Stock Market News: Baidu Gets a Big Bump; Will Booking Holdings Disappoint?
Trade negotiations between the U.S. and China have gotten a lot of attention from investors, and successive rounds of tariffs in recent months have made market participants uncertain about the future. That explains a big part of why the market reacted favorably to news that China would consider removing some tariffs gradually as negotiations continue. As of 11:10 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 230 points to 27,723. The S&P 500 (SNPINDEX: ^GSPC) rose 17 points to 3,094, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was higher by 66 points to 8,476.
Chinese search engine giant Baidu (NASDAQ: BIDU) has seen its stock struggle for a while now, and trade issues haven't been the only challenge the company's faced. However, a favorable report from Baidu helped lift its shares. Meanwhile, disappointing results elsewhere in the online travel sector hurt Booking Holdings (NASDAQ: BKNG), yet some have high hopes that Booking's financial report due out later today will defy naysayers once again.
Shares of Baidu climbed almost 12% after the Chinese tech company announced its third-quarter financial results. Even though many of Baidu's numbers didn't look pretty, investors seemed to see the report favorably.
Source Fool.com