Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

US stock market morning report – AAPL, GOOGL & JPM stock rise on tax hike

Overnight, it was another mostly flat day for US stock markets. However, the local ASX 200 (ASX: XJO) is expected to rise.

The S&P 500 (INX) increased modestly, up 0.15%, and the Nasdaq 100 rose 0.3%.

A rally in the likes of Apple (NASDAQ: AAPL) stock and Alphabet (NASDAQ: GOOGL) stock drove the market with retailers and financials also doing well.

S&P 500 (INX) – 5 years

inx index

The US Federal Reserve continues to reiterate its willingness to extend Quantitative Easing and other support programs, confirming they will be in place for ‘some time’ even as the economy recovers.

Costings of the planned US tax hike from 21% to 28% were also outlined. They aim to fund the massive infrastructure spending program by raising US$2.5 trillion over fifteen years. The news isn’t expected to impact too many companies, in fact, the true focus is on bringing overseas income back to the US.

Investment bank JP Morgan (NYSE: JPM) rallied 1.7% after CEO Jamie Dimon released his annual shareholder letter, stating:

“I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the US economy will likely boom”.

Let’s hope he is right!

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.


At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned

Powered by

Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

Skip to content