The stock market has had a tough go lately, with a sad September performance that saw major market benchmarks fall 4% to 5%. Yet on the first day of October, investors looked a little bit more upbeat. Just before 8 a.m. EDT, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 143 points to 33,865. S&P 500 (SNPINDEX: ^GSPC) futures moved higher by 16 points to 4,314, and the futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) had picked up 49 points to 14,731.
It's the first day of the month, and that means that China's major electric vehicle manufacturers were out overnight with their latest delivery numbers. Demand for EVs in China has been strong, and shares of popular Chinese automakers gained ground following their respective releases. The question U.S. investors have is whether Tesla (NASDAQ: TSLA) , which reports its delivery numbers quarterly, will prove to have had just as much success when it makes its own announcement.
Chinese EV manufacturer stocks were up across the board. XPeng (NYSE: XPEV) had the largest gain, rising almost 4% in pre-market trading. Nio (NYSE: NIO) also rose nicely with a 3% gain, and Li Auto (NASDAQ: LI) managed to post a 2% rise before the market opened for regular trading.
For further details see:
China's EV Makers Saw Monster Deliveries. Will Tesla Follow Suit?