US equity markets closed out the holiday shorted week on a positive footing, with both the S&P500 and Nasdaq booking fresh record closing highs amid light trading volume - Dow rose +39-points or +0.13%. Walt Disney Co fell -1.3% after announcing it would lay off ~32K workers, up from the 28K announced previously. The job losses will come mainly from the company’s theme parks. The broader S&P500 +0.24% to 3,638.35, logging its 26th record close of the year. Nasdaq +0.92% to 12,205.85 and the technology centric index’s 45th record close of 2020. Tesla Inc gained +2.1% despite an AFP report, citing China’s market regulator, that the electric vehicle maker is recalling 870 cars in China because of a fault in the roofs that could cause a part to fall off. The latest gain saw Tesla usurp Warren Buffet’s investment vehicle Berkshire Hathaway Inc as the sixth largest US company my market capitalisation at ~US$555B. Berkshire Hathaway's assets – at US$829.9B - dwarf Tesla's at $45.7B. Zoom Video Communications Inc rallied +6.3% ahead of its fiscal third quarter result tonight AEST. The small capitalisation Russell 2000 index gained +0.56%.
