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US markets rose; Oracle soared 15.6% on Q2 results; BioNTech tanked 9% on CDC report.

  • The Nasdaq rose 0.7% to close Friday?s session at 15,631 points.
  • Oracle surged 15.6% on second quarter results topping analysts? estimates.
  • BioNTech tanked 9% on CDC report showing Moderna vaccine preference.

The US markets rallied on Friday as US inflation data increased investor optimism that consumer prices are nearing a peak, up 0.8% in November and 6.8% over the last year, to its highest level since 1982. Price increases were seen across many sectors including food, housing, and gas.

The Dow Jones rose 0.60% to finish the trading day up 216 points to close at 35,971 points.

The tech heavy NASDAQ rose 0.7% to finish the trading day up 113 points to close at 15,631 points with Apple and Tesla gaining 2.8% and 1.32% respectively.

One bitcoin is worth US$50,275 going into the Asian trading day.

The Australian dollar is firm against the major currencies and is buying 71.69 US cents.

US-based computer tech giant Oracle surged 15.6% on Friday after posting second quarter results that beat expectations. For the period, Oracle reported a 6% rise in cloud services and licence support revenue to US$7.6bn, adjusted EPS of US$1.21/share, and US$10.36bn in revenue.

Shares in BioNTech tanked 9% on Friday after the Centres for Disease Control and Prevention published its Morbidity and Mortality Weekly Report on Friday showing that the Pfizer-BioNTech COVID-19 vaccine was less effective than Moderna?s vaccine in preventing hospitalisation among US veterans over an 8-month period.

And resort giant MGM Resorts is expanding staff training into the virtual world by rolling out virtual reality headsets for customer service roles at its employment centres to form part of staff training for new employees.