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US stock market report – Amazon & Apple stock in focus

Picture of Drew Meredith, CFP
Drew Meredith, CFP
Picture of Drew Meredith, CFP

Drew Meredith, CFP

Drew Meredith is one of the founders of Wattle Partners. He is an experienced financial and investment adviser with expertise in self-managed superannuation funds, superannuation strategies, investment analysis and portfolio construction. Drew is a Partner at Wattle Partners.
More analysis

US markets commenced the week strongly, led by gains in the technology sector, which finished 1.4% higher on Monday.

Among the highlights were Amazon’s (NASDAQ: AMZN) announcement that it was seeking to buy movie studio MGM, which owns the likes of Rocky and James Bond, for US$9 billion as the company continues to pivot into the streaming sector.

Similarly, the court showdown between Fortnite developer Riot Games and Apple (NASDAQ: AAPL) over access to the tech giant’s App Store will finish today with a decision due this week.

Both Amazon and Apple stock finished 1.3% higher for the day.

Meanwhile, shares in Virgin Galactic (NYSE: SPCE) rocketed 27.6% following the company’s successful weekend test flight to the edge of space.

More inflation and employment data is due this week with the Biden’s administration deciding to cut the infrastructure stimulus plan from US$2.3 trillion to US$1.7 trillion now unlikely to be passed by Republicans for at least a few weeks.

US stock market movers

Here’s how other popular US stocks performed on Monday.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to follow US markets higher at the open. 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.

Get 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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