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US stock market report – Apple continues stellar run, China piles on pressure

Both the Nasdaq and S&P 500 closed at new all-time highs overnight, up 0.3% and 0.01% respectively with Apple (NASDAQ: AAPL) continuing its stellar run, hitting a valuation of US$2.4 trillion.

The positive sentiment came from the Fed’s minutes which noted the strength of the recovery and that bond purchasing may be slowed in response.

Yet the employment side is offering mixed messages, with job openings hitting a record of 9.21 million in May, but hiring actually falling suggesting the economy is facing a similar issue with migrant workers as Australia.

China is reportedly mulling the closure of a loophole that allows Chinese businesses like Didi Global (NYSE: DIDI) to list on overseas markets as it seeks to control the most important businesses in the country.

Electronics giant Samsung (KRX: 005930) flagged a 53% increase in second-quarter profit thanks to strong chip prices and a resumption of operations at a key US factory. The power of ‘growth’ remains on show.

US stock market movers

Here’s how popular US stocks traded overnight.

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

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