Stock news 6/6/2022: US stocks open higher as tech stocks rally and China reopens

Stock news 6/6/2022: US stocks open higher as tech stocks rally and China reopens

 

US stocks opened higher on Monday ahead of the release of consumer price index data for May this week.



At 9:45 a.m. ET, the Dow Jones was up 250 points, or 0.7%, while the S&P 500 was up 1.2% and the NASDAQ Composite was up 1.4%.



China is easing more restrictions in the wake of Covid-19-related lockdowns - good news for companies that depend on parts and products made there. Additionally, China's tech ADR boomed after a report that regulators in that country may downplay an investigation into ride-hailing service company DiDi Global (NYSE:DIDI), a sign of potential concern. 


It is possible that the technology crackdown could be eased. DiDi increased by 59%. Alibaba Group Holdings Ltd ADR (NYSE: BABA) rose nearly 8% and shares of Baidu Inc (NASDAQ: BIDU) rose 5.6%.



Shares of Spirit Airlines Inc (NYSE: SAVE) rose 3.8% after JetBlue Airways Corp (NASDAQ: JBLU) made an offer to buy the airline. JetBlue shares fell 0.3%.


Shares of Twitter Inc (NYSE:TWTR) fell 4% after Elon Musk said the social media company was trying to block his access to information about fake accounts. The CEO of Tesla (NASDAQ:TSLA), told Twitter in a letter on Monday that the lack of access to the information is believed to be a material breach of the takeover agreement.




Crude oil prices also increased. WTI crude oil futures edged up 0.5 percent to $119.47 a barrel, while Brent crude futures rose 0.6 percent to $120.42 a barrel. Gold futures rose 0.1% to $1,853 an ounce.

VALUATION OF WOMEN WORDS

Based on the valuation method suitable for the starting time of June 7, 2022, the fair prices of warrants being traded on the market are shown as follows:



Note: The opportunity cost in the pricing model is adjusted to suit the Vietnamese market. Specifically, the risk-free bill interest rate (Government bill) will be replaced by the average deposit interest rate of large banks with term adjustment suitable for each type of warrant.

According to the above valuation, CNVL2203 and CPDR2201 are currently the two warrants with the most attractive valuations.


The higher the effective gearing of the warrants, the larger the increase/decrease movements in the underlying security will usually be. Currently, CNVL2203 and CVPB2202 are the two warrants with the highest effective gearing ratios in the market at 11.51 and 8.68 times, respectively.



Economic Analysis & Market Strategy, Vietstock Consulting Department

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