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US stock markets notch 3-day winning streak, Intel struggles

The US markets were positive, with the major tech companies including Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT) delivering the majority of the gains, sending the Nasdaq 0.4% higher.

The S&P 500 and Dow Jones weren’t as strong, adding 0.1% and 0.2% respectively as investors turned away from the stocks likely to benefit from the reopening trade as jobless claims actually rose by 51,000 in the prior week.

Home sales continue to hit records, with the median price jumped 23.4% year-over-year, a similar trend to that of Australia with expats stuck and everyone looking to upgrade.

Intel struggles, Twitter reports

Intel (NASDAQ: INTC) fell after reporting weaker than expected earnings, profit fell slightly to US$5 billion for the quarter, due to a similar decline in revenue of a few per cent.

The culprit was the group’s data centre revenue, down 9%, with memory solutions also dropping 34% after a booming second quarter.

Fortunately, Intel’s ‘internet of things’ revenue connecting everything from fridges to phones grew 47% in just three months.

Finally, Twitter (NYSE: TWTR) reported its fastest revenue growth since 2014, jumping 74% on the back of an 11% increase in users.

US stock market movers

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

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to open lower on Friday despite this positive lead from US markets. 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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