020. Quarterly revenue grew 85% from US$31.9m in Q1 2020 to US$59m in Q1 2021. The Israeli-based software company has filed for an estimated US$500m IPO.
And Amazon has taken action to reduce employee injury rate at its automated facilities by introducing a ?WorkingWell? program, which includes physical and mental wellness activities, wellness exercises and eating support.