US stock markets continued their record run with the Nasdaq once again taking the mantle, gaining 0.8% overnight.
The Dow Jones weakened another 0.1% after unit labour costs were seen moving 8% higher in September due to a fall in productivity; the S&P 500 gained 0.4%.
NVIDIA’s massive day, Moderna misses
The highlight by far was NVIDIA (NASDAQ: NVDA) with the seventh biggest company in the world gaining over 11%, the largest such gain in nearly two years, after analysts highlighted its role in powering the metaverse that is now the focus of Facebook (NASDAQ: FB).
Shares in Moderna (NASDAQ: MRNA) weakened by nearly 19% despite revenue jumping from US$157 million to US$4.9 billion this year with analysts expecting significantly higher sales of their COVID-19 vaccine.
Shares in smartphone chipmaker Qualcomm (NASDAQ: QCOM) also gained more than 12% after reporting a 50% increase in sales for the quarter despite facing a lack of supply, suggesting it is running down inventories.
On a positive note, the UK central bank held off on increasing its cash rate despite growing pressure from market commentators.
US stock market movers
These US stocks were some of the biggest movers on Thursday.
- Opendoor (NASDAQ: OPEN) up 14.8%
- Etsy (NASDAQ: ETSY) up 13.2%
- 10x Genomics (NASDAQ: TXG) up 11.2%
- Roku (NASDAQ: ROKU) down 7.7%
- Lightspeed (NASDAQ: LSPD) down 27.9%
- Vimeo (NASDAQ: VMEO) down 30.1%
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to follow this positive lead from US markets to open higher on Friday. For a round-up of the latest news, check out my ASX 200 stock market report.