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Chinese Stocks Pull Back to End Stimulus Holiday, Oil Falls | Moovin Stonks

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Kevin Travers wrote a column · Oct 8 09:58
Chinese Stocks Pull Back to End Stimulus Holiday, Oil Falls | Moovin Stonks
Good morning, traders. Happy Tuesday, October 8th. Chinese stocks are finally pulling back, alongside Crude Oil Futures. Stimulus jumps can only go so far, and analysts like George Pavel from Capex.com told Wall Street Journal the energy market is no longer expecting an all-out Israeli attack on Iran.
My name is Kevin Travers; here stonks and stories you have to hear about from Wall Street Today.
$Marathon Petroleum (MPC.US)$ fell 8%, the lowest reaching stock on the S&P 500 following the drop in oil prices. The Ohio-based refinery and oil seller is one of many energy firms hit by the pullback.
$PDD Holdings (PDD.US)$ was the lowest decliner on the Nasdaq 100, falling 6% with the rest of the Chinese stock world.
$Palo Alto Networks (PANW.US)$ climbed 4%, the highest on the S&P 500 after Goldman Sachs analyst Gabriela Borges raised the firm's price target from $376 to $425 and maintained the firm with a buy. $Alibaba (BABA.US)$ fell 6%, $JD.com (JD.US)$ fell 6%, and $Bilibili (BILI.US)$ fell 12% as stocks opened for trading after the Chiense holiday.
$PepsiCo (PEP.US)$ reported a drop in sales Tuesday, but not enough to move the stock much.
Investors are watching for $Delta Air Lines (DAL.US)$, and $JPMorgan (JPM.US)$ earnings this week, Tuesday, Thursday, and finally Friday, to start Q3 earnings properly.
Within industries tracked by moomoo, meme stocks from Wall Street Bets were one of the highest-gaining groups of stocks.
Chinese Stocks Pull Back to End Stimulus Holiday, Oil Falls | Moovin Stonks
$Crude Oil Futures(DEC4) (CLmain.US)$ fell about 4.8%, pulling back from two-month highs.
$Bitcoin (BTC.CC)$ hovered at $62k. Gold fell, and Silver fell even more, down  about 4%.       $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the       $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
The market overall fell Tuesday, but not by much, as indexes were climbing.
Chinese Stocks Pull Back to End Stimulus Holiday, Oil Falls | Moovin Stonks
Just past 10:50 am ET the     $S&P 500 Index (.SPX.US)$ traded +0.78%, the       $Dow Jones Industrial Average (.DJI.US)$ climbed just 0.04%, and the     $Nasdaq Composite Index (.IXIC.US)$ climbed 1.27%.
Chinese Stocks Pull Back to End Stimulus Holiday, Oil Falls | Moovin Stonks
This week, investors are awaiting CPI inflation numbers on Thursday. In macro, the market was still digesting Friday's labor numbers, which came in hot- 254k vs. estimates of 147k.  The market will also see the release of the FOMC meeting minutes after the rate cut decision.
CPI numbers will arrive Thursday, forecasted to be at 2.3% growth year over year in consumer prices, a three-year record low. Last month, consumer prices grew by just 2.5% year over year, the lowest rate since 2021
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Yesterday, users were watching and waiting for their favorite stocks to climb this earnings season.
Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
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