U.S markets are headed for a good start to the day. They are already in the green pre-market and are in line with European stocks that have been trading in positive territory for the better part of the day. This follows news that the Chinese economy was getting stronger despite the COVID-19 pandemic. Stocks in China, and across the world are rallying after news that the Chinese government is looking into ways for institutional investors to draw in more funds in the foreseeable future. Data from China also shows that the country’s tourism sector has rebound with the country in full control over the COVID-19 pandemic. The effect that Chinese data has on the markets has a lot to do with the impact of the Chinese economy on the world economy. China has the second-largest economy in the world, and it exports lots of products to the world. Therefore, when China shows signs of growth, it points to resilience in the global economy, and it inspires optimism in the U.S and across the world. Besides data from China, U.S markets are still riding on the momentum that built up last week over a possible stimulus package. There are hopes that such a deal could be arrived at before Christmas and help uplift businesses, and basically get the economy rolling again. Increased hopes of a COVID-19 vaccine coming out any time soon is also likely to keep U.S markets going strong in the short-term. Under current circumstances, there are several stocks that look set to rally all through the day, going by their pre-market price action. Some of the big gainers pre-market that are likely to keep gaining all through the day are as below:
Medley Management Inc [NYSE: MDLY]
Medley Management Inc is a top performer pre-market and is up by over 200%. This follows news late last week that the company had its MCC Senior Loan Strategy JV portfolio. The sale was made to a fund managed by Golub Capital LLC for $156.4 million.
RedBall Acquisition Corp [NYSE: RBAC-UN]
RedBall Acquisition Corp is a top performer this morning and is up by over 10% at the time of writing. This follows the company’s announcement a week ago that it had started the separate trading of class A shares and warrants. This has created lots of excitement around the stock since then.
Borqs Technologies Inc [NASDAQ: BRQS]
Borqs Technologies Inc in the green pre-market and is up by over 8%. This comes days after the company reported its full-year results, and also announced that it had regained compliance to the NASDAQ listing rules. Stocks to Watch as Chinese Data Drives Market Optimism