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US stock market report – Spielberg inks streaming deal with Netflix

The value or reflation trade continued at full steam overnight, with the Dow Jones jumping 1.8% on little news outside of another member of the Federal Reserve noting that the economic recovery is likely to be varied and uneven.

The S&P 500 also added 1.4% with the Nasdaq underperforming, jumping 0.8% as investors flocked back to the financials and energy sectors.

The oil price rallied once again sending energy stocks higher, however, it was the banks that drove the market, with the sector having a strong session as a combination of lower short-term bond yields and higher longer-term yields is expected to boost profitability.

Billionaire Ray Dalio of Bridgewater was the latest to throw their hat in the ring suggesting the Fed will find it difficult to increase rates without creating significant volatility in markets.

Netflix signs massive deal

Turning to company-specific news, Netflix (NASDAQ: NFLX) was lower despite announcing a high-profile deal with Steven Spielberg to produce a number of movies each year.

Featured video: Buying into innovation with Simon Erickson, 7Investing

US stock market movers

Here’s how other popular US stocks started the week on Monday.

  • Moderna (NASDAQ: MRNA) up 4.5%
  • American Express (NYSE: AXP) up 4.3%
  • 3M (NYSE: MMM) up 1.9%
  • Apple (NASDAQ: AAPL) up 1.4%
  • CrowdStrike (NASDAQ: CRWD) down 3.0%
  • Uber (NSYE: UBER) down 3.2%
  • Pinterest (NYSE: PINS) down 4.1%
  • Wix (NASDAQ: WIX) down 4.6%

ASX 200 today

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