© Reuters
Investing.com — U.S. stocks were rising despite a weaker-than-expected jobs report and renewed fears that the Federal Reserve will continue to raise interest rates.
Here are some of the biggest U.S. stock movers today:
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Meta Platforms (NASDAQ:) stock rose 0.1% despite Twitter reportedly threatening to bring legal action against the Facebook owner over its new Threads app, launched earlier this week as a “friendly” alternative to Twitter.
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Tesla (NASDAQ:) stock rose 0.8% after Bloomberg reported that the electric vehicle manufacturer has started laying off some battery production workers at its Shanghai plant.
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Alibaba (NYSE:) ADRs rose 8.8% following a Reuters report that the Chinese government will slap a fine of around $1 billion on Ant Group, bringing an end to the affiliate fintech company’s years-long regulatory overhaul.
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Levi Strauss (NYSE:) stock fell 6.6% after the jeans manufacturer cut its annual profit forecast, in a sign that higher costs were weighing on its margins as it struggles with falling sales.
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Rivian Automotive (NASDAQ:) stock jumped 15% after Wedbush raised its price target on the EV manufacturer to $30 from $25, maintaining its ‘outperform’ rating as the production ramp and cost optimization efforts are both expected to translate into better earnings.
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Fisker (NYSE:) stock rose 6.9% after the electric vehicle startup missed its production target for the second quarter due to a shortage of components.
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Zoom Video Communications (NASDAQ:) stock rose 2% after the video communications company sees strong growth in the Asia-Pacific region despite a weaker outlook.
—Peter Nurse contributed to this report
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