The US stock markets closed on a positive note on Thursday, with major indices showing gains. The Dow Jones Industrial Average climbed 0.6% to reach 42,175.11, while the S&P 500 gained 0.4% to close at 5,745.37. The Nasdaq also advanced 0.6%, hitting 18,190.29.
Several stocks caught the attention of retail traders and investors throughout the day. Alibaba Group Holding Limited (BABA) emerged as a standout performer, closing with a remarkable 10.07% increase, reaching an intraday high of $105.97. The company’s recent launch of over 100 open-source AI models, dubbed Qwen 2.5, has sent ripples through the tech world. This ambitious move, covering a range of industries, signals Alibaba’s determination to outpace its rivals in the AI space.
Costco Wholesale Corporation (COST) experienced a slight dip, closing down 0.77% at $901.44. Despite missing its fourth-quarter revenue estimates, Costco exceeded EPS estimates and reported a 5.4% rise in comparable sales, indicating continued strength in the retail giant’s performance.
BlackBerry Limited (BB) saw a strong showing, closing up 6.28% at $2.54. The company’s second-quarter earnings report highlighted its success in IoT and cybersecurity, surpassing both revenue and EPS estimates.
JD.com, Inc. (JD) enjoyed a significant surge, closing up 14.39% at $37.99. The stock benefitted from China’s announcement of a monetary stimulus earlier this week.
Tesla, Inc. (TSLA) closed down 1.09% at $254.22. The company recently sent out invites for the unveiling of its highly anticipated robotaxi, scheduled for October 10.
These stocks and their performance provide valuable insights into the current market trends and investor sentiment. As the market continues to evolve, it will be interesting to observe how these companies navigate the evolving landscape and capitalize on emerging opportunities.
