Trending Stocks, bonds, and more
The S&P 500 dipped Friday, keeping the U.S. stock index on track for its worst quarterly performance in a year.
A selloff in bonds has sent longer-term Treasury yields soaring and weighed on the stock market since June.
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Marketwatch:
Nike (NKE): Shares jumped about 6%
Tesla (TSLA): Shares of the EV maker rose
Alibaba (BABA): stocks gained
Commerzbank (XE: CBK): Shares rocketed more than 11%
United Air Lines (UAL): Shares edged higher.
Carnival (CCL): fell more than 6%.#Trending #StocksToBuy pic.twitter.com/VVpVC1P2di— The_Journalbiz (@the_journalbiz) September 29, 2023
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Nike (NKE): Shares jumped about 6% after the sportswear company reported better-than-expected profits on Thursday. Nike also said its inventories fell 10% from the previous year—a sign that the company is working through its inventory glut. Foot Locker (FL) shares gained more than 2%.
Tesla (TSLA): Shares of the EV maker rose as investors awaited fresh data about the state of its business, expected next week.
Alibaba (BABA), JD.com (JD): American depositary receipts in these and other Chinese stocks gained. A proposal by China’s cyberspace regulator to ease cross-border data-security controls buoyed sentiment. ADRs in NIO (NIO), the Chinese EV maker, also rose.
Blue Apron (APRN): The meal-kit maker agreed to a $103 million sale to the food-delivery startup Wonder, a takeover that would end its disastrous six-year experiment with public ownership. Blue Apron’s battered stock more than doubled, surging toward Wonder’s $13-a-share bid price.
General Motors (GM), Ford Motor (F), Stellantis (STLA): The United Auto Workers union is poised to call more walkouts on Friday, as the strike against Detroit’s three automakers enters its third week.
Commerzbank (XE: CBK): Shares of Germany’s second-largest lender rocketed more than 11%, leading the Stoxx Europe 600 index, after the bank said it would pay more money to shareholders.
United Air Lines (UAL): Shares edged higher. Its pilots approved a new contract that includes pay raises of as much as 40% over its four-year term.
Carnival (CCL): The cruise line reported its first quarterly profit since before the pandemic; its stock, however, fell more than 6%.
