Alibaba Stock Rises 4% on AI Chip Division Restructuring Plans
Stock futures are higher as confidence returns to risk assets and markets rebound sharply from a bout of volatility earlier in the week that saw major indexes plunge as investors reacted to heightened trade-war fears tied to the threat of tariffs on European goods. The turnaround followed comments from President Donald Trump signaling a retreat from those tariff plans and outlining a framework agreement involving Greenland with NATO partners.Gold and silver prices have pulled back from recent records as safe-haven demand eases on the reduced risk of a broader trade conflict, and oil prices stabilized amid calmer macro conditions.In pre-market trading, S&P 500 futures rose 0.58%, Nasdaq futures rose 0.91% and Dow futures rose 0.40%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Alibabaup 4% after Bloombergthat the company is planning to restructure its AI chipmaking division T-Head ahead of a potential IPOGameStopup 3% after disclosing that chairman Ryan Cohen increased his stake in the company to 9.3%, which represents over 42.08M sharesUP AFTER EARNINGS -Interparfumsup 4%Life Time Groupup 3%CACIup 2%DOWN AFTER EARNINGS -Abbottdown 7%McCormickdown 6%Mobileyedown 6%GE Aerospacedown 3%Huntington Bancsharesdown 3%Cadence Bankdown 3%Procter & Gambledown 1%Freeport-McMoRandown 1%
