By Barbara Kollmeyer
U.S. President Joe Biden and Chinese leader Xi Jinping are reportedly set to meet virtually before the end of the year.
Levi /zigman2/quotes/204763189/composite LEVI -6.36% stock is jumping, after the denim giant beat on earnings and hiked its full-year outlook.
Rocket Lab shares /zigman2/quotes/222592018/composite RKLB -17.40% are climbing, after the aerospace and satellite service provider announced a NASA deal .
Weekly jobless claims totalled a lower-than-expected 326,000. The data comes a day ahead of closely watched September payroll numbers that are expected to show a gain of about 500,000 jobs .
In the first blow to the most restrictive abortion law in the U.S., a federal judge has ordered Texas to suspend Senate Bill 8.
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The markets
U.S. stocks /zigman2/quotes/210598065/realtime DJIA -3.38% /zigman2/quotes/210599714/realtime SPX -3.89% /zigman2/quotes/210598365/realtime COMP -4.65% are higher in early trading and the yield on the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -2.50% is up 2 basis points at 1.546%. Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.20% jumped 2.8%, with a rally for Chinese Estates /zigman2/quotes/202301422/delayed HK:127 +0.46% — formerly a big shareholder of troubled China Evergrande /zigman2/quotes/208605330/delayed HK:3333 +8.55% — after an offer to go private.
Oil prices /zigman2/quotes/209723049/delayed CL00 -2.46% are slipping, along with natural-gas prices , following Tuesday’s Russia-driven big drop.
Bitcoin’s /zigman2/quotes/31322028/realtime BTCUSD -3.38% is hovering just under $55,000 as a recent run of strength continues.
The chart
Buy the dip is alive and well — to a point, say senior strategist Ben Onatibia and analyst Giacomo Pierantoni at VandaTrack, a tracker of individual investor purchases.
Retail investors have continued to buy market downturns this week, but continue to get price sensitive. “They buy large quantities when the S&P sells off by more than 1%, but they buy very little when stocks fluctuate between -1% and 1% (chart below). That’s another way of saying that institutional selling faces little resistance from retail investors, unless the selloff reaches dramatic proportions,” says the team.
Random reads
Meet Otis, Alaska’s three-time fattest bear champ .
Facing a shortage of key workers, fast-food chain Raising Cane sent its corporate staff to the front lines .
Welcome back, Carnegie Hall.
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