Alphabet (GOOGL) made the biggest splash, spiking more than 12 percent to new record highs. The search giant benefited from a stay-at-home boom in online advertising. But a lot more is going on.
ABNB and DASH are looking to raise $6.2 billion — more than double the total for the entire month last year. Including other deals like Roblox and ContextLogic, the IPO market is on pace for the busiest December ever.
An upgrade by Goldman Sachs was the latest catalyst for the stock, already up 609 percent this year. Analyst Mark Delaney based his call on macro and micro factors.
Walt Disney (DIS), Cisco Systems (CSCO) and Applied Materials (AMAT) beat analyst forecasts but remained below recent highs. Less prominent companies including Chinese e-commerce firm Pinduoduo (PDD) and cannabis stock GrowGeneration (GRWG) surged to new territory.
JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) reported third-quarter results this week. JPM and C beat estimates across the board, partially because of stock and bond trading.
Technology stocks just had their worst month since March, but some big events could draw attention back to the group in October.
Ever heard of Pinduoduo? GSX Techedu, or Bilibili? They’re among a handful of technology stocks breaking out to new highs as investors embrace China’s flourishing digital economy.