In the early trading session, the three major U.S. stock indexes edged up slightly, with GameStop rising nearly 100% and Alibaba falling over 6%
Chinese concept stocks are mixed, with Alibaba Group's adjusted net profit for Q4 at 24.42 billion yuan. Tencent released its Q1 financial report today, with a 62% increase in net profit and plans to increase share buybacks in the future
On Tuesday, May 14th, the US stock market opened slightly higher, with the Nasdaq up 0.07%, the S&P 500 up 0.07%, and the Dow up 0.13%. Federal Reserve Chairman Powell will deliver a speech at 10 pm Beijing time tonight, his first public appearance since the last interest rate meeting.
WSB concept stocks continued to rise, with GameStop up nearly 100% and AMC Theatres up over 120%. In terms of news, Keith Gill, who rose to fame in 2021 by calling on short-term traders in the US stock market to squeeze shorts, seems to be sounding the horn for another round of action after three years, when he led the retail investors to battle Wall Street.
Popular Chinese concept stocks showed mixed movements, with Alibaba falling over 6% despite a Q4 adjusted net profit of 24.42 billion yuan. Tencent released its Q1 financial report today, with a 62% increase in net profit and plans to increase its share buyback efforts.
Updates in progress