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US stock market report – inflation & Roblox in focus

The obsessive focus on the threat of inflation continues to drive markets, with the Dow Jones tumbling 476 points, or 1.4%, dragged lower by the energy, financial and industrial sectors.

This marked the second straight day of losses but the Nasdaq was able to recover to be down just 0.1% as buyers emerged.

The selloff came after ex-New York Fed Chair William Dudley suggested higher short-term rates would be required far sooner than expected.

As highlight previously, sustained inflation will require the economy to be nearing productive capacity, rather than just the flow through of price increases as pandemic-era supply chains begin to recover.

Tesla retreats

Tesla (NASDAQ: TSLA) fell 1.9% after reporting a fall in April car sales in China, which were down 27% compared to March, reaching just 25,845 as domestic players continued to gain market share.

Roblox charges higher

In more positive news, video game developer Roblox (NYSE: RBLX) soared 21.3% as investors cheered the company’s first-quarter results. Quarterly revenue surged 140% to US$387 million, while daily active users came in at 43.3 million, up 37% from April of last year.

US stock market movers

Here’s how other popular US stocks fared on Tuesday.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to open lower on Wednesday. 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.

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.

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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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