Alibaba, CrowdStrike Set to Open Higher— And What Else Is Happening in the Stock Market Today

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Updated Aug. 24, 2021 9:28 americium ET / Original Aug. 24, 2021 9:07 americium ET

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The banal marketplace was acceptable for a higher unfastened arsenic the Chinese cardinal slope said it wants monetary argumentation to enactment economical growth.

The Dow Jones Industrial Average gained 60 points, oregon 0.15%, portion the S&P 500 roseate 0.15% and the Nasdaq Composite precocious 0.2%.

Most of the enactment was happening overseas. Chinese stocks roseate aft the People’s Bank of China said it wants to keep monetary argumentation supportive of economical growth. The Shanghai Composite Index roseate 1.1% and the Hang Seng Index roseate 2.5%. Chinese tech stocks besides got a large boost, with Alibaba (BABA) gaining 4.7%, Baidu (BIDU) rising 3.8%, and (JD) jumping 8.2%.

“Rising equities globally, and specifically Asia, are starring the mild hazard connected sentiment today,” writes NatAlliance Securities’ Andrew Brenner. 

In Europe, Germany’s gross home merchandise came successful stronger than expected. Economic output grew 9.8% year-over-year growth, amended than the expected 9.6%, and different motion that Europe’s system had been rebounding strongly. Germany’s Dax roseate 0.3%, though the FTSE 100 and the Stoxx Europe 600 were some lower.  

Here are 5 stocks making moves successful Wednesday’s premarket action:

Palo Alto Networks (PANW) banal roseate 12% aft reporting a profit of $1.60 a share, beating estimates of $1.44 a share, connected income of $1.22 billion, supra expectations for $1.17 billion.

Best Buy (BBY) banal roseate 5.4% aft reporting a nett of $2.89 a share, beating estimates of $1.85 a share, connected income $11.85 billion, supra expectations for $11.49 billion. 

CrowdStrike (CRWD) roseate 4.9% aft getting added to the Nasdaq-100.

Cigna (CI) banal roseate 1% aft the institution announced a $2 cardinal accelerated stock repurchase program

DXC Technology (DXC) banal gained 1.3% aft getting upgraded to Positive from Neutral astatine Susquehanna. 

Victoria’s Secret & Company (VSCO) banal dropped 3.3% aft getting downgraded to Equal Weight from Overweight astatine Morgan Stanley.  

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