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US stock market report – tech shares surge, Ford going green

Drew Meredith, CFP
Drew Meredith, CFP
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

US markets rallied overnight, with the Nasdaq once again gaining the ascendancy finishing 1.8% higher.

The S&P 500 and Dow Jones also gained 1.1% and 0.6%, respectively, as the likes of Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) benefitted from signs of a stronger economy.

The US jobless rate reached another pandemic low, with unemployment claims falling by 34,000 to 44,000 in the week prior.

Bitcoin’s slide has began to slow, moving over US$40,000 once again, down over 20% in just over a week. However, it was proposed this week that all crypto transactions exceeding US$10,000 would need to be reported to the IRS, raising concerns about the lack of privacy.

Ford Motor Co (NYSE: F) rallied 3.1% after announcing its intention to build electric vehicle batteries in the US via a joint venture with Korean specialist SK Innovation Co.

US stock market movers

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

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to follow US markets higher at the open on Friday. For all the latest, check our Rask Media’s ASX 200 morning report.

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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.

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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 Trade Desk.

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