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US stock market report – tech takes the mantle, Facebook jumps

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 stock markets were positive overnight, with the technology sector gaining 1% as the reflation trade peters out.

The S&P 500 added 0.2% but the Dow Jones fell 0.4% after a number of countries around Europe and Asia banned British travellers amid a surge in COVID-19 cases in the country despite their solid level of vaccination. Cruise operators and airlines both sank on the news.

Facebook hits US$1 trillion

Facebook (NASDAQ: FB) was the news of the day, with the share price jumping 4.2% and becoming the third company to reach a market cap of US$1 trillion.

The surge came as the company had two anti-monopoly cases against them dropped in the US, ensuring its dominance of ads is set to continue.

More records topple

The US markets are nearing one of their best half years in history with just three days of trade remaining, with the S&P 500 and Nasdaq having hit 32 and 18 new records this year alone.

US stock market movers

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

  • CoinBase (NASDAQ: COIN) up 9.9%
  • NIO (NSYE: NIO) up 9.6%
  • Etsy (NASDAQ: ETSY) up 7.4%
  • NVIDIA (NASDAQ: NVDA) up 5.0%
  • Booking Holdings (NASDAQ: BKNG) down 3.4%
  • Royal Caribbean (NSYE: RCL) down 6.5%
  • Carnival (NSYE: CCL) down 7.0%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is poised to open lower on Tuesday. For all the latest, read Rask Media’s daily 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

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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