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US stock markets mixed, Apple sets a date

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 began the week on a soft note, with the Dow Jones falling 270 points or 0.8% on concerns that the economic recovery may have peaked.

The S&P 500 fell 0.3% but the Nasdaq gained 0.1% to a new record despite 7 out of 10 constituents falling.

Big tech powers on, Chinese tech back in favour

Investors are once again returning to the FANG and ‘defensive’ tech stocks with Apple (NASDAQ: AAPL) up 1.6%. The company has set a date for its upcoming September event, with new products including the iPhone 13 set to be unveiled on 14 September.

Meanwhile, Chinese tech stocks also continued their recovery from regulatory concerns as both exports and imports jumped far more than anticipated, with JD.com (NASDAQ: JD) and Baidu (NASDAQ: BIDU) both up over 2%.

Bitcoin tanks on El Salvador rollout

Bitcoin faces one of its biggest tests this week as the highly touted rollout of the digital currency as a means of payment in El Salvador begins. It started on a rough note with the currency falling 17% to open the week.

US stock market movers

On the back of the Labour Day holiday, here’s how other popular US stocks started the week.

  • DiDi (NYSE: DIDI) up 7.6%
  • Match Group (NASDAQ: MTCH) up 7.5%
  • Airbnb (NASDAQ: ABNB) up 4.4%
  • Activision Blizzard (NASDAQ: ATVI) down 3.3%
  • 3M (NSYE: MMM) down 4.5%
  • DocuSign (NASDAQ: DOCU) down 6.0%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to open lower on Wednesday. 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.

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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