Market
September 22, U.S. stocks opened modestly higher as investors weighed a light data calendar and awaited next week’s key inflation update. The Dow Jones rose 0.35%, the S&P 500 added 0.11% and the Nasdaq Composite gained 0.22%, reflecting a cautious risk-on mood after a stable overnight session in index futures.
Gainers led early trade: Antelope Enterprise Holdings Limited spikes 11.3%, Alibaba climbs 3.3% on signs of stronger e-commerce demand, SoFi Technologies Inc. advances 4.5% after unveiling a new high-yield savings product, Studio City International Holdings Ltd jumps 5.0% on Macau tourism optimism, and Cango Inc. adds 5.3% as Chinese ADRs rebound. On the downside, Freight Technologies, Inc. slumps 7.5%, SOS Limited falls 8.4%, Future FinTech Group Inc. drops 5.1%, ICZOOM Group Inc. retreats 4.2% and Addentax Group Corp declines 3.7% amid profit-taking in micro-cap names.
Elsewhere, semiconductor ETFs diverge with Direxion Daily Semiconductors Bear 3x Shares up 1.7% while Direxion Daily Semiconductors Bull 3x Shares slips 1.5%; SoFi-linked fintech peers Rocket Lab USA, Inc. up 1.7% and Palantir Technologies Inc. up 0.9%; Chinese internet stocks rebound with JD.com up 1.0%, NetEase up 1.3% and ZTO Express Inc. up 2.3%; education ADRs Lixiang Education Holding and iHuman rally 4.9% and 4.4% respectively; energy names Bloom Energy Corp falls 1.2% and Canaan Inc. loses 1.7%.