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Inflation data released: Will there be a cut in November?
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Market Climbs While Chinese Stocks Pause Growth | Wall Street Today

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Kevin Travers joined discussion · Oct 8 15:21
Market Climbs While Chinese Stocks Pause Growth | Wall Street Today
The market overall climbed Tuesday, and Chinese tech stocks and Oil futures fell. Overnight, a Chinese economic planning agency press conference disappointed investors who were hoping for further stimulus, according to Wall Street Journal. Oil and energy, meanwhile, declined without a clear, incoming response from Israel for Iranian missiles to drive up fuel consumption.
Just past 4 pm ET the     $S&P 500 Index (.SPX.US)$ traded +0.97%, the         $Dow Jones Industrial Average (.DJI.US)$ climbed just 0.30%, and the     $Nasdaq Composite Index (.IXIC.US)$ climbed 1.45%.
Market Climbs While Chinese Stocks Pause Growth | Wall Street Today
MACRO
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
SECTORS
Market Climbs While Chinese Stocks Pause Growth | Wall Street Today
Within industries tracked by moomoo, meme stocks from Wall Street Bets were one of the highest-gaining groups of stocks. Most sectors on the S&P 500 were green.
$Crude Oil Futures(DEC4) (CLmain.US)$ fell about 4%, 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       $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ both fell.
MOOVERS
$Marathon Petroleum (MPC.US)$ fell 7%, 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 5% with the rest of the Chinese stock world.   $Alibaba (BABA.US)$ fell 6%,   $JD.com (JD.US)$ fell 7%, and   $Bilibili (BILI.US)$ fell 12% as stocks opened for trading after the Chinese holiday.
$Palo Alto Networks (PANW.US)$ climbed 5%, 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.
$Trump Media & Technology (DJT.US)$ climbed about 18% after opponent Vice President Kamala Harris appeared on CBS 60 Minutes Tuesday night. Trump's campaign also received press over Elon Musk's speech at a Butler Pa Rally over the weekend.
$Affirm Holdings (AFRM.US)$ shares are trading higher Tuesday after BTIG analysts upgraded its stock rating from neutral to buy before the market open.  In midday trading, the stock is up 5.83%, to $40.85.
$PepsiCo (PEP.US)$ 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.
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Word from the herd: Mooers, what are you watching?
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
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