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US stock market report – Trade Desk bounces 7%

The rotation from growth and technology stocks continued to gather steam overnight with the Nasdaq falling 0.5% as traders grow more concerned about the long-term economic outlook.

The Dow Jones and S&P 500 were both higher, by 0.5% and 0.1%, after the oil price staged another recovery.

Infrastructure bill passes

All eyes were on Washington though as the Senate finally passed an infrastructure bill that has been in the pipeline for several years.

The policy will see US$1 trillion in spending, an additional US$550 billion on what was already planned, which whilst positive is just a drop in the ocean compared to the size of the US economy.

Trade Desk hands in strong earnings report

Programmatic advertising group The Trade Desk (NASDAQ: TTD) jumped 7.6% after delivering another strong earnings result with revenue doubling on 2020 levels to US$280 million, profit also doubled to US$47 million.

The company works alongside the likes of Google, Netflix (NASDAQ: NFLX) and Facebook (NASDAQ: FB) to deliver regular, targeted advertising which are seeing a huge recovery after last year’s weakness.

Featured video: 4 stocks to play the rise of digital advertising

US stock market movers

Here’s how other popular US shares fared on Tuesday.

  • MercadoLibre (NASDAQ: MELI) up 7.0%
  • Pfizer (NYSE: PFE) up 4.8%
  • eBay (NASDAQ: EBAY) up 3.0%
  • Intuitive Surgical (NASDAQ: ISRG) down 3.5%
  • CrowdStrike (NASDAQ: CRWD) down 4.1%
  • Spotify (NYSE: SPOT) down 4.1%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to open higher on Wednesday as Commonwealth Bank of Australia (ASX: CBA) gears up to report FY21 results. For all the latest, make sure to bookmark Rask Media’s ASX reporting season calendar.

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.


Disclosure: At the time of publishing, Drew owns shares in Trade Desk.

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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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