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US stock market report – Nasdaq gains 43% in FY21

US markets finished mixed for the financial year, with the Dow Jones and S&P 500 both positive, up 0.6% and 0.1% driven by a rally in consumer staples, energy and financials.

The tech-driven Nasdaq was slightly weaker, down 0.2% as the stay at home trade took a breather.

Over the financial year, the returns were among the strongest in the world with the Dow adding 34.1%, the S&P 500 37.9% and the Nasdaq 42.8% – the strongest returns for over 20 years.

Whilst the lower starting point and vaccine-led recovery helps, earnings have been the biggest surprise.

Micron’s beat

Micron Technologies (NASDAQ: MU), part of the important semiconductor sector, reported a 76% increase in cash flow and 36% growth in sales as its mobile and desktop chips saw huge demand amid a global shortage.

Boeing ramping up

Boeing (NYSE: BA) also jumped 1% after new plane orders began ramping up when United Airlines confirmed the purchase of 270 new aircraft.

Robinhood’s massive fine

Finally, popular low-cost trading platform Robinhood received the largest fine in FINRA history, hit with US$70 million in costs on alleged infractions that included providing false and misleading information to customers and failing to complete due diligence on options trading accounts for novice traders.

US stock market movers

Here’s how popular US stocks performed overnight.

  • Airbnb (NASDAQ: ABNB) up 4.8%
  • GAP (NYSE: GPS) up 3.3%
  • Walmart (NYSE: WMT) up 2.7%
  • Workday (NASDAQ: WDAY) down 3.1%
  • Sea Ltd (NYSE: SE) down 4.4%
  • MongoDB (NASDAQ: MDB) down 5.8%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to edge lower at the open on Thursday to start the new financial year. 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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