U.S. stocks rose Friday on good news on international trade relations, lower-than-expected declines in nonfarm payrolls in April and the prospect of a gradual economic restart. By the close, the Dow was up 455.43 points, or 1.91 per cent, at 24,331.32, the S.P. 500 was up 48.61 points, or 1.69 per cent, at 2,929.80 and the Nasdaq was up 141.66 points, or 1.58 per cent, at 9,121.32.
The Nasdaq is up 1.58% at 9121.32.
Most of the major U.S. tech giants rose, with Facebook up 0.52 percent, Amazon up 0.51 percent, Apple up 2.38 percent, NetFlix down 0.22 percent, Alphabet up 1.15 percent and Microsoft up 0.59 percent.
China’s major technology stocks rose mostly, with NetEase up 3.58 per cent, Aichi Yi up 4.16 per cent, Ping Duo up 9.09 per cent, Weibo down 1.06 per cent, Tencent Music up 5.75 per cent, Alibaba up 2.39 per cent, JD.com up 4.51 per cent, Baidu up 1.62 per cent and E.B.I. up 1.28 per cent.
Share price of China General Stock
Most of the other Chinese stocks rose, including Jinshan Yun (up 40.24%), Fun (up 14.38%), Only will (up 13.47%), Thunderbolt (up 12.06%), Pleasant Loan (up 7.34%), LeXin (up 6.36%), Housing World (up 5.88%), Cluster (up 5.69%), Future Worry (up 5.45%), Huami (up 5.39%), Futo Holdings (up 5.36%), Baxter (up 4.57%), Zhongtong (up 4.22%), Fish (up 4.19%), NIO (up 3.86%), Tiger Securities (up 3.68%), EasyCar Network (up 3.52%), Century Connect (up 3.41%), Lychee (up 3.23%), New East (up 3.18%), Good Future (up 3.03%), Phoenix New Media (up 2.9%), New Oxygen (up 2.85%), Who Learns (up 2.72%), Letters and Technology (up 2.5%), 360 Finance (up 2.41%) %) Baozun E-commerce (up 2.41%), Tuan (up 2.36%), Small Win Technology (up 2.28%), Tiger Tooth (up 2.26%), Auto House (up 2.23%), Dane Technology (up 2.2%), Sohu (up 2.2%) 18%), Zhengbao Education (up 2.01%), NetEase (up 2.01%), Sina (up 1.75%), Canaan Technology (up 1.55%), Youxin (up 1.52%), SMIC (up 1.43%), Happy Group (up 1.31%), Ctrip (up 1.25%), Beep Mile (up 1.22%), Stranger (up 0.85%), Titanium (up 0.74%), financial sector (up 0.71%), 58 Tongcheng (up 0.6%), Sogou (up 0.58%), Yunmi (up 0.51%), Maverick Electric (up 0.45%), up 0.5% (up 0.5%))
Companies that were flat on the previous trading day included: Medi-Street and group cars.
Companies that fell included: Jane Pu Technology (down 0.09%), Touch (down 0.42%), Shinjuun (down 0.58%), Eggshell Apartments (down 0.65%), 1 Pharmaceutical Network (down 0.92%), 500 Lottery Network (down 1% .2%, as Han Holdings (down 1.27%), Worry Free English (down 1.37%), Cheetah Mobile (down 1.49%), Temple Bank (down 1.53%), Lanting Set (down 1.57%), Renren (down 2.04%), Renren UT Starcom (down 2.15%), LeCou (down 3.53%), Microloans (down 5.59%), fluent (down 5.75%).
Figure: 1 drug net push diabetes management platform, down 0.92%
1 DrugNetwork today announced the joint launch of the Diabetes Diabetes Management Platform with Lilly China. Together, the two sides will create an integrated diabetes management platform that provides services including disease management, education and patient support to better understand chronic disease management for patients and better help people with diabetes manage themselves at home. The platform will combine technologies such as online healthcare, big data and artificial intelligence to provide a comprehensive digital health management platform for people with diabetes. The platform will provide a one-stop solution for physician consultation and drug service, enabling patients to consult qualified physicians through the network to obtain personalized health management services. In regular trading today, 1 drug store sings down 0.07 cents, or 0.92 percent, to $7.53. In after-hours trading, 1 drug-net shares were up 7 cents.
Figure: Jinshan Cloud up more than 40% on its first day of trading
On the Nasdaq Stock Exchange on Friday, The IPO was priced at $17, opening at $20.37, up 30 percent at $22.02, or $4.53 billion. Jinshan Yun issued 30 million Shares of American Depositary Shares through an IPO, representing 15 common shares per American Depositary Stock. Under the agreement, underwriters can purchase up to 4.5 million additional shares of Jinshan Yun U.S. depositary shares within 30 days. Jinshan Yun is the largest IPO by a Chinese company in the U.S. this year, according to Bloomberg. Luckin Coffee’s recent financial scandal is not a good time for Chinese companies to list in the U.S. When it was suspended in April, Luckin Coffee’s shareprice was 74 per cent below its IPO price. “This is a good time for high-quality companies to go up for an IPO, ” said Henry He, chief financial officer of Jinshan Yun. Investors who are willing to invest in high-quality companies will pay more attention to companies like ours. According to the prospectus filed with the Securities and Exchange Commission, Jinshan Yun is China’s third-largest cloud service provider by revenue, with a market share of 5.4%. Last year, Jinshan Cloud lost $160 million in revenue of $568 million. Jinshan Yun chairman is Lei Jun. After the IPO, Xiaomi’s stake in Jinshan Yun was about 14%. JPMorgan Chase, UBS, Credit Suisse and CICC are co-bookkeepers of The Golden Cloud IPO. Jinshan Yun will be listed on the NASDAQ Global Select Market under the ticker symbol “KC”.
U.S./Foreign Technology Stocks
Other foreign technology stocks rose, including Uber (up 6.01%), Pinterest (up 5.83%), Western Digital (up 5.62%), VMware (up 5.26%), Tesla (up 5.05%), Hewlett-Packard (up 4.75%), Dell Technologies (up 4.55%), iRobot (up 4.43%), Slack (up 4.04%), Slack (up 4.04%), Twitter (up 4.03%), Cisco (up 3.92%), Groupon (up 3.57%), Micron Technologies (up 3.56%), Salesforce (up 3.53%), Lyft (up 2.99%), Spotify (up 2.78%), Broad (up 2.72%), Speedgold (up 2.53%), Invida (up 2.53%), Blackberry (up 2.39%), Blackberry (up 2.39%), Blackberry (up 2.39%), Yelp (up 2.36%), Lending Club (up 2.23%), GoPro (up 2.23%), Qualcomm (up 2.19%), Ericsson (up 2.16%), NXP (up 2.12%), eBay Bay (up 2.12%) (up 1.89%), Box (up 1.84%), Oracle (up 1.84%), Sony (up 1.77%), Zynga (up 1.7%), IBM (up 1.45%), SAP (up 1.33%) Intel (up 0.85%), Nokia (up 0.85%), Symantec (up 0.47%), Snap (up 0.44%), Adobe (up 0.2%), And Momentum Blizzard (up 0.05%).
Companies that fell included Yidian (down 0.15%), Fibit (down 0.74%), PayPal (down 0.91%), Zoom (down 1.52%) and Motorola Systems (down 3.63%).
Pictured: News of the resumption of production has pushed Tesla’s shares up more than 5%
Tesla shares rose $39.38, or 5.05 percent, to $819.42 in regular trading today. Tesla’s share price rose today after news that it would return a significant proportion of its employees to its Vermont plant on Friday to prepare for production. In an email sent to employees last night, Tesla CEO Elon Musk said the company would resume production Friday afternoon. It comes after California Gov. Gavin Newsom announced that the state would allow retail, manufacturing and logistics companies to resume production from today. Tesla’s head of human resources in North America said in a separate email that 30 percent of its employees at the Vermont plant will be back at work. While manufacturers are allowed to resume production, Mr Newsom said local governments could continue to enforce their own restraining orders. Alameda County, where Tesla’s Vermont plant is located, requires businesses, represented by tesla plants, to close until the end of the month. According to an email tesla sent to employees this week, it may have ignored the Alameda County ban. In the email, Musk also said that employees who do not want to return to work do not have to return to work.
CHART: Some U.S. Apple stores reopen, up 2.38 percent
Apple confirmed to CNBC Friday that stores in Idaho, South Carolina, Alabama and Alaska will reopen next week. Most Apple stores outside China have been closed since March. Apple plans to take some security measures at its re-open edited stores, such as taking temperature measurements, allowing employees to wear masks and restricting the flow of people entering the store at the same time. The re-opened Apple store will provide maintenance services mainly to its customers. In a statement sent to CNBC, Apple said, “Our new social distance guide limits the number of visitors to the store at the same time, so some customers may have to wait a while to get in.” We recommend that customers purchase products online where possible and choose a non-contact courier or shop-free method. Apple has six stores in Idaho, South Carolina, Alabama and Alaska, and 271 stores in the United States. While Apple did not release its quarterly results, Apple executives told shareholders last week that sales of iPhones and wearables would worsen in the June quarter as a result of store closures. Apple said sales of MacBooks and iPads were likely to grow because of demand for home telecommuting. Apple’s shares rose $7.21, or 2.38 percent, to $310.13 in regular trading today. Apple’s shares have risen about 3 percent so far this year.