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 market report – Amazon bans Visa UK credit cards

All three US stock markets finished lower on Wednesday, led down by the Dow Jones, which fell 0.6% as oil prices continued their retreat.

The S&P 500 and Nasdaq were stronger in comparison, both falling 0.3% as the technology sector benefitted from a weakening in bond yields.

Chinese leader Xi Jinping and President Biden are said to have discussed releasing oil stockpiles in order to reduce fuel prices that are impacting consumers directly.

Target sales surge

Shares in retailer Target (NYSE: TGT) fell close to 5% despite delivering a 50% increase in quarterly revenue on 2020 levels on a 13% increase in foot traffic at its stores. Online sales continued to surge, up 29% on the prior year.

Amazon bans Visa

Amazon (NASDAQ: AMZN) ended broadly flat after announcing it would no longer accept payments from Visa (NYSE: V) credit cards in the UK due to the high commission rates they charge.

Amazon customers will still be able to use Visa debit cards, Mastercard and Amex credit cards at checkout. Shares in Visa fell around 5% on the news.

US stock market movers

Here’s how other popular US stocks performed overnight.

  • Roblox (NYSE: RBLX) up 7.3%
  • Moderna (NASDAQ: MRNA) up 3.5%
  • Tesla (NASDAQ: TSLA) up 3.3%
  • Uber (NYSE: UBER) down 3.6%
  • PayPal (NASDAQ: PYPL) down 4.4%
  • Roku (NASDAQ: ROKU) down 11.3%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is heading towards a flat open this morning.

Commonwealth Bank of Australia (ASX: CBA) shares will be on watch after tumbling 8% yesterday on the bank’s first-quarter report. To find out more, 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