Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top
September new jobs higher than expected, is this a 'soft landing' ?
Views 1.6M Contents 181

Wall Street Today | Market Finished Monday Flat After Turn Around, Chinese Stocks Fly

avatar
Kevin Travers joined discussion · Sep 30 15:38
Wall Street Today | Market Finished Monday Flat After Turn Around, Chinese Stocks Fly
On Monday the market swapped from an overall decline to trading flatly. Two out of three S&P 500 sectors were climbing by the close after the day started in a reversal. Over the weekend, the world was affected by a major hurricane in the American south, ground raids in Lebanon, and yet another stimulus effort for Chinese stocks.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ climbed 42 basis points to nearly an all-time trading high, the $Dow Jones Industrial Average (.DJI.US)$ climbed 4 bps, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 38 basis points.
MACRO
This week, investors can await nonfarm payrolls and the unemployment rate to check progress on the labor market. Last week, the PCE came in at 2.2%, the lowest year-over-year inflation number since 2021.
Monday afternoon, Federal Reserve Chair Jerome Powell spoke at the National Association of Business Economics. He said inflation was on its way down, and that labor should not get any weaker to make room for inflation decreases.
"If the economy evolves broadly as expected, policy will move over time to a more neutral stance," Powel said. "But we are not on any preset course, the risks ahead are two-sided, and we will continue to make our decisions meeting by meeting."
SECTORS
Within industries tracked by moomoo, Chinese stocks were again climbing at record paces after China's central bank on Sunday directed commercial banks to lower mortgage rates for existing home loans by at least 30 basis points before Oct. 31. Last week, the People's Bank of China lowered the reserve requirement ratio for banks and cut the interest rates.
Wall Street Today | Market Finished Monday Flat After Turn Around, Chinese Stocks Fly
$Alibaba (BABA.US)$, $PDD Holdings (PDD.US)$ and $JD.com (JD.US)$ were all climbing, and the $CSI 1000 Index (000852.SH)$ was climbing 11% Monday morning, up 27% in six days.
UBS analyst Zuzanna Pusz said Chinese stocks still trade at 30% price-to-book discount to emerging markets peers, with profitability only 2% lower.
MOOVERS
$Amentum Holdings (AMTM.US)$ climbed 25% Monday after the firm was added to the S&P 500 on the 24th of September. The stock was falling 10% after hours, facing heavy volatility as the highest gainer on the index.
$Stellantis NV (STLA.US)$ sank more than 12% Monday after the parent of Chrysler and other auto brands slashed its full-year adjusted operating income margin and free cash flow projections amid deteriorating global industry trends.
$EchoStar (SATS.US)$ sank more than 11% intraday Monday on word that DirecTV is buying EchoStar's video-distribution business, which includes Dish TV and Sling TV, via a debt exchange -- cementing a combination the two companies have sought for decades. $AT&T (T.US)$ has agreed to sell its 70% stake in DirecTV to its partner, private-equity firm TPG Inc., for about $7.6 billion in cash payments through 2029.
Shares of $Trump Media & Technology (DJT.US)$, the social media company majority-owned by Donald Trump, rose more than 10% intraday Monday after surviving a week in which early investors sold shares.
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.
Word from the herd: Mooers, what are you watching?
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. 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 regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
40
3
1
1
1
+0
5
Translate
Report
206K Views
Comment
Sign in to post a comment