Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

US stock markets rally – Facebook’s name change, Big Tech earnings ahead

US stock markets all approach all-time highs again on Thursday as earnings season continues to confirm the health of the corporate economy, ultimately being supported by a deleveraged global consumer.

Ford (NYSE: F) and Tesla (NASDAQ: TSLA) were among the biggest contributors to a rally in consumer stocks after the former upgraded guidance.

The Nasdaq continues to lead, adding 1.4% as Facebook (NASDAQ: FB) jumped 1.5% after announcing the decision to change the parent company’s name to Meta in a reference to the metaverse; its next sector of growth.

The S&P 500 and Dow Jones were 1.0% and 0.7% higher, respectively, after initial estimates showed GDP grew at an annual rate of just 2% in the quarter, well below forecasts. The ECB kept rates and bond-buying on hold at current levels.

Ford upgrades outlook

Ford shares gained over 8% after the company upgraded guidance for the financial year despite reporting vehicle sales were down nearly 18% on the prior year.

The dividend was reinstated and markets took heart from confirmation that the chip shortage may be slowing.

Amazon & Apple earnings ahead

Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) stock will be on watch after both tech giants released quarterly reports after the market closed.

Amazon missed estimates for both earnings and revenue, and the forecast heading into the holiday season was weaker than expected.

Meanwhile, Apple missed sales expectations as supply chain issues cost the company US$6 billion during the quarter. Both stocks are down around 3% after hours.

US stock market movers

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

  • Ford (NSYE: F) up 8.7%
  • Affirm (NASDAQ: AFRM) up 7.1%
  • Shopify (NYSE: SHOP) up 7.0%
  • Visa (NSYE: V) down 2.8%
  • eBay (NASDAQ: EBAY) down 6.8%
  • Twilio (NYSE: TWLO) down 17.6%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to follow this positive lead from US markets to open higher on Friday. For a round-up of the latest news, 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.

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.

Powered by

Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

Skip to content