1. These 3 Stocks Rallied +3.5% Overnight. Here’s What Happened…
Amid ongoing trade tensions and upcoming earnings reports, some stocks present a lot of opportunities as they become ever more volatile. We saw three overnight gainers this morning with Wirecard (WDIG), Expedia (EXPE) and Debenhams (DEB) finishing their respective sessions 3.5% higher. Specifically, Expedia Group Inc. (EXPE) finished the day 3.44% higher on Friday to close at $128.82. The bull run may continue today as analysts have pointed to strong earnings at $3.17 per share for the current quarter. Debenhams (DEB) shares finished Friday’s sessions 5.5% higher after a long bearish session on Thursday. The ailing retail giant is currently attempting to tighten the belt with more than 200 job cuts. Finally, Wirecard (WDIG) shares continued on their long 2-year rally to add more than 4.3% overnight on Friday and finish the week at 192.45 EUR.
2. Dollar Continues to Undermine Its Peers Amid Increasing Trade Tensions
The dollar edged higher against a basket of currencies on Monday thanks to strong U.S. August jobs data and amid fears of a potentially major escalation in the China-U.S. trade conflict. U.S. President Donald Trump warned on Friday that he was ready to slap tariffs on virtually all Chinese imports coming into the United States, threatening duties on another $267 billion of goods. The dollar index, which measures the greenback against a basket of six currencies, is currently moving toward a three-week high of 95.737 hit on Tuesday last week.**
3. 6.3% Lower Overnight? What Is Happening To Tesla?
Tesla shares (TSLA) tumbled to their lowest level since June on Friday, finishing the day 6.3% lower to close at $263.24. But what happened exactly? Tesla Inc.’s stock appears to have sank on its CEO’s, Elon Musk’s’ latest shenanigans. The shares slid to a fresh low after the electric-car maker’s chief accounting officer quit suddenly after about a month in the job and Chief Executive Elon Musk appeared to smoke a joint during a filmed interview!***
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*Source: BBC news Sept 10, 2018 / 1:02 AM
**Source: Reuters Sept 10, 2018 / 3:35 AM
***Source: Business Insider Sept 9, 2018 / 3:47 PM