Written by Brenda Nakalema

Alibaba, Boeing, NIO, and Other Stock Market Movers Today

Stock futures were trading at lower levels on Monday as recession fears remained at the top of investors’ minds. S&P …

UBS predicts continues rise for the stock market, lists profitable stock options for investors

Stock futures were trading at lower levels on Monday as recession fears remained at the top of investors’ minds. S&P 500 futures declined by 0.2%, and Dow Jones Industrial Average futures dropped 0.1%. Nasdaq Composite futures dropped 0.3%.

Here’re some of the stocks making noteworthy moves in the premarket session.

Alibaba (ticker: BABA) increased by 1.7% as investor sentiment improved following the release of a statement by the Chinese tech giant in response to the possibility of being delisted by the Securities and Exchange Commission. The company announced that it would “strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange.”

Shares of Boeing (ticker: BA) climbed by 5.2% after the plane manufacturer received approval for its plans for validating repairs to the 787 Dreamliner from regulators; also, the company narrowly escaped a strike at three of its plants that make military gear.

Chinese electric vehicle makers released reports regarding deliveries for July on Monday, which, when combined, declined from June’s records. The stocks, however, maintained a positive performance; NIO (ticker: NIO) climbed 3.5%, Xpeng (ticker: XPEV) gained 2.9%, and Li Auto (ticker: LI) gained 3.5%.

Oil stocks fell lower amidst news that the Democrat’s climate change measure might cost oil companies as much as $25 billion. Exxon Mobil (ticker: XOM) dropped 0.8%, Chevron (ticker: CV) lost roughly 0.4% and Shell (ticker: SHEL) was down 0.2%.

Global Payments (ticker: GPN) gained 3% following the announcement by the payment company that it would acquire EVO Payments (ticker: EVO) for $34 a share in cash. EVO climbed 19%. Global Payments went on to report adjusted earnings for its second quarter that surpassed Wall Street estimates.

Valvoline (ticker: VVV) stock gained 2.4% on Monday after the company announced it had reached a final agreement to sell its global products business to Aramco for $2.65 billion.

Target (ticker: TGT) climbed 2% following a stock upgrade from Equal Weight to Overweight by an analyst at Wells Fargo.

Clothing retailer American Eagle Outfitters (ticker: AEO) dropped 1.3% following a stock downgrade by an analyst from Outperform to Perform.