US stocks closed mostly higher on Wednesday with the Dow gaining 0.62%, the S&P 500 gaining 0.25% while the Nasdaq 100 fell by 0.17% led by pharmaceutical and biotechnology company Moderna which plummeted by 15.64%.
The S&P 500 continues to climb to record highs, the tech-heavy Nasdaq 100 declined along with Amazon.com Inc.
The plunge in Moderna stock was also seen in Pfizer shares on the back of reports of rare side effects from the companies’ COVID-19 vaccines that use the mRNA method of jab production. According to media reports, the European Medicines Agency is looking into cases with allergic reactions.
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NYSE to require Covid vaccines for access to the trading floor
The New York Stock Exchange (NYSE) announced on Wednesday it will demand full Covid-19 vaccination for access to its iconic trading floor as of September 13.
The stock exchange added it will make exceptions for those that cannot receive a jab for medical or religious reasons. It will also set up various testing sites at its premises.
Employees and people visiting the exchange will show proof of vaccination.
eBay Financials
eBay Inc. has reported its earnings for the second quarter of 2021 with its revenuerising by 14% to $2.7 billion compared to the same period a year ago.
Net income fell by 57% year on year to $294 million. The company said that it had sold its eBay Korea business to Emart for $3 billion so the unit was reported as discontinued operations.
NIO Q2 Earnings
NYSE listed automaker NIO Inc. has reported its second-quarter financial results as total revenues rose by 127.2% to $1.3 billion compared to the same period in 2020. Vehicle sales increased 127% year on year to $1.2 billion as it delivered 21,896 vehicles during the period under review.
It reported a net loss of $90.9 million, a decrease of 50.1% from the second quarter of 2020.
Crypto Markets
The United States Senate on Monday this week rejected an amendment to the infrastructure bill which aims at limiting the scope of cryptocurrency regulation. The bill would require businesses to report crypto transactions if they are larger than $10,000, while the bipartisan amendment sought to limit the scope of the bill.
The amendment was blocked by independent Senator Bernie Sanders after it was endorsed by Treasury Secretary Janet Yellen.
Meanwhile, cryptocurrency exchange and derivative trading platform BitMEX said on Tuesday it had reached a settlement agreement worth $100 million with the United States Commodity Futures Trading Commission and Financial Crimes Enforcement Network (FinCEN) over the accusations it operated illegally and facilitated money laundering.
“As crypto matures and enters a new era, we to have evolved into the largest crypto derivates platform with a fully verified user base. Comprehensive user verification, robust compliance, and anti-money laundering capabilities […] are drivers of our long-term success,” BitMEX CEO Alexander Hoeptner said.
READ; US Stock Market closes higher Amid Earnings, infrastructure bill voting
