NEWS
The Stock Market Boom Goes Global

It was a turnaround Tuesday for Chinese equities after the country unveiled stimulus measures to help it keep pace with the rest of the world’s growth. In the U.S., several big tech stocks buoyed the major indexes to new record highs after an early-day selloff. 👀

Today's issue covers China unveiling a major stimulus package, Visa becoming the DOJ’s next victim, and StitchFix still needing fixing. 📰

Here’s the S&P 500 heatmap. 6 of 11 sectors closed green, with materials (+1.37%) leading and financials (-0.84%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $VBFC, $XHG, $PRGS, $LNW, $WVE 📉 $SFIX, $THO, $PTN, $HRTX, $AMGN*

*If you’re a business and want to access this data via our API, email us.

STOCKS
China Says It Won’t Be Left Behind 😠

The world’s second-largest economy and its stock market have failed to keep pace with the rest of the world since the pandemic ended, with its government finally deciding “enough is enough.”

China’s central bank unveiled its largest stimulus plan since the pandemic to renew growth and avoid a deflationary spiral. The package offers more funding via interest rate cuts, lower capital requirements for banks, and special funds to buy stocks and facilitate stock buybacks. And officials signaled more could be coming if the economy doesn’t respond. 💰

Chinese stocks, which the Stocktwits community has been quietly bullish on, caught a major bid on today’s news. Individual stocks like Alibaba jumped, while broad-based China ETFs like $FXI soared to more than one-year highs as sentiment pushed into ‘extremely bullish’ territory. 😮

Despite the strong initial reaction, some analysts cautioned investors to temper their expectations. They warned that monetary stimulus cannot fix the economy’s issues on its own, suggesting that fiscal support will also be needed to reverse weak credit demand from businesses and consumers.

Time will tell if these measures can reinvigorate the economy. But in the short term, the stimulus is viewed as a major positive for stocks and is likely to remain on traders’ radars in the days and weeks ahead. 👀

STOCKTWITS “CHART ART”
Bristol Myers Gets A Boost Amid Turnaround Story 💉

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