Why Nio, XPeng, and Li Are Leading Wednesday's Stock Market Recovery
The topsy-turvy market action we've seen over the past week continued on Wednesday morning, with many market participants breathing a sigh of relief as stocks looked poised to climb and regain some of their losses from Tuesday. As of 9 a.m. ET, futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 306 points to 34,763. S&P 500 (SNPINDEX: ^GSPC) futures gained 56 points to 4,622, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were up 219 points to 16,369.
It's the first day of the month, and that means Chinese electric vehicle companies are reporting their latest delivery figures. Many investors in the high-growth space watch these numbers closely, and this morning, they're pretty happy with what they're seeing. Below, we'll show why Nio (NYSE: NIO), XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) are all moving higher Wednesday morning.
Image source: Nio.
Source Fool.com