Major U.S. indices closed over 1% higher on Tuesday as investors digested falling yields a week before the FOMC meeting. The yield on the benchmark U.S. 10-year Treasuries fell to 4.092% from 4.28% as on Oct. 24. Benzinga dives into five stocks that are seeing high interest among retail investors on Tuesday, as the market reflects fresh optimism.
1. Apple Inc AAPL: Meta Platforms Inc META has reportedly criticized Apple for amending its App Store terms to take a portion of social-media advertising revenue, according to a Bloomberg report. Meta said Apple was “undercutting others in the digital economy,” according to the report. Shares of the iPhone maker closed 1.93% higher on Tuesday.
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2. Amazon.com, Inc. AMZN: The retail giant said on Tuesday that it will begin offering Venmo as a new payment option for orders placed on its website and mobile app. Venmo will start rolling out to select customers on Tuesday and will be available to U.S. customers by Black Friday. Amazon shares closed 0.65% higher on Tuesday.
3. Tesla Inc TSLA: A federal judge in San Francisco will hear arguments on Tuesday over whether Elon Musk was intentionally deceitful when, in 2018, he unveiled the proposal of taking Tesla private and said “funding secured” on Twitter, reported Bloomberg. Tesla shares closed 5.29% higher on Tuesday.
4. Snap Inc SNAP: Snap shares closed 15.59% higher Tuesday following their plunge on last week’s earnings release. The company said it would not provide fourth-quarter guidance due to uncertainties in the operating environment but believes that year-over-year revenue growth will likely decelerate as it moves through the fourth quarter.
5. Nio Inc (NYSE: NIO): Chinese EV-maker Nio's shares are trading higher by over 14% in Hong Kong on Wednesday after its U.S. ADRs closed over 12% higher on Tuesday. The rally comes after Hong Kong markets witnessed a bloodbath following President Xi Jinping’s historic re-election.
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