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Monday Market Falls, Chinese Stocks Climb, Indices Rebalance | Live Stock
Good morning, traders. Happy Monday, December 9th. The trading week started with falling indexes and climbing Chinese stocks on stimulus news, my name is Kevin Travers, and here are stories you have to know:
$Hershey (HSY.US)$ shares climbed 14%, the highest percentage gainer on the S&P 500 after a report from Bloomberg that Mondelez International is exploring an acquisition of the chocolate giant. Mondelez previously sought a deal with Hershey but walked away in 2016 when the chocolate giant rejected its $23 billion bid, according to WSJ.
$Omnicom Group (OMC.US)$ fell 8%, the lowest on the S&P 500, after news it was in talks to acquire Interpublic Group, in a combination that would create the largest advertising company in the world with a combined revenue of $20B, according to a Wall Street General report.
$Applovin (APP.US)$ shares fell 16%, the lowest in the Nasdaq 100 after the stock missed Monday's updated S&P 500 listings. In the changeup, $Coinbase (COIN.US)$ fell 3% alongside a small 1% drop in the price in $The Trade Desk (TTD.US)$ missing the boat. $Apollo Global Management (APO.US)$ and $Workday (WDAY.US)$ climbed after they were selected to join the index. The S&P 500 covers 80% of the total market capitalization, according to Seeking Alpha, and inclusions on the giant listing can positively affect stock perception.
Within industries tracked by moomoo, Chinese Concept stocks were climbing high after a post-Politburo meeting press release came out from the top Chinese monetary authority, stating next year's policy would be "moderately loose" compared to this year's "prudent." They have not said that in 14 years. It was enough to send American shares of top Chinese stocks higher, $Alibaba (BABA.US)$ and $JD.com (JD.US)$ surged 9% and 13%, $Bilibili (BILI.US)$ climbing 20% $NIO Inc (NIO.US)$ were up 14%, and internet search engines $Baidu (BIDU.US)$ added 7.8%. Hong Kong's $Hang Seng Index (800000.HK)$ finished 2.8% higher.
In earnings, the reporting season still somehow drags on. Oracle is scheduled to report earnings on Monday. $Adobe (ADBE.US)$ is set to release quarterly results on Wednesday. $Broadcom (AVGO.US)$ and $Costco (COST.US)$ will report earnings on Thursday.
$Crude Oil Futures(FEB5) (CLmain.US)$ climbed 2%. $Bitcoin (BTC.CC)$ hovered below $100k, last seen at $97k. Gold and silver climbed. Treasuries climbed.
The market pulled back overall Monday, a slow start to a week that follows record trading high after record to start December the week before.
Just past 11:17 am ET the $S&P 500 Index (.SPX.US)$ traded -0.49%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.24%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.60%.
This week, investors are watching for CPI inflation numbers coming in on Wednesday, expected at 2.7% and 3,3% for core prices, not including energy and food.
Over the weekend, users were chatting about next year and how excited they were to watch their investments in 2025. Many said the new administration made them feel optimistic for equity prices.
Traders, what do you think? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!
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.
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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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72358569 : Stay away from China. I would not touch any China stocks, No matter how high they can go
SharonH6 : Nice recap.
Dan’l : Here I was, thinking how well I’d done today, and then… $Hershey (HSY.US)$?
Chocolate is ridiculously expensive these days; the sharp rise in the stock price is likely due to those cookies folks make for Santa, with the kisses on top.
Marie Thermidor : Thanks Kevin
牛奔 72358569 : 那你应该取消关注
Alen Kok :
raj2323 : what stimulas package china announced today
LittleSoldier 72358569 : Just Short the China Stocks!
Kevin Travers OP raj2323 : it was not direct stimi, but more just optomistic language from the policy maker that next year money will flow more easily
Silverbat : TSLA much better
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