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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.

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.

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.


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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