US: Tech shares lead stocks higher, Nasdaq +2.1%

"She has never been particularly anti-business. She's not Elizabeth Warren."

There was no movement on stimulus talks in Washington as US Treasury Secretary Steven Mnuchin accused Democratic leaders in Congress of playing politics, while House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer countered that the Trump administration had refused to budge on the size of the package after Democrats slashed their offer.

Large tech companies including Apple, Facebook and Netflix all won solid gains, while Tesla surged 13.1 per cent after announcing a five-for-one stocks split, a move that could make it easier for small shareholders to acquire shares. Moderna gained 0.7 per cent after announcing it reached a deal worth up to US$1.5 billion to deliver coronavirus vaccine, the latest in a series of announcements by pharmaceutial companies. The vaccine candidates are still under development and await regulatory approval.

Uber Technologies fell 1.2 per cent after the company said it could temporarily idle operations in its home state of California following a court ruling requiring it to classify drivers as employees.BT is now on Telegram!

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