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US stock market report – Tesla & NIO on watch

US stock markets continued to new records on Monday, with the Dow Jones and S&P 500 both finishing 0.3% higher. US markets have now doubled since their pandemic low.

A key driver was Apple (NASDAQ: AAPL) which added 1.4% as investors once again flocked to quality and defensive earnings as cases of the Delta variant surged to 130k in the US.

This came at the same time as China’s latest economic data showed a worsening slowdown in the economy, with the average growth in retail sales over the last two years falling to just 3.6%.

Industrial production remains strong at 5.6%. However, when combined with the weaker US consumer last week it is clear the economic recovery is slowing.

Tesla falls

Telsa (NASDAQ: TSLA) was the biggest detractor to the Nasdaq, falling 4.3% after the US government announced an investigation into the company’s Autopilot system.

This came as shares in Chinese competitor NIO (NSYE: NIO) tumbled 5.8% in the aftermath of two fatal accidents.

US stock market movers

Here’s how other popular US stocks started the week on Monday.

  • Intuitive Surgical (NASDAQ: ISRG) up 1.5%
  • PayPal (NASDAQ: PYPL) up 1.2%
  • Home Depot (NYSE: HD) up 1.2%
  • Moderna (NASDAQ: MRNA) down 4.1%
  • Twilio (NYSE: TWLO) down 5.0%
  • Sea Ltd (NYSE: SE) down 5.3%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is heading towards a positive open on Tuesday as ASX reporting season continues.

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.

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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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