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US stock market report: Pfizer jumps on global vaccine rollout, tech stocks tumble

The Dow Jones added another 200 points to begin the week, jumping 0.7% as commodities and industrials benefitted from a pivot towards the reopening trade.

This comes after New York legislators announced the city would fully re-open from 1 July, with more than 40% of the US population having now been vaccinated.

The Nasdaq weakened by 0.5% with Amazon (NASDAQ: AMZN) and Tesla (NASDAQ: TSLA) pushing the technology index lower, down 2.3% and 3.5%, respectively.

A survey of materials prices hit the highest level since 2008 as further confirmation that inflation is already here.

Pfizer to begin exports

Shares in COVID-19 vaccine manufacturer Pfizer (NYSE: PFE) jumped 3.1% after receiving approval to begin exporting its successful vaccine.

Mexico and Canada will be the first in the world outside of the US Government to receive exports of the domestically-made shots, with the US finally coming to the party.

Estee Lauder disappoints

Cosmetics group Estee Lauder (NYSE: EL) fell 7.9% after it failed to live up to high expectations, as sales jumped just 16% in the quarter.

US stock market movers

Here’s how other popular US stocks fared overnight, with high-growth tech stocks, in particular, feeling the brunt of the volatility.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to climb when the market opens on Tuesday. For all the latest, check out Rask Media’s ASX 200 morning report.

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

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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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