GOOGL - NIO Leads Stock Markets Higher on Strong Vehicle Sales; ADT Gets Googled for Smart-Home Security
The stock market has been on a tear since its March lows, and investors remain optimistic about its prospects to continue to rise. Even with plenty of COVID-19-related concerns, market participants are looking eagerly at Washington to see if another round of massive fiscal stimulus will be forthcoming in the near future. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 132 points to 26,560. The S&P 500 (SNPINDEX: ^GSPC) rose 15 points to 3,287, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 99 points to 10,844.
Chinese electric-vehicle upstart NIO (NYSE: NIO) has captured the attention of growth investors, and its latest results from the month of July lifted its stock significantly. Even bigger gains were in store for home security specialist ADT (NYSE: ADT), which announced a major collaboration with Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google division to add a high-tech element to its offerings.
Shares of NIO climbed almost 11% on Monday morning. Shareholders reacted positively to the latest news from the Chinese electric-vehicle company, which released its July delivery figures.