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US stock market report – dip buyers emerge

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.
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US stock markets saw another day of dip-buying with the technology sector leading the way once again, the Nasdaq adding 1.7%.

The gains were broad-based following a positive reading on the services sector PMI, which printed at 61.9 points suggesting that the economy is in a strong position despite the Delta outbreak.

Facebook in damage control

The big names were central to the recovery, NVIDIA (NASDAQ: NVDA) up 4% and Netflix (NASDAQ: NFLX) gaining nearly 6%, whilst Facebook (NASDAQ: FB) recovered some lost ground gaining 2.5% as the whistle-blowers’ testimony continues.

The shutdown of Facebook’s family of platforms was fixed on Tuesday however this previous employee is highlighting inappropriate actions by management in the pursuit of profit.

Despite all the headlines, the tech sector is down just 5.4% from its high.

US stock market movers

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

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to follow US markets higher at the open on Wednesday. For all the latest, check out my 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

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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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