Marketwatch, trending stocks and more
Bond yields rose and stocks fell after fresh economic data showed a still-hot labor market.
That dragged on financial shares, with indexes of bank stocks dropping.
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Marketwatch
Rivian Automotive (RIVN): startup's stock jumped 15%,
Levi Strauss (LEVI): the stock was down 7%
Meta Platforms (META): Stock edged up 1%
Biogen (BIIB): shares fell 2.8%.
Tesla (TSLA): shares were among the most actively traded and rose 1%.#stockstowatch pic.twitter.com/gDY0Gf3JbA— The_Journalbiz (@the_journalbiz) July 7, 2023
Factset chart on stockmarket
Trending stocks today are:
Alibaba (BABA): American depositary receipts for the e-commerce giant rose 8.5% in afternoon trading after Chinese authorities slapped its affiliate, Ant Group, with a nearly $1 billion fine. The move takes Ant closer to the end of its lengthy overhaul.
Rivian Automotive (RIVN): The electric-vehicle startup’s stock jumped 15%, on track to gain for an eighth session. Rivian has been on a tear since it said second-quarter deliveries rose.
Levi Strauss (LEVI): The clothing company’s stock was down 7% after swinging to a loss in the second quarter.
Meta Platforms (META): The Facebook owner edged up 0.8. Meta has drawn interest from advertisers and users, and ire from Twitter, since launching its Threads app this week.
Biogen (BIIB): The FDA approved a treatment for Alzheimer’s disease developed by Japan-listed Eisai and Biogen. The U.S. company’s shares fell 2.8% in afternoon trading.
Tesla (TSLA): The EV-maker’s shares were among the most-actively traded and rose 1%. On Thursday, Tesla joined 15 Chinese automakers in a pledge to end an EV price war.
Clariant (CLN): The Swiss chemicals company rose 4.9% in Zurich after it said it was taking steps to reduce costs in response to weak demand.
