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US stock market sell-off halted as value rotation continues

The three-day sell-off in US stock markets over inflation fears appears to have come to an end, with the Dow Jones and S&P 500 both gaining 1.3% and the Nasdaq climbing 0.7% as investors rotated back into ‘value’ names including industrials, financials and utilities companies.

These companies are expected to benefit from a full reopening of the US economy with central banks reiterating that inflation will be transitory in 2021.

Meanwhile, hope continues to grow that the world can quickly return to normal, with US unemployment claims falling to 473,000, a pandemic low.

Alibaba posts a loss amid revenue growth

Alibaba (NYSE: BABA), the owner of T-Mall and Ant Financial, which had its IPO delayed last year, reported a rare loss with the recent US$2.8 billion fine reversing its ~US$2.0 billion quarterly profit.

Despite the attention, the fintech reported a 50% increase in profit itself. Alibaba shares finished the day more than 6% lower.

US stock market movers

Here’s how other popular US stocks performed in Thursday’s session.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to follow Wall Street higher when the market opens on Friday. 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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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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