Tuesday’s Headlines: Market Rises on Stimulus Hopes

Tuesday’s Headlines: Market Rises on Stimulus Hopes

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Nautilus (NLS) +13.5%

Square (SQ) +6.7%

Wix (WIX) +5.7%

Trupanion (TRUP) +4.6%

Spotify (SPOT) +4.6%

Moving Down ⬇️

Evolent Health (EVH) -6.6%

Eventbrite (EB) -3.5%

Twilio (TWLO) -2.5%

IMAX (IMAX) -1.9%

Yext (YEXT) -1.8%

1. The stock market rallied yesterday off the back of optimism from investors related to president Trump’s discharge from hospital as well as ongoing stimulus check talks. The Dow Jones Industrial Average (DIA) climbed 465.83 points, or 1.7%, the S&P 500 (VOO) rose 1.8%, while the tech-heavy Nasdaq Composite (QQQ) was the biggest winner of the day after gaining 2.3%. Trump’s illness, as well as a weak September jobs report, highlighted just how important further coronavirus aid is after a months-long stalemate in Washington. Read the full story here.

2. Nobody likes Mondays, but when Slack’s (WORK) entire network goes down,  leaving hundreds of customers in the dark, you know it’s more than just the usual Monday blues. Once the dust had settled on MyWallSt’s apocalypse-scale reaction to Slack — our only source of communication with one another — going down, we were informed that the issue had been taken care of, but had affected customers worldwide between 10 a.m. and 4 p.m. EST. San Francisco-based Slack has more than 130,000 paid customers around the world and thousands more free users, but has had a rocky year thanks to stiff competition from Microsoft (MSFT). Despite this, its stock is still up 23% year-to-date (YTD). Read more here.

3. Shares in PayPal (PYPL) jumped 2.57% on Monday following the launch of Venmo’s first credit card, which includes scannable QR code and personalized cash-back rewards. The card is only available to random customers for now but will fully launch by 2021 and is expected to bring a new source of credit-based revenue to one of PayPal’s most popular products. “The card gives our customers the same unique Venmo experience they already know and love, in an intuitive, easy-to-use card and rewards program, that’s all seamlessly managed and controlled from the Venmo app,” Darrell Esch, SVP and GM at Venmo, said in the press release. Read more here.

JamieJamie

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