Why JD.com, MercadoLibre, and Sea Limited All Surged Today
Shares of JD.com (NASDAQ: JD), MercadoLibre (NASDAQ: MELI), and Sea Limited (NYSE: SE) all bounced strongly on Thursday -- up 10.4%, 5.7%, and 5.1%, respectively, as of 2:15 p.m. ET.
Given that Wall Street is in a quiet period before earnings season kicks off again and there was a broad synchronous move in these stocks, macroeconomic factors likely played a part. In this case, it looks as if the higher-than-expected weekly U.S. jobless claims reported Thursday may be causing investors to reassess their expectations about the pace at which the Fed will raise benchmark interest rates this year. Less aggressive hikes would benefit growth stocks. In addition, China's central bank actually cut interest rates last night, which is perhaps why JD.com rose even more than those other tech stocks.
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