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US stock market report – Fastly surges despite sending internet into meltdown

The S&P 500 finished flat on Tuesday, with the likes of Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) pacing the market and ensuring the Nasdaq was strongest, adding 0.3%. The Dow Jones continued to weaken, falling 0.1%.

There was more positive news around jobs growth, with job openings hitting 9.3 million in April, well above the 8.2 million expected as lockdowns come to an end.

Fastly outage takes major websites offline

The news of the night, however, was the failure of content distribution network Fastly (NYSE: FSLY), which is the technology supporting major sites ranging from Reddit, Twitch and Pinterest to the Australian Financial Review and Financial Times.

Dozens of sites were hit by an outage yet the company’s shares finished more than 11% higher after quickly rectifying the issue.

Biogen’s Alzheimer’s shock

Elsewhere, Biogen (NASDAQ: BIIB) jumped over 30% after the FDA approved their latest version of an Alzheimer’s treatment, the first such approval in over 20 years.

US stock market movers

Here’s how other popular US stocks performed overnight.

  • Stitch Fix (NASDAQ: SFIX) up 14.1%
  • Virgin Galactic (NSYE: SPCE) up 8.1%
  • Opendoor (NASDAQ: OPEN) up 6.2%
  • Cloudflare (NYSE: NET) up 4.6%
  • Amazon (NASDAQ: AMZN) up 2.1%
  • Uber (NYSE: UBER) down 1.7%
  • Doordash (NYSE: DASH) down 4.0%
  • Upstart (NASDAQ: UPST) down 4.7%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to push higher when the market opens 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.

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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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