Pinduoduo (PDD) stock jumped 15% in the pre-market after quarterly results. The company reported much higher earnings per share of 8.62 instead of 4.79. The forecasted revenue for Q3 was $30.71 billion, but the firm surprised the market with $35.5 billion revenue.

Several stock indices had a relief rally, taking S&P 500 15.5% higher and Nasdaq 12.5% up from their local bottoms. The upcoming Christmas suggests the uptrend may continue due to the historic “Santa Claus Rally.” This could take S&P 500 above 4,100 and Nasdaq above 12,200 if history repeats itself. However, dangerous levels are in the way.

The German stock index DAX has been rising for eight weeks in a row. The growth started in early October, fueled by signals from central banks that rate hikes won’t be that aggressive anymore. Meanwhile, the German GDP jumped 0.4% from 0.1% in the last quarter. DAX is up almost 23% in less than two months.

Medtronic (MDT) stock dropped 5% in the pre-market after releasing its financial results. The anticipated 1.28 EPS was beaten with 1.3, but revenue declined. Quarterly revenue is $7.6 billion instead of forecasted $7.7 billion.

Disney (DIS) stock soared 9% to $100 in early trading hours on Monday. The stock rose after Disney announced that former CEO Bob Iger would return to lead the company again with an immediate validity.

The social platform Grindr had an IPO on Friday on the New York Stock Exchange. Grindr started trading at $16.9 per share under its new ticker, GRND, soaring to a high of $71.5 during the session. When the market closed, the stock price more than doubled to $36.50.

The Canadian dollar weakened above $1.35—a level not seen since early November after the GDP results. The Canadian economy increased by 2.9% annually in Q3 of 2022, beating expectations for a modest 1.5% growth.

Spain’s annual inflation fell to 6.8% in November 2022, moving further away from July’s 38-year high of 10.8%. Inflation remained below market expectations at 7.4%. The slowdown in the inflation rate was mainly led by declines in the cost of fuel and electricity.

After going down for eight months, the EU economic sentiment indicator went up by one point in November 2022 to reach 93.7. The result slightly exceeded forecasts of 93.5, but it remained close to its lowest level in two years. Rising interest rates, high inflation, and a worsening energy crisis during the winter all put a damper on sentiment.

BlockFi officially filed for bankruptcy on Monday. It has become the latest crypto company crippled by the collapse of FTX. It was functioning since 2017 with more than 450,000 clients.

Pinduoduo (PDD) stock jumped 15% in the pre-market after quarterly results. The company reported much higher earnings per share of 8.62 instead of 4.79. The forecasted revenue for Q3 was $30.71 billion, but the firm surprised the market with $35.5 billion revenue.

WTI crude oil fell more than 3% below $74, the lowest price in one year. Widespread protests in China over its strict zero-Covid policy hurt investor confidence and the outlook for demand. Oil prices were also pushed down by reports that the US had granted Chevron Corp permission to restart oil production in Venezuela.