The S&P 500 was up 0.3 per cent in afternoon trading. It’s pulled back within 1 per cent of its record following a rough April. The Dow Jones was up 0.6 per cent in early afternoon trade and the Nasdaq composite was 0.2 per cent higher.The Australian sharemarket is set for a positive start, with futures at 4.50am AEST pointing to a rise of 8 points, or 0.1 per cent, at the open. The ASXA report showing a pickup in layoffs helped keep the market steady.
Equinix jumped 11.2 per cent after reporting stronger profit for the latest quarter than analysts expected. The company, which runs data centres around the world, also said that an independent investigation led by its board found no accounting inconsistencies or errors that would require financial restatements. An investment firm earlier had accused it of “major accounting manipulation.”
Airbnb sank 6.6 per cent despite also topping expectations for profit and revenue. It gave a forecasted range for revenue in the current quarter whose midpoint fell short of analysts’. It said an earlier Easter pulled more of its business this year into the first quarter from the second quarter. In the bond market, the yield on the 10-year Treasury edged down to 4.46 per cent from 4.50 per cent late Wednesday. The two-year yield, which more closely tracks expectations for the Fed, slipped to 4.81 per cent from 4.84 per cent late Wednesday.
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