New round of economic stimulus expected to push up U.S. stock market exit news pulls Sina up more than 10%

U.S. stocks closed higher and technology stocks led the way on Monday, boosting risk appetite in anticipation of a new stimulus package. By the close, the Dow was up 459.67 points, or 1.78 per cent, at 26,287.03, the Standard and Poor’s 500 index was up 49.71 points, or 1.59 per cent, at 3,179.72 and the Nasdaq was up 226.02 points, or 2.21 per cent, at 10,433.65.

New round of economic stimulus expected to push up U.S. stock market exit news pulls Sina up more than 10%

The Nasdaon closed at 10,433.65, another record high.

Major U.S. tech giants rose across the board, with Facebook up 2.94 percent, Amazon up 5.77 percent, Apple up 2.68 percent, NetFlix up 3.55 percent, Alphabet up 2.12 percent and Microsoft up 2.15 percent.

China’s major technology stocks were the most powerful, with NetEase up 2.12 percent, Aichi Coe up 0.5 percent, Ping Duo Duo down 6.45 percent, Weibo up 17.97 percent, Tencent Music up 11.17 percent, Alibaba up 7.33 percent, JD.com up 3.01 percent, Baidu up 7.81 percent and EQ 21.1 percent.

Shares of China General Shares

Other mid-cap stocks were the most largely high, with mushroom street (up 37.29%), Tiger Securities (up 32.85%), Fun Shop (up 29.65%), SMIC (up 28.16%), NIO (up 22.71) ), Maverick Electric (up 21.15%), Jinshan Yun (up 15.88%), Stranger (up 15.68%), Billion Airlines (up 15.61%), Tiger Tooth (up 15.4%), Titanium (up 15.18%), 360 Financial (up 15.02%), Worryfree English (up 12.08%), Yunmi (up 11.6%), Sina (up 10.55%), Futou Holdings (up 10.13%), Huami (up 9.68%), Financial (up 9.68%), Financial (up 11.68%) Up 9.49%), Sohu (up 9.28%), Lyche (up 7.97%), Lexin (up 7.85%), Jianan Technology (up 7.69%), Auto House (up 7.11%), Dane Technology (up 7.01%), Leju (up 6.67%), Xinyi Technology (up 6.52%), NetEase (up 6.39%), New Oriental (up 6.1%), Phoenix New Media (up 6.08%), UT Starcom (up 5.95%), Ctrip (up 5.7%) 2%), Cheetah Mobile (up 5.23%), Temple (up 5.18%), Fluent (up 5.1%), Gather (up 5.08%), Sinfu (up 5.08%), 1 Drug Net (up 4.7%), Sogou (up 4.65%) ), Lanting (up 4.52%), House World (up 4.51%), Fish (up 4.45%), 500 Lottery Network (up 4.31%), Who to learn (up 4.15%), Zhengbao Education (up 3.88%), Tubu gofa (up 3.88%) Up 3.62%, Pleasant Loans (up 3.57%), Periname (up 3.53%), Baozun Electric (up 3.42%), Eggshell Apartments (up 3.27%), Reunion Group (up 2.86%), Thunderbolt (up 2.75%), Renren (up 2.42%), Such as Han Holdings (up 2.31%), Good Future (up 1.67%), Future Worry (up 1.52%), Microlending Network (up 1.5%), Century Internet (up 1.15%), Youxin (up 0.63%), Essentials (up 0.29%), 58 Tongcheng (up 0.22%).

Companies down were EasyCar (down 0.06%), Little Win Technology (down 0.56%), Group Car (down 0.69%), New Oxygen (down 0.88%), Sampiton (down 1.14%), Janpu Technologies (down 1.6%), Universal Data (down 1.64%), Zhongtong (down 3.17%), And Beep (down 8.39%).

New round of economic stimulus expected to push up U.S. stock market exit news pulls Sina up more than 10%

NIO shares have risen five in a row, up about 67%

NIO shares rose sharply on Monday as investors reacted to the June auto delivery data released over the weekend. NIO shares rose 21 percent in premarket trading. IN REGULAR TRADING, NIO SHARES ROSE $2.13, OR 22.71 PERCENT, TO $11.51. NIO shares were up 3.91 percent in after-hours trading. NIO revealed on Thursday that car deliveries rose 179 per cent in June from a year earlier and 191 per cent year-on-year in the second quarter. NIO’s impressive car deliveries in June and q2 show that NIO has fully recovered from the outbreak and that the heavily invested sales network is beginning to work in 2019. In addition, the huge investment from Hefei city also solved the shortage of funds that has been plagued BY NIO, so that it has sufficient funds to build its own factories. NIO’s chief financial officer, Mr. Feng, said last week that the surge in sales had given him confidence that the company’s gross margin would reach or exceed expectations. NIO shares have risen for five straight sessions, rising about 67 per cent to their highest level in regular trading since September 13, 2018 ($11.6).

New round of economic stimulus expected to push up U.S. stock market exit news pulls Sina up more than 10%

News of exit boosts Sina’s shares by more than 10%

Before the u.S. stock market opened on July 6, Sina’s official website disclosed that the board had received a preliminary non-binding offer from MMXV Limited (“New Wave”, translated Chinese as “Sina”, referred to as “MMXV”). According to the offer, MMXV will acquire sina shares that are not yet held, valuing Sina at about $2.68 billion, or $41 per share, 12 percent more than Sina’s closing price of $36.67 on the previous trading day. MMXV is controlled by Sina CEO and Chairman Cao Guowei. MMXV owns 12.2% of Sina and has a 58% voting right. Sina’s shares rose more than 10 percent in premarket trading on the news. Sina said the company’s board of directors had set up a special committee composed of independent directors Zhang Songyi, Zhang Wei and Wang Yan to evaluate the deal. Sina said in a statement that it could not guarantee that the acquirer would make a formal offer, that it would reach any agreement or approve any deal. Alicia Yap, an analyst at Citi, said in an investment report that the deal was “very likely to pass” and would mark the end of an era: Sina was the first Chinese internet company to go public in the US. Sina landed on the NASDAQ Stock Exchange in April 2000. Sina shares rose $3.87, or 10.55 percent, to $40.54 in regular trading today.

U.S./Foreign Technology Stocks

Other foreign technology stocks rose, including Tesla (up 13.48 percent), Lending Club (up 9.27 percent), Pinterest (up 7.09 percent), Ericsson (up 6.66 percent), Uber (up 6.0 percent), Twitter (up 4.76 percent), Lyft (up 4.4 percent), Nokia (up 3.6 percent), BlackBerry (up 3.51 percent), NXP (up 3.38 percent), GoPro (up 3.34%), eBay (up 3.33%), SAP (up 3.3%), Yelp (up 3.04%), Salesforce (up 2.7%), Slack (up 2.67%), Nvida (up 2.36%), Hewlett-Packard (up 2.28%), Micron (up 2.19%), Adobe (up 2.18%), AMD (up 2.039%), Zyang (up 2.039%), Fibit (up 1.75%), Cisco (up 1.73%), Activision Blizzard (up 1.5%), Western Digital (up 1.2%), Oracle (up 1.18%), Qualcomm (up 1.14%), Broadcom (up 1.05%), Snap (up 0.86%), Box (up 0.77%), Groupon (up 0.72%), Intel (up 0.69%), Motorola (up 0.69%), Motorola (up 0.68%), iRobot (up 0.68%), Dell Technologies (up 0.58%), Sony (up 0.43%), IBM (up 0.41%) and Art Power (up 0.32%).

Companies down were zoomed (down 0.28%), Symantec (down 0.4%), VMware (down 0.49%), PayPal (down 0.58%), Express gold (down 0.95%) and Spotify (down 4.14%).

New round of economic stimulus expected to push up U.S. stock market exit news pulls Sina up more than 10%

Tesla’s five-year-old gain, up about 43 percent

Tesla shares rose more than 13 percent Monday and nearly 43 percent in five trading days after several analysts raised their target for better-than-expected second-quarter deliveries. JMP Securities raised its target price to $1,500 from $1,050 after Tesla reported better-than-expected second-quarter auto deliveries on Thursday. “We believe that the question now is not whether Tesla’s current valuation is too high, but its growth and competitive dynamics, with the impact on its share price over the next few years,” said Joseph Osha, an analyst at JMP Securities, in an investment report, and forecast Tesla revenue selling at $100 billion by 2025. JPMorgan has downgraded Tesla to “sell-down” and raised its target price to $295 from $275. Deutsche Bank raised its target price for Tesla to $1,000 from $900. Analysts gave a median price of $675 for Tesla, well below the current share price of $1,371, according to Refinitiv. The second-quarter delivery data raised expectations for Tesla’s second-quarter earnings: Tesla could make a new breakthrough: for the first time in history, four consecutive quarters of earnings. Tesla’s shares have risen nearly 500 percent in the past year. Tesla shares rose $162.92, or 13.48 percent, to $1,371.58 in regular trading today. Tesla shares rose $62.39 in after-hours trading.

New round of economic stimulus expected to push up U.S. stock market exit news pulls Sina up more than 10%

Amazon shares to pped to $3,000

Amazon shares rose $166.74, or 5.77 percent, to $3,057.04 in regular trading Monday. It was also the first time Amazon’s share price had exceeded $3,000. Amazon’s share price has risen more than 14 per cent in the past four trading days, about 80 per cent above its March low and worth $1.5 trillion. Demand for Amazon e-commerce and cloud services has been rising during the outbreak, as many brick-and-mortar stores were closed and large numbers of employees were working at home. Many Wall Street analysts don’t think that trend will change much since the end of the epidemic, a view that has recently boosted Amazon’s stock price. While analysts are optimistic about Amazon’s business, they are still “behind” amazon’s rise. Less than a quarter of the roughly 50 analysts tracked by Bloomberg gave a target of more than $3,000, an average of $2,810, up from $2,179 at the end of 2019, but still about 8 percent lower than the current share price. Amazon’s share price is at its highest level in years, according to a Bloomberg analysis. Amazon is still popular with Wall Street. Of the analytics companies tracked by Amazon, only one rated Amazon stock as “sell,” 52 gave a “buy” rating and four gave a “hold” rating.