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Why, Baidu, and Intel Shares are Rising

The Dow Jones Industrial Average (DJINDICES: ^DJI  )  had risen more than 61 points as of 11:30 a.m. EDT, standing just over 100 points away from the 17,000 mark. Intel (NASDAQ: INTC  ) was one of the Dow Jones' best-performing components, while other tech stocks, notably Chinese Internet giants (NASDAQ: JD  ) and Baidu (NASDAQ: BIDU  ) , also experienced notable moves to the upside.

Adding more jobs
The Bureau of Labor Statistics on Friday said the U.S. economy added 217,000 jobs last month, just a hair less than the 218,000 that economists had expected.

Although unemployment is still elevated, remaining at 6.3% in May, a stronger labor market is a positive sign for the U.S. economy, and by extension, its stock market.

Source: Wikimedia Commons.

Intel aims to eliminate wires
Intel was outperforming the Dow Jones on Friday, rising more than 1.5% in early trading. The chip giant has had a strong week for product announcements, possibly exciting investors who expect the company to succeed in a more mobile-focused computing space.

Earlier this week, Intel unveiled a new reference design that would enable its OEM partners to build devices that combine the best features of tablets and Ultrabooks. On Wednesday, it set an ambitious goal to eliminate PC wires entirely within the next two years (power and other cables would be replaced with wireless solutions). continues to rally
Recent IPO continues to move higher, rising more than 3.6% Friday morning. On Thursday, the e-commerce company rallied after it announced a successful push into Chinese social media. Embedded links in WeChat, a popular messaging platform, produced elevated transaction volume, according to the company.

WeChat is owned by Tencent, another Chinese tech giant that owns a minority stake in That tie-up is looking fruitful for, and therefore its investors, who may have carried the momentum from Thursday into Friday.

Of course, the move is hardly surprising in light of the fact that has become something of a momentum stock. Since its IPO less than one month ago, shares of are up nearly 30%.

Baidu moves higher
Shares of Baidu, another Chinese Internet giant, rose more than 3% Friday. There wasn't much news to explain Baidu's rally. Like, Baidu is prone to wild moves -- over the last 12 months, it has swung between a high of $189 and a low of $88.

It was likely moving higher on Friday in tandem with Indeed, most Chinese Internet stocks were rising on Friday, though and Baidu were the best performers.

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Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

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Sam Mattera

Sam has a love of all things finance. He writes about tech stocks and consumer goods.

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Related Tickers

9/1/2015 4:35 PM
^DJI $16058.35 Down -469.68 -2.84%
BIDU $143.57 Down -3.68 -2.50%
Baidu CAPS Rating: ****
INTC $27.82 Down -0.72 -2.52%
Intel CAPS Rating: ****
JD $24.88 Down -1.00 -3.86% CAPS Rating: **