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

Join Free
Log in

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

Join Free
Log in

US stock market report – AMD stock soars on Facebook deal

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

All three US benchmarks gained on Monday with the Dow Jones leading the way, up 0.3% as energy, mining and smaller companies were at the centre of the rally. The US stock market has found confidence in the recent strength in jobs growth, even dealing with news from a member of the Federal Reserve that they believe rate hikes may be warranted before the end of 2022. Congress finally passed Joe Biden’s US$550 billion infrastructure bill, which despite being watered down significantly offers a positive outlook for the construction and key infrastructure sectors. The crypto sector has been caught up in the new legislation with the White House seeking to force digital exchanges to report in a similar way as traditional broking houses and pay additional tax.

AMD spikes

The Nasdaq gained 0.2% behind a strong rally in chip maker Advanced Micro Devices (NASDAQ: AMD). The company gained 10% after confirming its products would be central to Facebook’s (NASDAQ: FB) new metaverse businesses and had been adopted by every major data centre provider.

Meanwhile, gold continued its recent rally, reaching its highest price in two months as investors seek hedges from booming markets.

US stock market movers

Here’s how other popular US stocks performed overnight.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to edge higher when the market opens this morning. 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.

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.

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

Powered by

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

Skip to content