Alibaba, JD.com, Nio extend rally in Chinese stocks amid continued hope for relaxing COVID rules

Alibaba, JD.com, Nio extend rally in Chinese stocks amid continued hope for relaxing COVID rules

US-listed shares of Chinese internet companies including Alibaba Group Holding Ltd. and Nio Inc. were rallying sharply in premarket trading Friday as hopeful sentiment continued to build over the possibility that the country was planning to relax its strict COVID-19 policies. The Wall Street Journal reported Friday that Zeng Guang, who was formerly the chief … Read more

Nike stock drops 10% as execs predict cheaper clothing for at least the rest of the year

Nike stock drops 10% as execs predict cheaper clothing for at least the rest of the year

Shares of Nike Inc. plunged as much as 10% after hours Thursday, after the athletic-gear giant’s executives said price-cutting efforts to flush off-season clothing from warehouses in North America would dent gross margins for the rest of its fiscal year and warned of a big potential hit from the stronger dollar. Management also said they … Read more

US jobless claims drop to lowest level in five months

US jobless claims drop to lowest level in five months

The numbers: Initial jobless benefit claims fell by 16,000 to 193,000 in the week ended September 24, the US Labor Department said Thursday. That’s the lowest level of claims since late April. Economists polled by The Wall Street Journal had estimated new claims would rise 2,000 from last week’s initial estimate of 213,000. Key details: … Read more

US consumer price inflation surprises to downside in July

US consumer price inflation surprises to downside in July

The numbers: The US consumer price index was unchanged in July, the Labor Department said Wednesday, compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July. The rate of inflation in the 12 months ended in July retired to 8.5% from a … Read more

Reddit Traders Haven’t Given Up on GameStop. Neither Have Short Sellers.

Reddit Traders Haven’t Given Up on GameStop.  Neither Have Short Sellers.

Text size GameStop announced a stock split, a CFO departure, and layoffs this week. Spencer Platt/Getty Images GameStop was back in the news this week after the company announced a stock split, a CFO departure, and corporate layoffs. Its stock has been volatile, but Reddit traders haven’t given up—and neither have short sellers betting against … Read more

Reddit Traders Haven’t Given Up on GameStop. Neither Have Short Sellers.

Reddit Traders Haven’t Given Up on GameStop.  Neither Have Short Sellers.

Text size GameStop announced a stock split, a CFO departure, and layoffs this week. Spencer Platt/Getty Images GameStop was back in the news this week after the company announced a stock split, a CFO departure, and corporate layoffs. Its stock has been volatile, but Reddit traders haven’t given up—and neither have short sellers betting against … Read more

Who’s to blame for Thursday’s selloff? The Fed, and you, says this analyst

Who’s to blame for Thursday’s selloff?  The Fed, and you, says this analyst

But Thursday’s 3.6% nosedive in the S&P 500 SPX, -3.56%, to the second-lowest close of the year, had two major culprits: the Federal Reserve, and weirdly, investors themselves. Krishna Guha, the vice chairman of Evercore ISI and previously a top aide to form New York Fed President Bill Dudley, says that, more or less, stocks … Read more

What’s next for stock market as Federal Reserve moves toward ‘peak hawkishness’

What’s next for stock market as Federal Reserve moves toward ‘peak hawkishness’

Investors will watch for another gauge of US inflation in the week ahead after the stock market was rattled by the Federal Reserve ramping up its hawkish tone and suggesting large interest rate hikes are coming to get an overheating economy under control. “We’re probably seeing peak hawkishness right now,” said James Solloway, chief market … Read more

Transport stocks keep falling as analyst says a freight recession is ‘likely inevitable’

Transport stocks keep falling as analyst says a freight recession is ‘likely inevitable’

Wall Street’s recent disdain for the transportation sector continued on Friday, as analysts expressed concerns over “rapidly” deteriorating market conditions and a growing risk of a freight recession. BofA Securities analyst Ken Hoexter downgraded nine transport stocks on Friday, including two double downgrades. JP Morgan’s Brian Ossenbeck actually upgraded one stock, but slashed his stock … Read more

GameStop stock shows rare resiliency as it rises to longest win streak in more than 4 years

GameStop stock shows rare resiliency as it rises to longest win streak in more than 4 years

Shares of GameStop Corp. continued to charge higher Friday, to extend the win streak that started nine trading days ago, after they closed at a one-year low. The videogame and consumer electronics retailer’s stock GME, +6.71% charged up as much as 11.1% intraday before paring gains to close up 6.7% at $151.95. It has rocketed … Read more