Nio (NIO) stock appears stuck around the $9 price level, close to the 21-day Simple Moving Average (SMA) on Thursday. Initially, NIO shares advanced
NIO stock has stalled out near $9, right at the 21-day simple moving average. September US CPI report showed a slight pickup in headline inflation. Nio stock is having difficulty recovering from a 17% plunge following its decision to raise $1.5 billion from convertible bonds. Equity futures including the NASDAQ 100 advanced 0.4% prior to the CPI release but lost half their gains after inflation arrived above consensus.
and Dow Jones futures all rallied in the premarket as many view the week’s advances as likely to continue. However, equity futures were cut in half after the US CPI data made its debut, and the NASDAQ 100 futures pared gainsfrom 0.4% to 0.2%. Nio stock news: Higher headline inflation a bad sign for stocks Core inflation, the measure that excludes more-volatile energy and food prices, was reported in line with consensus. Economists correctly estimated that the September core CPI rose 0.
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