Alibaba, JD.com, NIO Stocks Surge After China Interest Rate Cut and New Stimulus

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Alibaba, JD.com, NIO Stocks Surge After China Interest Rate Cut and New Stimulus. 📈 Shares of China companies rose sharply Tuesday after its central bank lowered interest rates and the government added stimulus designed to bolster the stock market. MarketWatch reports.

🤖 AmazinAI: Amazon fell behind in AI. An Alexa creator is leading its push to catch up. Yahoo Finance reports.

🌍 OLEDVietnam: Samsung plans to invest $1.8 billion more in Vietnam for OLED manufacturing. Reuters reports.

🛫 SkyDecisions: Southwest Airlines tells staff ‘difficult decisions’ ahead in push to boost profits. CNBC reports.

🛠️ QualIntel: Qualcomm's potential Intel buyout could raise antitrust, foundry concerns. Reuters reports.

🚙 ElectriDrive: GM’s EV sales momentum is finally building as new vehicle lineup fills out. CNBC reports.

📈 AscendKKR: KKR raises $4.6 billion for debut North America mid-market deals fund. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $MSS: Maison Solutions
Total gain: +100%

2. $HSCS: Heart Test Laboratories
Total gain: +72.78%

3. $MLGO: MicroAlgo
Total gain: +50.25%

4. $GBNY: Generations Bancorp NY
Total gain: +43.63%

5. $CYCC: Cyclacel Pharmaceuticals
Total gain: +25.25%

* Analyzing the markets with Richie Naso, a Wall Street veteran of over 40 years and former member of the NYSE.

The Stock Market Is Priced for Middling Returns from Here On

The Fed kept rates close to zero for nearly a decade following the 2008-09 global financial crisis, then took them above 2% before heading back toward zero during the Covid-19 pandemic. When a combination of stimulus cash, rebounding consumer demand, and supply chain kinks sent inflation to double-digit percentages, the Fed quickly raised rates to their recent peak to cool demand.

The argument for a half-point rate cut now was that inflation had cooled to 2.5% over the year through August, while job growth had slowed. The Fed’s two jobs are to promote stable prices and maximum employment. Jobs need more attention than inflation at the moment, the thinking goes. But just as rising rates didn’t hurt stocks, don’t expect falling rates to now send stocks to rapturous new highs.

The closing price of the top three market percent gainers trading near or above $3 on September 23.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $LASE: Laser Photonics
Total gain: +80.69%
The stock appeared to be moving on no notable news.

2. $NVVE: Nuvve Holding
Total gain: +65.35%
The stock appeared to be moving on no notable news.

3. $UXIN: Uxin
Total gain: +57.72%
The company announced its unaudited financial results for the first quarter, which ended on June 30, 2024. Transaction volume for the three-month period totaled 5,605 units, reflecting a 38.1% increase from 4,058 units in the previous quarter and a 72.2% increase from 3,254 units during the same period last year. Retail transaction volume was 4,090 units, up 30.9% from 3,124 units in the prior quarter and up 142.4% from 1,687 units in the same period last year. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

WOR: Worthington Enterprises
1Q 2025
After Market Close
Estimate: 0.740
Actual: N/A

KBH: KB Home
3Q 2024
After Market Close
Estimate: 2.050
Actual: N/A

PRGS: Progress Software
3Q 2024
After Market Close
Estimate: 1.130
Actual: N/A

Time (ET) / Report / Period

9:00 am - Federal Reserve Governor Michelle Bowman speaks
9:00 am - S&P Case-Shiller home price index (20 cities) - July
10:00 am - Consumer confidence - September

“There are a million ways to make money in the markets. The irony is that they are all very difficult to find.”

― Jack D. SchwagerSourced in:
“Market Wizards”, by Jack D. Schwager, published in 1989