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CORRECTION: Dada Nexus Earnings And Citigroup Upgrade Were On Aug. 21
State of the Consumer: Airbnb, Wayfair, and Stitch Fix Leads Gains in the Retail Sector
Dada Nexus Shares Are Trading Higher After the Company Reported Q2 Earnings and After Citigroup Upgraded the Stock From Sell to Neutral.
Retail sales drive US stocks higher! The S&P 500 Index and the Dow Jones Industrial Average hit record highs intraday, and Chinese assets are surging across the board.
China's assets are exploding.
US stocks in early trading | The three major indexes rose collectively, Chinese concept stocks and technology stocks strengthened collectively, Li Auto Inc rose nearly 9%, Tesla rose over 3%.
USA retail sales exceeded expectations in August, indicating that the consumer situation in the USA remains healthy. The Federal Reserve will begin its two-day monetary policy meeting today and announce the meeting results tomorrow. Wedbush brokerage stated that AI stocks like Nvidia will benefit from the Fed's rate cut.
US stock abnormality: dada nexus rose more than 14%, jd.com acquired all the shares of dada nexus held by walmart, increasing its shareholding ratio to 63.2%.
On September 17th, Dada Nexus (DADA.US) rose more than 14% to $1.21; jd.com (JD.US) rose more than 2.7% to $27.02. In terms of news, on September 17th, Dada Nexus announced in its press release that JD.com has completed the purchase of 87.48128 million ordinary shares of Dada Nexus and 1.875 million American depository shares previously held by walmart. As a result, JD.com has acquired all of walmart's stake in Dada Nexus, increasing its ownership to 63.2%. An insider from jd.com told the media that this move demonstrates jd.com's long-term and steady development strategy for Dada Nexus.