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lawrencegb
2022-10-24

Pre-Bell｜U.S. Stock Futures Gain; Hot Chinese ADRs Tumbles

U.S. stock futures were pointing modestly higher on Monday, consolidating last week’s gains as a sla

Pre-Bell｜U.S. Stock Futures Gain; Hot Chinese ADRs Tumbles

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Stephanie712
·2022-10-24
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Google-parent Alphabet Inc will report on Tuesday, followed by Facebook-parent Meta Platforms Inc on Wednesday and Apple Inc and Amazon.com Inc on Thursday.</p><p><img src=\"https://static.tigerbbs.com/92e454a4a4c4e5a17d2d57dd9a9d570f\" tg-width=\"2044\" tg-height=\"1448\" referrerpolicy=\"no-referrer\"/></p><h2>Market Snapshot</h2><p>At 7:55 a.m. ET, Dow e-minis were up 250 points, or 0.8%, S&amp;P 500 e-minis were up 28.5 points, or 0.76%, and Nasdaq 100 e-minis were up 59.25 points, or 0.52%.</p><p><img src=\"https://static.tigerbbs.com/039c6efe657b78736f7538342770a9bd\" tg-width=\"453\" tg-height=\"188\" referrerpolicy=\"no-referrer\"/></p><h2>Pre-Market Movers</h2><p><b>Tesla (TSLA)</b> – Tesla fell 2.3% in the premarket after cutting Model 3 and Model Y prices in China by up to 9%. The price cuts come amid signs of softening demand in China. Chinese EV makers are also seeing their shares under pressure, with <b>Nio (NIO)</b>, down 9.5%, <b>XPeng (XPEV)</b>, losing 11.2% and<b> Li Auto (LI)</b>, falling 9.1%.</p><p><b>Alibaba (BABA)</b> – Alibaba tumbled 11.8% in premarket trading. The Chinese e-commerce giant saw the price of its US ADRs dip below their 2014 IPO level of $68 per share.</p><p><b>China Tech Stocks</b> – China-based tech stocks are under pressure. Among shares that trade in the U.S.,<b> JD.com (JD)</b> tumbled 15.5% in the premarket, <b>Baidu (BIDU) </b>slid 12.6% and <b>Tencent Music (TME)</b> fell 11%.</p><p><b>WeWork (WE)</b> – The office-sharing company’s stock jumped 5.7% in the premarket after Cantor Fitzgerald rated it “overweight” in new coverage. Cantor notes that $2.7 billion in expenses have already been removed through cost cuts and optimizing the company’s real estate portfolio.</p><p><b>ServiceNow (NOW)</b> – ServiceNow added 3.9% in premarket trading after Guggenheim upgraded the stock to “buy” from “neutral.” The firm says the digital workflow software company has “admirable” profit margins and a dependable customer base.</p><p><b>Medtronic (MDT) </b>– The medical equipment maker announced plans to spin off its patient monitoring and respiratory interventions unit into a separate company. Medtronic added 1.7% in premarket trading.</p><p><b>Royal Philips (PHG)</b> – Royal Philips fell 2.8% in premarket action after reporting a bigger-than-expected loss, with the Dutch medical equipment maker also saying it would be cutting 4,000 jobs, or about 5% of its workforce. Its results were hurt by supply chain issues as well as a sizeable recall of a sleep apnea device.</p><p><b>Myovant Sciences (MYOV) </b>– Myovant jumped 8.2% in the premarket after the drugmaker agreed to be bought by a subsidiary of majority shareholder Sumitomo Pharma for $27 per share. That price is 10% above a prior offer by Sumitomo, which already owns 52% of Myovant.</p><p><b>Williams-Sonoma (WSM)</b> – The housewares retailer’s stock was downgraded to “underperform” from “hold” at Jefferies, which sees the shares underperforming under a more difficult economic environment. Williams-Sonoma fell 2.5% in premarket action.</p><h2>Market News</h2><h3>Sunak Looks Set to Become Next UK PM After Johnson Quits Race</h3><p>Rishi Sunak looked set to become Britain&#39;s next prime minister after his rival Boris Johnson quit the race, admitting that he could no longer unite their party following one of the most turbulent periods in British political history.</p><p>Sunak, the 42-year-old former finance minister, could be named leader as soon as Monday to replace Liz Truss, becoming Britain&#39;s third prime minister in less than two months.</p><h3>China&#39;s Q3 GDP up 3.9% on Year, Beating Forecasts</h3><p>Helped by a raft of government measures, gross domestic product of the world&#39;s second-biggest economy expanded 3.9% in July-September from a year earlier, official data showed on Monday, outstripping the 3.4% pace forecast in a Reuters poll and faster than the 0.4% growth in the second quarter.</p><h3>Tesla Cuts China Prices By up to 9%</h3><p>Tesla has cut starter prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of increases across the industry amid signs of softening demand in the world&#39;s largest auto market.</p><p>The price cuts, posted in listings on the electric vehicle (EV) giant&#39;s China website on Monday, are the first by Tesla in China in 2022, and come after Tesla began offering limited incentives to buyers who opted for its insurance last month.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPre-Bell｜U.S. Stock Futures Gain; Hot Chinese ADRs Tumbles\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-10-24 20:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures were pointing modestly higher on Monday, consolidating last week’s gains as a slate of major tech company earnings await.</p><p>Focus now shifts to reports this week from big tech and growth companies. Google-parent Alphabet Inc will report on Tuesday, followed by Facebook-parent Meta Platforms Inc on Wednesday and Apple Inc and Amazon.com Inc on Thursday.</p><p><img src=\"https://static.tigerbbs.com/92e454a4a4c4e5a17d2d57dd9a9d570f\" tg-width=\"2044\" tg-height=\"1448\" referrerpolicy=\"no-referrer\"/></p><h2>Market Snapshot</h2><p>At 7:55 a.m. ET, Dow e-minis were up 250 points, or 0.8%, S&amp;P 500 e-minis were up 28.5 points, or 0.76%, and Nasdaq 100 e-minis were up 59.25 points, or 0.52%.</p><p><img src=\"https://static.tigerbbs.com/039c6efe657b78736f7538342770a9bd\" tg-width=\"453\" tg-height=\"188\" referrerpolicy=\"no-referrer\"/></p><h2>Pre-Market Movers</h2><p><b>Tesla (TSLA)</b> – Tesla fell 2.3% in the premarket after cutting Model 3 and Model Y prices in China by up to 9%. The price cuts come amid signs of softening demand in China. Chinese EV makers are also seeing their shares under pressure, with <b>Nio (NIO)</b>, down 9.5%, <b>XPeng (XPEV)</b>, losing 11.2% and<b> Li Auto (LI)</b>, falling 9.1%.</p><p><b>Alibaba (BABA)</b> – Alibaba tumbled 11.8% in premarket trading. The Chinese e-commerce giant saw the price of its US ADRs dip below their 2014 IPO level of $68 per share.</p><p><b>China Tech Stocks</b> – China-based tech stocks are under pressure. Among shares that trade in the U.S.,<b> JD.com (JD)</b> tumbled 15.5% in the premarket, <b>Baidu (BIDU) </b>slid 12.6% and <b>Tencent Music (TME)</b> fell 11%.</p><p><b>WeWork (WE)</b> – The office-sharing company’s stock jumped 5.7% in the premarket after Cantor Fitzgerald rated it “overweight” in new coverage. Cantor notes that $2.7 billion in expenses have already been removed through cost cuts and optimizing the company’s real estate portfolio.</p><p><b>ServiceNow (NOW)</b> – ServiceNow added 3.9% in premarket trading after Guggenheim upgraded the stock to “buy” from “neutral.” The firm says the digital workflow software company has “admirable” profit margins and a dependable customer base.</p><p><b>Medtronic (MDT) </b>– The medical equipment maker announced plans to spin off its patient monitoring and respiratory interventions unit into a separate company. Medtronic added 1.7% in premarket trading.</p><p><b>Royal Philips (PHG)</b> – Royal Philips fell 2.8% in premarket action after reporting a bigger-than-expected loss, with the Dutch medical equipment maker also saying it would be cutting 4,000 jobs, or about 5% of its workforce. Its results were hurt by supply chain issues as well as a sizeable recall of a sleep apnea device.</p><p><b>Myovant Sciences (MYOV) </b>– Myovant jumped 8.2% in the premarket after the drugmaker agreed to be bought by a subsidiary of majority shareholder Sumitomo Pharma for $27 per share. That price is 10% above a prior offer by Sumitomo, which already owns 52% of Myovant.</p><p><b>Williams-Sonoma (WSM)</b> – The housewares retailer’s stock was downgraded to “underperform” from “hold” at Jefferies, which sees the shares underperforming under a more difficult economic environment. Williams-Sonoma fell 2.5% in premarket action.</p><h2>Market News</h2><h3>Sunak Looks Set to Become Next UK PM After Johnson Quits Race</h3><p>Rishi Sunak looked set to become Britain&#39;s next prime minister after his rival Boris Johnson quit the race, admitting that he could no longer unite their party following one of the most turbulent periods in British political history.</p><p>Sunak, the 42-year-old former finance minister, could be named leader as soon as Monday to replace Liz Truss, becoming Britain&#39;s third prime minister in less than two months.</p><h3>China&#39;s Q3 GDP up 3.9% on Year, Beating Forecasts</h3><p>Helped by a raft of government measures, gross domestic product of the world&#39;s second-biggest economy expanded 3.9% in July-September from a year earlier, official data showed on Monday, outstripping the 3.4% pace forecast in a Reuters poll and faster than the 0.4% growth in the second quarter.</p><h3>Tesla Cuts China Prices By up to 9%</h3><p>Tesla has cut starter prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of increases across the industry amid signs of softening demand in the world&#39;s largest auto market.</p><p>The price cuts, posted in listings on the electric vehicle (EV) giant&#39;s China website on Monday, are the first by Tesla in China in 2022, and come after Tesla began offering limited incentives to buyers who opted for its insurance last month.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WSM":"Williams-Sonoma Inc","PHG":"飞利浦","XPEV":"小鹏汽车","TSLA":"特斯拉","MDT":"美敦力","NOW":"ServiceNow",".DJI":"道琼斯",".SPX":"S&P 500 Index","MYOV":"Myovant Sciences Ltd.","JD":"京东","BIDU":"百度","BABA":"阿里巴巴","TME":"腾讯音乐","NIO":"蔚来",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198391867","content_text":"U.S. stock futures were pointing modestly higher on Monday, consolidating last week’s gains as a slate of major tech company earnings await.Focus now shifts to reports this week from big tech and growth companies. Google-parent Alphabet Inc will report on Tuesday, followed by Facebook-parent Meta Platforms Inc on Wednesday and Apple Inc and Amazon.com Inc on Thursday.Market SnapshotAt 7:55 a.m. ET, Dow e-minis were up 250 points, or 0.8%, S&P 500 e-minis were up 28.5 points, or 0.76%, and Nasdaq 100 e-minis were up 59.25 points, or 0.52%.Pre-Market MoversTesla (TSLA) – Tesla fell 2.3% in the premarket after cutting Model 3 and Model Y prices in China by up to 9%. The price cuts come amid signs of softening demand in China. Chinese EV makers are also seeing their shares under pressure, with Nio (NIO), down 9.5%, XPeng (XPEV), losing 11.2% and Li Auto (LI), falling 9.1%.Alibaba (BABA) – Alibaba tumbled 11.8% in premarket trading. The Chinese e-commerce giant saw the price of its US ADRs dip below their 2014 IPO level of $68 per share.China Tech Stocks – China-based tech stocks are under pressure. Among shares that trade in the U.S., JD.com (JD) tumbled 15.5% in the premarket, Baidu (BIDU) slid 12.6% and Tencent Music (TME) fell 11%.WeWork (WE) – The office-sharing company’s stock jumped 5.7% in the premarket after Cantor Fitzgerald rated it “overweight” in new coverage. Cantor notes that $2.7 billion in expenses have already been removed through cost cuts and optimizing the company’s real estate portfolio.ServiceNow (NOW) – ServiceNow added 3.9% in premarket trading after Guggenheim upgraded the stock to “buy” from “neutral.” The firm says the digital workflow software company has “admirable” profit margins and a dependable customer base.Medtronic (MDT) – The medical equipment maker announced plans to spin off its patient monitoring and respiratory interventions unit into a separate company. Medtronic added 1.7% in premarket trading.Royal Philips (PHG) – Royal Philips fell 2.8% in premarket action after reporting a bigger-than-expected loss, with the Dutch medical equipment maker also saying it would be cutting 4,000 jobs, or about 5% of its workforce. Its results were hurt by supply chain issues as well as a sizeable recall of a sleep apnea device.Myovant Sciences (MYOV) – Myovant jumped 8.2% in the premarket after the drugmaker agreed to be bought by a subsidiary of majority shareholder Sumitomo Pharma for $27 per share. That price is 10% above a prior offer by Sumitomo, which already owns 52% of Myovant.Williams-Sonoma (WSM) – The housewares retailer’s stock was downgraded to “underperform” from “hold” at Jefferies, which sees the shares underperforming under a more difficult economic environment. Williams-Sonoma fell 2.5% in premarket action.Market NewsSunak Looks Set to Become Next UK PM After Johnson Quits RaceRishi Sunak looked set to become Britain's next prime minister after his rival Boris Johnson quit the race, admitting that he could no longer unite their party following one of the most turbulent periods in British political history.Sunak, the 42-year-old former finance minister, could be named leader as soon as Monday to replace Liz Truss, becoming Britain's third prime minister in less than two months.China's Q3 GDP up 3.9% on Year, Beating ForecastsHelped by a raft of government measures, gross domestic product of the world's second-biggest economy expanded 3.9% in July-September from a year earlier, official data showed on Monday, outstripping the 3.4% pace forecast in a Reuters poll and faster than the 0.4% growth in the second quarter.Tesla Cuts China Prices By up to 9%Tesla has cut starter prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of increases across the industry amid signs of softening demand in the world's largest auto market.The price cuts, posted in listings on the electric vehicle (EV) giant's China website on Monday, are the first by Tesla in China in 2022, and come after Tesla began offering limited incentives to buyers who opted for its insurance last month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":306,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":104490249,"gmtCreate":1666617480244,"gmtModify":1666617484052,"authorId":3582030171524236,"author":{"id":3582030171524236,"authorId":3582030171524236,"name":"Stephanie712","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9988093904,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Ok</span>","text":"<span class=\"s1\">Ok</span>","html":"<span class=\"s1\">Ok</span>","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0},{"id":104490194,"gmtCreate":1666617093102,"gmtModify":1666617096555,"authorId":3568026014768326,"author":{"id":3568026014768326,"authorId":3568026014768326,"name":"兔气扬眉","avatar":"https://community-static.tradeup.com/news/58fe9e54c89b636f385d436c63c3e4f2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9988093904,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">K</span>","text":"<span class=\"s1\">K</span>","html":"<span class=\"s1\">K</span>","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}