TCOM - Here's What's Helping Stocks Take Flight on Tuesday
The stock market moved higher on Tuesday morning, with broad-based gains that spanned Wall Street. As of 7:30 a.m., futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were up half a percent, in line with other major market benchmarks and taking the near-month futures contract to 12,107.
One macroeconomic factor that has played a key role in driving uncertainty among investors is the fact that China's zero-COVID policy has weighed on economic activity in the world's second-largest economy. However, a recent policy change could finally bring some relief on that front, and it's particularly good news for a Chinese online travel portal that gave its latest earnings report late Monday.
Shares of Trip.com Group (NASDAQ: TCOM) were up more than 15% in premarket trading on Tuesday. The move came after the travel specialist reported its financial results for the first quarter of 2022.
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Here's What's Helping Stocks Take Flight on Tuesday