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US stock markets rally – Moderna tumbles, Alibaba surges

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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Global benchmarks are set to be buoyed on Tuesday after the US stock market surged to begin the week.

The Dow Jones and S&P 500 gained 1.9% and 1.2% respectively, and whilst the Nasdaq was weaker, up 0.9%, in comparison as the positive sentiment is expanding once again.

The driving news appeared to be signs that the Omicron variant is less severe than Delta, with no surge in hospitalisations yet.

Moderna falls

Whilst positive news for the world, it was negative for Moderna (NASDAQ: MRNA) and its virus treatment with shares falling over 13% on the news.

Alibaba surges

Shares in Alibaba (NYSE: BABA) are beginning to recover once again, after one of the founders and CFO, Maggie Wu, announced she would be stepping down to make room for new blood at the top. Alibaba shares surged over 10% on the news.

China loosens

Sticking with China, it appears the government is taking the opposite view of the rest of the world, with the central bank announcing a reduction in the ‘required reserve ratio’, being deposits that the bank must hold.

This is set to offer more flexibility for more growth in lending and credit, and potentially an acceleration of the economy.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to follow US markets higher at the open 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

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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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