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 report – Target smashes expectations, Bitcoin whipsaws

The sell-off continued for a third day across US markets, with the Dow Jones falling 0.5%, the S&P 500 0.3% and the Nasdaq finishing flat as tech shares rallied once again.

The inflation talk continued to gather steam after the release of the Federal Reserve’s latest minutes, which suggested the interest rate setting committee had quite a strong debate.

The notes discuss the appropriate timing of the removal of the US$120 billion bond-buying program, with the cash rate likely to remain on hold for the foreseeable future.

Bitcoin’s volatility was on full show with the digital asset falling 33% before rising 31% in the same session.

Target smashes expectations

Target’s (NYSE: TGT) position as a pandemic winner and willingness to evolve saw the group report a fivefold increase in earnings per share in the first quarter.

Comparable store sales were up 23% and digital sales 50% on the prior year, with the owned brands division seeing the strongest growth, up 36%.

This suggests those businesses that the company controls, rather than relies on external supply chains, are avoiding inflationary issues. Target shares finished 6% higher.

US stock market movers

These US stocks were among the big movers in Wednesday’s session.

Back home on local markets, the S&P/ASX 200 (ASX: XJO) is tipped to open broadly flat on Thursday. 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.

Powered by

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

Skip to content