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US stock market morning report – AAPL, GOOGL & JPM stock rise on tax hike

Overnight, it was another mostly flat day for US stock markets. However, the local ASX 200 (ASX: XJO) is expected to rise.

The S&P 500 (INX) increased modestly, up 0.15%, and the Nasdaq 100 rose 0.3%.

A rally in the likes of Apple (NASDAQ: AAPL) stock and Alphabet (NASDAQ: GOOGL) stock drove the market with retailers and financials also doing well.

S&P 500 (INX) – 5 years

inx index

The US Federal Reserve continues to reiterate its willingness to extend Quantitative Easing and other support programs, confirming they will be in place for ‘some time’ even as the economy recovers.

Costings of the planned US tax hike from 21% to 28% were also outlined. They aim to fund the massive infrastructure spending program by raising US$2.5 trillion over fifteen years. The news isn’t expected to impact too many companies, in fact, the true focus is on bringing overseas income back to the US.

Investment bank JP Morgan (NYSE: JPM) rallied 1.7% after CEO Jamie Dimon released his annual shareholder letter, stating:

“I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the US economy will likely boom”.

Let’s hope he is right!

Is BNPL the opportunity of a lifetime or is the sector a ticking time bomb?

Rask's analyst has just finished a 7,500-word report, The Ultimate BNPL Sector Report, taking a deep dive into this booming ASX sector. It shines a spotlight on each of the major players. You can get the full analyst report for FREE by CLICKING HERE NOW or entering your email below.

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Afterpay, Zip Co, Sezzle…

Is BNPL the opportunity of a lifetime or is the sector a ticking time bomb?

Rask's analyst has just finished a 7,500-word report, The Ultimate BNPL Sector Report, taking a deep dive into this booming ASX sector. It shines a spotlight on each of the major players. You can get the full analyst report for FREE by CLICKING HERE NOW.

Note: the report is 100% free.

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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Keep reading:

Rask Media’s Ultimate BNPL Sector Report

Afterpay, Zip, Sezzle… is this the opportunity of a lifetime? Or is BNPL a ticking time bomb? This 7,500-word analyst report takes a deep dive into the BNPL sector and shines a spotlight on each of the major players in this booming market. 

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As we emerge from COVID-19, some tech companies are growing faster than ever. Rask’s investment analysts have identified 3 growth stocks set to benefit. Big time.

Enter your email below to access this report for free, including the names, ticker codes and analysis.

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