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.

Join Free
Log in

S&P 500 nears bear market, Coinbase reports

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

Thursday saw the sixth straight day of losses for the Dow Jones, which fell 0.3% as earnings season moves into the rearview and economic data becomes the focus again.

The S&P 500 fell 0.1% with the Nasdaq finally delivering a positive result, albeit finishing just 0.06% higher.

Wholesale inflation remained higher than expected, up 0.5% over the prior year, taking the annual rate to 11% from 11.5%.

Disney’s tough road ahead, Coinbase ‘not going bankrupt’

Shares in Walt Disney (NYSE: DIS) fell another 1% after management suggested subscriber growth may slow following another strong quarter.

Coinbase (NASDAQ: COIN) shares gained close to 9% but are still down 75% for the year with the recent IPO price of the trading platform a long way off.

Management was forced to confirm it was not at risk of going bankrupt as the selloff in all things crypto sends growing fear through the industry around custody.

Elsewhere, Twitter (NYSE: TWTR) fell 2% with management confirming two executives will step down and jobs put on hold ahead of Musk’s acquisition.

US stock market movers

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

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to open broadly flat 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 Disney.

Powered by

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

Skip to content