Midday movers: Tesla and Macy’s rise; Coinbase and Nio fall

07/05/2024

1 minute read

2024.07.05 12:18

Midday movers: Tesla and Macy's rise; Coinbase and Nio fall

(Updated – July 5, 2024 12:15 PM EDT)

Investing.com — U.S. stock futures traded higher Friday after data showed the U.S. added 206,000 jobs in June, more than economists had forecast. Importantly, April and May job figures were revised lower, pointing to cooling in the labor market and easing concerns about inflation.

Here are some of the biggest U.S. stock movers today:

Tesla (NASDAQ:) stock rose 1% with several state-owned firms in China’s financial hub of Shanghai having recently purchased the EV manufacturer’s best-selling Model Y as service cars, following a local media report saying Tesla cars had been made eligible for a Chinese local government purchase list.
Macy’s (M) stock rose 9% after the Wall Street Journal reported that Arkhouse Management and Brigade Capital Management have raised their bid to buy the department store chain for about $6.9 billion.
Coinbase (NASDAQ:) stock fell 1.4%, with the cryptocurrency exchange suffering after , the world’s most popular digital currency, fell to its lowest point since February.
Nio (NYSE:) ADRs fell 7% after the Chinese EV maker announced that chief financial officer Steven Feng has resigned, citing personal reasons, to be succeeded by insider Stanley Yu Qu.
Shell (LON:) ADRs rose 1% despite the oil major announcing that it will take an impairment charge of up to $2 billion after the sale of its Singapore refinery and pausing of construction of one of Europe’s biggest biofuel plants.
Amazon (NASDAQ:) stock rose 1.2% despite news that the European Commission requested more information on the measures the U.S. e-commerce giant has taken to comply with its Digital Services Act obligations.
Meta Platforms (NASDAQ:) rose 4.5%, hitting its first record high since April.
Constellation Brands (NYSE:) rose 2.7% as Wall Street analysts discussed the company following its earnings report on Wednesday, with most firms maintaining a ‘buy’ rating on the stock.