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US stock markets finish January strongly

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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All three US stock markets closed the most volatile month in over a year on a positive note, with the Nasdaq outperforming, gaining 3.4% on the back of a surge in the semiconductor sector. It wasn’t enough to reverse the worst monthly return since March 2020.

The most important group of companies in the world has fallen into a correction on supply shortages and valuation concerns, but managed to rally behind NVIDIA (NASDAQ: NVDA) and Intel (NASDAQ: INTC), which gained 7% and 2%, respectively.

Shares in Moderna (NASDAQ: MRNA) also gained more than 6% after the company received full FDA approval of its COVID-19 vaccine.

The S&P 500 and Dow Jones underperformed in comparison, gaining 1.9% and 1.2%, but reversed some of the 10% and 6% losses suffered in January thus far.

According to Bloomberg, some 81% of the 172 S&P 500 companies reporting so far have met or exceeded expectations.

Spotify bounces back

Shares in Spotify (NYSE: SPOT) gained more than 13% on a bullish analyst rating, reversing losses that were driven by growing boycotts of the platform over popular podcaster Joe Rogan’s vaccination views. The group will now include content warnings and more balanced guests.

US stock market movers

Here’s how other popular US stocks jumped out of the gates to start the week.

  • Netflix (NASDAQ: NFLX) up 11.1%
  • Tesla (NASDAQ: TSLA) up 10.7%
  • Shopify (NYSE: SHOP) up 10.6%
  • MercadoLibre (NASDAQ: MELI) 8.0%
  • Airbnb (NASDAQ: ABNB) up 7.8%
  • Pfizer (NYSE: PFE) down 3.0%

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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