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US stock market report: Alibaba shares soar, Microsoft makes $20 billion acquisition

US stock markets finished lower across the board on Monday as the slow start to the second quarter continued. The S&P 500 ended flat with the Nasdaq falling 0.4% and the Dow Jones down 0.2%.

This week sees another quarter of reporting season, but the news overnight was more company-specific.

Alibaba shakes off record fine

E-commerce giant Alibaba (NYSE: BABA) shares finished 9.1% higher after the Chinese regulator announced a US$2.8 billion fine for antitrust or anti-competitive activities.

This stands out as one of the largest fines in the world, with management nearly thanking the regulator for effectively rubber-stamping their business.

Microsoft doubles down in healthcare

Microsoft (NASDAQ: MSFT) announced an expansion into healthcare, buying ‘conversational artificial intelligence leader’ Nuance (NASDAQ: NUAN) for US$56 per share, implying a 20% premium to Nuance’s last closing price. If completed, the all-cash transaction will be valued at US$19.6 billion.

Nuance’s operations focus on delivering more efficient clinical services by leveraging the Microsoft Cloud. Nuance solutions are currently used by more than 55% of physicians and 75% of radiologists in the US, while also being used in 77% of US hospitals.

NVIDIA powers ahead

Intel (NASDAQ: INTC) is facing more pressure from global chip leader NVIDIA (NASDAQ: NVDA), who announced they were pushing into the supply of microprocessors, which have been the core of Intel’s dominance.

At its annual investor day, NVIDIA also revealed its first-quarter revenue for fiscal 2022 is tracking above the US$5.3 billion guidance. “We are experiencing broad-based strength, with all our market platforms driving upside to our initial outlook,” said Colette Kress, executive vice president and chief financial officer of NVIDIA.

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.

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Disclosure: At the time of publishing, Drew owns shares in Alibaba.

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

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