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.
$Bitcoin (BTC.CC)$ 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.
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%.
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
Interested in Options? To see these stocks and more on the options page, click here. Want to learn more about options, check out moomoo education with this link. Click here to join our exclusive options chat with personal callouts from our resident expert, Invest with Sarge.
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!
Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
6341Followers
620Following
17KVisitors
Follow
EZ_money :
Bird007 : Wrong! Mainland stock market continued to soar after the holiday! The Hong Kong stock market fell back after digesting profits, which is a normal adjustment, and the upward trend remains unchanged.
活力的羅傑 Bird007 :
y f ii : How to make money without shorting positions?![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Kevin Travers OP Bird007 : I’m just saying what I see when I post the story, and it looked like those stocks were falling— do you believe these stocks are still going to climb
netbrave Kevin Travers OP : will up I feel
101550592 :
Kevin Travers OP netbrave : That is good news for people holding them!!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Bird007 Kevin Travers OP : 我说过趋势没变，中国股市这波起来还会延续，中间调整是因为前期涨幅巨大，需要消化，所以这些股票必然会起来！Why not?
Alen Kok : o
View more comments...