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<ul class="summary-list"><li><keyword id="11911439" type="UNKNOWN" weightage="60" keywordseo="nio" source="Orion">Nio</keyword> stock fell more than 5% Monday following a drop in October vehicle deliveries. </li><li>October deliveries fell 27.5% from a year ago and slumped by 65% from September. </li></ul><a href="https://markets.businessinsider.com/stocks/nio-stock?utm_source=markets&amp;utm_medium=ingestgest">Nio</a> stock declined Monday after the electric vehicle maker said deliveries slumped in October amid upgrades to manufacturing lines and supply-chain issues. The Chinese multinational posted a 27.5% drop in deliveries to 3,667 on a year-over-year basis. The total also marked a 65% slide from September, when it delivered a monthly record of 10,628 units. Nio stock fell as much as 5.5% to $37.23 in premarket trade before paring the loss to 3.3%. October deliveries were "significantly impacted" by restructuring and upgrades of manufacturing processes that resulted in lower production volume, Nio said in a statement. Just 218 of its ES8 SUVs were delivered, with production resuming toward the end of the month.The company said it's been preparing factory lines to introduce new products. It also cited "certain supply chain volatilities" as a reason for the slump in October deliveries."Despite the production and supply chain challenges, the company's new orders reached another all-time high in October driven by increasing user demand," Nio said in Monday without specifying the number of orders. The company previously warned semiconductor supply constraints would in part hurt deliveries for the third quarter but it managed to roll out 24,439 vehicles, surpassing the top end of its guidance. The ongoing chip shortage could lead <a href="https://www.businessinsider.com/global-chip-shortage-supply-chain-cost-auto-industry-210-billion-2021-9">global automakers to lose $210 billion in revenue this year</a>, with consulting firm AlixPartners last month nearly doubling its previous sales-loss estimate for the industry from $110 billion. Nio stock has lost roughly 19% during 2021 after notching a nearly 30% rise early in the year.

Nio falls as electric vehicle deliveries slide nearly 30% in October on reduced production

<ul class="summary-list"><li>Nio shares fell Wednesday after the electric-vehicle maker reduced its third-quarter delivery guidance. </li><li>The Chinese automaker cited "continued uncertainty and volatility of semiconductor supply" as a reason for cutting its outlook. </li><li>Nio expects to deliver 22,500 to 23,500 vehicles in the third quarter, down from its previous range of 23,000 to 25,000 units. </li></ul><a href="https://markets.businessinsider.com/stocks/nio-stock">Nio</a> shares declined as much as 5% on Wednesday after the Chinese electric-vehicle maker lowered its third-quarter outlook for deliveries because of semiconductor supply constraints. The company now expects to deliver 22,500 to 23,500 vehicles in the third quarter, down from its previous outlook of 23,000 to 25,000 units. The global automotive industry has been <a href="https://markets.businessinsider.com/news/commodities/supply-chains-chip-shortage-auto-semiconductor-sectors-ford-toyota-tsmc-2021-08">plagued by a chip shortage and supply constraints</a> for more than a year, prompting other car manufacturers including <a href="https://markets.businessinsider.com/stocks/tm-stock">Toyota Motor</a> and <a href="https://markets.businessinsider.com/stocks/f-stock">Ford Motor</a> to reduce production at their factories. Nio also said Wednesday it delivered 5,880 vehicles in August, representing year-over-year growth of 48.3%."While the company's new order reached an all-time high in August driven by the increasing demand, the vehicle production, especially the manufacturing of the ES6 and EC6, was materially disrupted by <keyword id="12002865" type="UNKNOWN" weightage="60" keywordseo="supply-chain-constraints" source="Orion">supply chain constraints</keyword> resulting from the COVID-19 pandemic in certain areas in China and Malaysia," it said.After seeing torrid gains to start 2021, Nio's stock is now down nearly 20% year-to-date.<div type="image" title="nio stock chart 9-1-21" height="641" width="792" msid="85834506" hostid="261"></div>

Nio drops after cutting its 3rd-quarter vehicle-delivery outlook due to supply-chain pressure

<ul><li><a href="https://markets.businessinsider.com/stocks/db-stock">Deutsche Bank</a> lifted its profit and sales forecasts for the Chinese electric-car manufacturer <a href="https://markets.businessinsider.com/stocks/nio-stock">Nio</a> on Tuesday, citing the company's promising move into the premium-autos sector.</li><li>In a note on whether <keyword id="180384" type="ORGANIZATION" weightage="60" keywordseo="NIO">Nio</keyword> could be "the next iconic auto brand," analysts led by Edison Yu described growing favorability in the expanding Chinese market.</li><li>One recent study found that Nio boasted higher customer-referral odds in the country than <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, BMW, and Mercedes-Benz.</li><li>Deutsche Bank reiterated its "buy" rating and $24 target price for Nio shares. The target implies a 28% leap from Monday's closing level over the next 12 months.</li><li><a href="https://markets.businessinsider.com/stocks/nio-stock">Watch Nio trade live here</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/nio-stock">Nio</a> may not have the intense following enjoyed by the industry leader <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, but <a href="https://markets.businessinsider.com/stocks/db-stock">Deutsche Bank</a> thinks the electric-car manufacturer can quickly dominate the expanding Chinese market.In a Tuesday note delving into whether the company could become "the next iconic auto brand," analysts led by Edison Yu highlighted Nio's growth in the competitive electric-vehicle market. For one, sales are trending higher. The team projected record third- and fourth-quarter deliveries and raised its estimates for full-year sales and earnings.As adoption of battery-powered <keyword id="6354973" type="UNKNOWN" weightage="60" keywordseo="electric-vehicles">electric vehicles</keyword> "increases and word of mouth spreads, we believe Nio can take material share in the premium segment as consumers begin to understand the value proposition and quality of its products and services," Deutsche Bank said.Read more: <a href="https://www.businessinsider.com/investing-advice-best-hedges-defensive-assets-portfolio-shifts-john-normand-2020-9">JPMORGAN: The best defenses against stock-market crashes are delivering their weakest results in a decade. Here are 3 ways to adjust your portfolio for this predicament.</a>The lifted forecast backs the firm's "buy" rating and $24 price target for Nio shares. That target implies a 28% rally from Nio's Monday closing level over the next 12 months.Nio gained as much as 7% following the note's release.Some investors balked at the bank's bullish outlook earlier in the month, saying Nio doesn't boast the same loyalty in China as other luxury automakers. There is some truth to such criticisms "given Nio is an upstart," the analysts said, but the bank continues to find "compelling evidence" that Nio is increasingly viewed as a player in the luxury-autos space.Nio's average customer-referral rate jumped to 62% in the first half of 2020 from 52% last year, according to the bank. Separately, a recent study by China's leading automotive web portal found that Nio had a higher referral rating in China than Tesla, BMW, and Mercedes-Benz, despite being just six years old.Nio's standing in the Chinese market is already translating to more sales. The automaker boosted its monthly production capacity to 5,000 in September after selling out vehicles produced in August. Third-quarter deliveries are set to reach 11,500, the analysts said, landing above the high end of the company's own guidance.Nio will still need to face off with other young Chinese rivals, but Deutsche Bank said it was confident the firm would lead the pack."With the China EV market already the world's largest and now inflecting upward after the recent downturn, we believe Nio is well positioned to take share in the premium segment," the team said.Nio traded at $19.92 per share as of 12:40 p.m. ET. The company has three "buy" ratings, five "hold" ratings, and two "sell" ratings from Wall Street analysts.Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/consumer-confidence-surges-economic-recovery-hopes-stimulus-conference-board-2020-9">US consumer confidence soars the most in 17 years as recovery optimism rebounds</a><a href="https://markets.businessinsider.com/news/stocks/stock-market-debate-democratic-election-sweep-lift-corporate-profits-goldman-2020-9-1029630909">A Democratic sweep could have a 'modestly positive' impact on corporate earnings, Goldman Sachs says</a><a href="https://www.businessinsider.com/investing-strategy-4-dividend-stocks-to-buy-thornburg-ceo-brady-2020-9">The CEO of a $41 billion money manager says there will be 'bountiful buying opportunities' with higher volatility heading into year-end — and shares 4 high-dividend-paying stocks to play this market</a><a href="https://markets.businessinsider.com/stocks/nio-stock"><div type="image" title="NIO" height="1104" width="1430" msid="78392023" hostid="261"></div></a>

Tesla competitor Nio can surge another 28% amid transformation into 'next iconic auto brand,' Deutsche Bank says

<ul><li>Nio has surpassed General Motors in market value, as investors continue to bet on the long term outlook of electric vehicle manufacturers.</li><li>Nio's market cap of more than $56 billion on Thursday was more than General Motor's $53 billion. </li><li>Shares of Nio have surged this week after the Chinese electric vehicle maker said it delivered a record 5,000 cars in the month of October.</li><li><a href="https://www.businessinsider.com/international?r=US&amp;IR=T?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/nio-stock">Nio</a> is now worth more than <a href="https://markets.businessinsider.com/stocks/gm-stock">General Motors.</a>The Chinese-based electric vehicle company had a market capitalization of more than $56 billion on Thursday, compared to General Motor's market capitalization of $53 billion. While the two companies now sport a similar valuation, the size of their underlying businesses are far apart.Nio has cumulatively <a href="https://markets.businessinsider.com/news/stocks/nio-stock-price-record-doubles-car-deliveries-in-october-2020-11-1029753837">delivered just 63,343 of its current model line up</a> of 3 electric vehicles, with the first vehicle going on sale in 2018. <a href="https://markets.businessinsider.com/stocks/gm-stock">General Motors</a> sold 2.9 million cars and trucks in 2019 alone.The widening gap between valuations and underlying car deliveries at the two companies illustrates just how much of a premium investors are willing to pay for a company that's focused solely on electric vehicles. This trend was first set by Tesla, who has seen a meteoric rise in value in 2020 as it successfully ramped up the production of its electric vehicle model line up to nearly half a million cars per year despite the COVID-19 pandemic. Read more: <a href="https://www.businessinsider.com/buy-and-hold-real-estate-investing-from-mcdonalds-to-multimillionaire-2020-11?r=gr-sub" target="_blank" rel="noopener">From flipping burgers at McDonald's to a self-made multimillionaire: How Willie Mandrell leveraged a simple real-estate investing strategy to acquire 40 units and achieve financial freedom</a>General Motors has taken note. The company recently <a href="https://www.businessinsider.com/gm-why-electric-car-skeptics-should-buy-hummer-ev-2020-10">unveiled its electric powered Hummer,</a> and is in <a href="https://markets.businessinsider.com/news/stocks/nikola-stock-price-general-motors-confirms-potential-partnership-talks-ongoing-2020-11-1029771935">ongoing discussions to potentially partner</a> with <a href="https://markets.businessinsider.com/stocks/nkla-stock">Nikola</a> and manufacture its Badger pickup truck. Wall Street analysts are buying into the growth potential of Nio. The firm received a price target hike from Citi to $46.40 on Thursday, representing potential upside of 23% from Thursday's close.And last month, <a href="https://markets.businessinsider.com/news/stocks/nio-stock-price-upgrade-tesla-rising-tide-boats-buy-jpmorgan-2020-10-1029680089#">JPMorgan said it expects</a> Nio "to be a long term winner in the premium space among Chinese brands" as Tesla's success in China represents a "rising tide lifts all boats" phenomenon. Whether Nio is able to sustainably hold its market value edge over General Motors will be determined over time. In June, Nikola Motor Corp. <a href="https://markets.businessinsider.com/news/stocks/nikola-stock-market-value-soar-past-ford-fiat-chrysler-surpass-2020-6-1029298004#:~:text=Based%20on%20Nikola's%20402.9%20million,according%20to%20data%20from%20YCharts.">briefly surpassed Ford</a> in market capitalization for no longer than a couple of days. Shares of Nio surged as much as 11% to record highs in Thursday trades.<div type="image" title="nio stock.JPG" height="641" width="849" msid="79071869" hostid="261"></div>

Nio joins Tesla in the ranks of electric-vehicle makers worth more than General Motors as Wall Street sees major upside

<ul class="summary-list"><li>Germany's automotive industry is facing an increasingly difficult outlook.</li><li>Volkswagen may close factories in Germany for the first time, and BMW and Mercedes-Benz are struggling.</li></ul>Germany's car giants were once the envy of the world, but now find themselves facing a myriad of threats.BMW and Mercedes-Benz have issued profit warnings in recent weeks amid <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">slumping EV sales in Europe</a> and <a target="_blank" class="" href="https://www.businessinsider.com/chinas-electric-vehicle-market-could-face-a-brutal-reckoning-2024-5">brutal competition in China</a>, while Volkswagen is <a target="_blank" class="" href="https://www.businessinsider.com/volkswagen-considers-closing-factories-germany-job-salary-cuts-autos-2024-10">also facing a reckoning</a>.On Wednesday VW said net profit for the three months to September 30 plunged by almost 64% to 1.57 billion euros, with a 30% decline to 12.8 billion euros for the first nine months of the year. A 4% rise in vehicle sales in North America and 16% growth in South America for the nine months was offset by a 1% decline in western Europe and a 12% slide in China — VW's biggest market outside Europe. It now expects to deliver about nine million vehicles this year, or about 240,000 fewer than 2023.Volkswagen is seeking to cut billions in costs after issuing two profit warnings in three months. On Monday, its top union official said the company was planning factory closures in Germany for the first time, along with pay cuts and layoffs. The Golf and Polo maker is one of Germany's biggest employers with about 300,000 workers.Mercedes-Benz is also <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">pursuing "cost improvements"</a> after last week's lackluster earnings, while BMW stock has been hit by the recall of some <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bmw-recalls-1-5-mln-vehicles-over-braking-system-issue-1033765005">1.5 million cars over a braking issue</a>.<div type="image" title="New Volkswagen cars at a factory" height="2574" width="4625" msid="114777386" hostid="261" sizebytes="794156"></div><h2 id="58206ab8-4040-4a0f-ac1e-b07e60c53b6a">Fight for survival in China</h2>All three giants face a similar problem: they're no longer selling enough cars in China, the world's largest car market and a one-time cash cow for European automakers. About 21.7 million new vehicles were sold in China last year, per the China Passenger Car Association figures, compared with about 15.6 million in the US and 10.5 million in Europe.Like VW, BMW and <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">Mercedes</a> also reported a slide in sales in China in the third quarter, amid waning demand for luxury vehicles and the growing dominance of Chinese EV makers.<div type="image" title="BYD Yangwang U8" height="4093" width="6140" msid="114777389" hostid="261" sizebytes="1395046"></div>Helena Wisbert, professor of automotive economics at Ostfalia University in Germany, told Business Insider: "BMW and Mercedes are selling fewer cars, because the new players in the market for EVs have become really competitive, especially in China."Wisbert said that German manufacturers have failed to anticipate the changing behavior of Chinese consumers and diversify their product lines. She added that Mercedes, BMW, and Volkswagen offer comparatively few hybrid and <a target="_blank" class="" href="https://www.businessinsider.com/extended-range-electric-vehicles-erev-gas-generator-range-anxiety-2024-8">extended-range vehicles</a> — categories that have proven extremely popular in China.European carmakers are under intense pressure from Chinese rivals such as <a target="_blank" class="" href="https://www.businessinsider.com/ev-electric-vehicle-china-brands-byd-nio-wuling-zeekr-geely-2023-5">BYD, Nio, and Xiaomi</a>, which offer luxurious EVs vehicles with better <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-makers-battle-for-market-dominance-with-smart-features-2024-5">software experiences</a> — and all at far lower prices.<div type="image" title="Chinese customers assess the Xiaomi SU7 at a flagship store in Shanghai, China." height="2800" width="4200" msid="114777392" hostid="261" sizebytes="344146"></div>To make matters worse, some Chinese automakers are now eyeing expansion in Europe, even with <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">the European Union planning tariffs on BYD and its rivals</a>.Wisbert said the brand strength of BMW and Mercedes in Europe gave them a crucial advantage over Chinese interlopers — but added that VW would likely face competition from Chinese brands that can build and sell EVs far more cheaply. "In the long run, it's a big threat, especially for Volkswagen."<h2 id="4b4f7370-2052-4695-8ad7-e34b879663db">Slow sales in Europe</h2>At the same time, Germany's automakers are also dealing with a slowdown in EV sales in Europe.Mercedes said last week that <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">sales of battery-powered cars</a> fell 31% in the third quarter compared with the same period last year, while deliveries of Volkswagen Group EVs in Europe were <a target="_blank" class="" href="https://uploads.vw-mms.de/system/production/files/cws/040/668/file/151d368085a7d93bdc93358b5dc3bc7714ea72d0/20241011_Deliveries_Tables_icl_BEV.pdf?1728635690">down 12% in Q3</a>.Demand for electric vehicles has slowed in Europe amid a lack of affordable options and the end of subsidy schemes in some countries, including Germany, where new EV deliveries <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">plunged by 69% in August</a>."The European market has failed to return to health as quickly as hoped post-Covid," Matthias Schmidt, an independent auto analyst based in Germany, told BI in an email."That is causing an over-capacity and under-utilisation problem leading to the need for restructuring across European operations, alongside new market entrants such as Chinese carmakers and Tesla increasingly eating up market share."<div type="image" title="Union workers rally outside a Volkswagen plant" height="5464" width="8192" msid="114777385" hostid="261" sizebytes="1564854"></div>Wisbert said that despite Volkswagen and BMW starting to sell battery-electric vehicles more than a decade ago, German companies failed to make EVs their "focus" and are now losing out to rivals such as Tesla and BYD that can build and sell electric cars more cheaply."They missed the chance to get the cost for the battery under control. That's the problem because their competitors can sell cars at a really low price level because they have the battery cost under control," Wisbert said.She warned that attempting to save money by scaling back EV plans would render German carmakers even less competitive in the future. Volkswagen and Mercedes have both adjusted their EV strategies and pushed back targets in recent months as sales stagnate."Right now they're cutting their plans for future investment — and that's not the best way to stay competitive in the future," said Wisbert.Investors are also sounding the alarm, sending Mercedes-Benz shares down more than 11% this year, with BMW sliding 28%. VW, meanwhile, is down about a fifth this year, and close to half the stock price of October 2019. Analysts at UBS have a "sell" recommendation on the stock, and the potential cost and disruption that could be sparked by a "major restructuring."VW, Mercedes, and BMW did not respond to requests for comment from BI.

Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race

How Chinese EV makers are slowly taking over the world

<ul class="summary-list"><li>Chinese automakers have a better handle on what their customers want than other car companies.</li><li>That includes new tech and more frequently refreshed vehicles.</li></ul>Chinese automakers know what their customers want better than others — and that's why they're likely to beat out rival car companies, especially those from the US.That's according to the <a href="https://www.alixpartners.com/media-center/press-releases/global-automotive-outlook-2023/">latest industry outlook from the consultants at AlixPartners</a>, who say Chinese automakers' relentless focus on designing for what technology and features that buyers actually want, and doing it quickly, is about to pay off big time. Chinese auto players are already growing rapidly: <a href="https://www.businessinsider.com/china-auto-sales-automakers-ford-gm-making-losing-market-share-2023-4">They're expected to outsell foreign brands in China for the first time this year. </a>AlixPartners forecasts that the share of Chinese brands will reach 65% there by the end of the decade, largely driven by gains in electric car sales.As for <a href="https://www.businessinsider.com/china-united-states-electric-vehicle-market-share-auto-brands-pricing-2023-1">these companies' success outside of China</a>, they led in terms of global exports for the first time earlier this year, beating the usual front-runners Japan, Germany, and Korea, per AlixPartners — and <a href="https://www.businessinsider.com/cheap-chinese-electric-cars-will-upend-the-us-vehicle-market-2023-5">they show no sign of slowing down</a>."That's really the big story, the success of the Chinese electric vehicle brands: first in China, and now we're seeing evidence that there are opportunities outside of China as well," Stephen Dyer, head of AlixPartners' Asia Automotive and Industrials practice, said during a June recap.That's a big hint to some of the world's biggest automakers and should be an extra wake-up to those in the US. Any <a href="https://www.businessinsider.com/ev-electric-vehicle-startups-lack-critical-tool-to-compete-traditional-automakers-2023-2">advantages that players like Ford and GM had</a> have been negated by them losing a lot of ground in the Chinese market last year — and carmakers there keep finding ways to capitalize on their rivals' shortcomings. <h2><div type="image" title="The BYD Song Plus DM-i plug-in hybrid." height="1630" width="2175" msid="101541919" hostid="261" sizebytes="250368"></div> Chinese brands know customers' tech needs and wants better</h2>"The Chinese brands have done a really good job of understanding what consumers want in China," Dyer said, "and also understanding what they're good at and focusing their resources on delivering those consumer-wanted attributes and having good enough performance of the other attributes that the foreign brands have traditionally excelled at."For instance, they offer more unique styling and design inside and out, as well as better advanced driver assist systems, driver fatigue monitoring, lane departure warning or lane keeping assists, automatic emergency braking, and voice recognition for any given segment or price level.Consumers in other major car-buying markets like the US might soon emulate the wants and needs of those in China. AlixPartners experts say that's bad news for the carmakers that assume their buyers still care about vehicle attributes like ride-and-handling more than tech and features.<div type="image" title="Nio lineup" height="2160" width="2880" msid="101541922" hostid="261" sizebytes="117550"></div><h2>Chinese carmakers move a lot faster, too</h2>Chinese brands, especially the most popular EV makers like Li Auto, NIO, and BYD, also keep their models fresh. Their vehicles average only about 1.3 years on the market, compared with non-Chinese brands averaging 4 years, per AlixPartners."This freshness is a really critical buying factor for Chinese brands," Dyer said. "The older a model gets on the market, the less desirable it is."These companies are able to get products in front of buyers in a very short time, something that other firms across the globe just haven't yet mastered. New car launches out of legacy automakers are often slowed down by a traditional way of doing things.<a href="https://www.businessinsider.com/rivian-ford-gm-china-ev-battery-supply-chain-strategy-2022-5">Chinese companies</a> simply aren't constrained like that, nor do they allow delays; they're more comfortable taking risks even if it means having to update software once a vehicle has already come out, taking on a startup mentality instead of being locked into stringent product development processes. (Companies like <a href="https://www.autoevolution.com/news/volkswagen-deep-in-hot-water-over-software-woes-key-flagship-models-delayed-for-years-193630.html">Volkswagen</a>, for instance, have struggled with that.)"They will become bigger and stronger competitors and players — potentially, a source of disruption for some of the mature market automakers," Dyer added. "We believe it means that mature automakers have to change the way they do business to meet this disruptive competition."

Chinese automakers are winning in a key area that will make it even harder for American competitors to catch up

<ul><li>US stocks opened mostly higher on Friday, buoyed by optimism over President Joe Biden's new vaccine pledge.</li><li>Investors' risk appetite returned as increased vaccine momentum points to a wider economic reopening by the summer.</li><li><keyword id="6354418" type="UNKNOWN" weightage="60" keywordseo="oil-prices">Oil prices</keyword> edged higher following news that it could take weeks to dislodged the container ship blocking the Suez Canal.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></li></ul>US stocks opened mostly higher on Friday, buoyed by optimism over President Joe Biden's new goal of administering <a href="https://www.businessinsider.com/biden-sets-goal-of-200-million-vaccines-in-first-100-days-by-april-30-2021-3">200 million COVID-19 vaccine doses</a> by his 100th day in office, doubling the original goal of 100 million doses.Thus far, 25.7% or 85 million Americans have received at least one dose of the vaccine and 14% or 46.3 million have received two doses.Investors' risk appetite returned on Friday as a steady vaccine rollout would signal the economy could be on its way to a wider reopening by the summer. Bank shares also rose on Friday after the Federal Reserve <a href="https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210325a.htm">announced</a> that banks can raise dividends and resume share repurchases after June 30.On Thursday, US stocks closed higher after <a href="https://www.businessinsider.com/weekly-jobless-claims-684000-infrastructure-biden-economic-recovery-labor-market-2021-3?utm_source=markets&amp;utm_medium=ingestgest">weekly jobless claims hit 684,000</a> their lowest levels since the pandemic began last year."We will very gradually over time and with great transparency when the economy has all but fully recovered, we will be pulling back the support that we provided during emergency times," Powell <a href="https://www.npr.org/2021/03/25/980868555/transcript-nprs-full-interview-with-fed-chairman-jerome-powell">told NPR Thursday</a>.Here's where US indexes stood at the 9:30 a.m. ET open on Friday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingestm=ingest">S&amp;P 500</a>: 3,927.06, up 0.45%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingestgest">Dow Jones industrial average</a>: 32,761.88, up 0.44% (142.40 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingestgest">Nasdaq composite</a>: 13,006.21, up 0.2%</li></ul>Goldman Sachs analysts on Friday said they <a href="https://markets.businessinsider.com/news/stocks/stock-market-forecast-sp-4000-equities-bullish-bond-yields-goldman-2021-3-1030249331">remain bullish on US</a> stocks, predicting a 10% increase in the S&amp;P 500 from current levels over the next 12 months. The analysts also said they are positive about "procyclical" and non-US stocks, which are poised to benefit from global growth.Cathie Wood's ARK Autonomous Technology &amp; Robotics ETF <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-etf-bought-800000-shares-serena-williams-backed-spac-2021-3-1030249465">recently bought </a>800,494 shares in Jaws Spitfire Acquisition Corp, a SPAC backed by tennis champion Serena Williams. Among the fund's biggest holdings are <a href="https://markets.businessinsider.com/stocks/tsla-stock?utm_source=markets&amp;utm_medium=ingestgest">Tesla</a>, <a href="https://markets.businessinsider.com/stocks/jd-stock?utm_source=markets&amp;utm_medium=ingestgest">JD.com</a>, <a href="https://markets.businessinsider.com/stocks/bidu-stock?utm_source=markets&amp;utm_medium=ingestgest">Baidu</a>, and <a href="https://markets.businessinsider.com/stocks/googl-stock?utm_source=markets&amp;utm_medium=ingestgest">Alphabet</a>.<a href="https://markets.businessinsider.com/stocks/nio-stock">Nio</a> fell 8% after it said it <a href="https://www.businessinsider.com/nio-stock-price-falls-chip-shortage-leads-to-production-halt-2021-3">will temporarily halt production</a> at its JAC-NIO manufacturing plant in Hefei, China for five working days<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> climbed back above the $51,000-level it was on Thursday evening to $53,029. Traders are bracing themselves ahead of the record $6 billion <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> options set to expire Friday. "The expiry data suggests a bullish outlook," said Pankaj Balani, CEO at Delta Exchange. "Currently, Delta Exchange is seeing bullish price signs for bitcoin and this is based on the March futures pricing."Oil prices edged higher, rebounding from Thursday's fall, following news that it could take weeks for experts to dislodged the massive 220,000-ton container ship blocking the Suez Canal.<a href="https://markets.businessinsider.com/news/stocks/suez-canal-jpmorgan-investment-portfolio-worst-case-scenario-2021-3-1030247727">JPMorgan's chief global strategist Marko Kolanovic</a> on Thursday said if this situation is not resolved soon, investors and consumers can expect shipping rates to soar, energy commodities to further increase, and global inflation to continue to rise.He did add that these risks can be hedged by buying oil and associated equities such as energy and shipping.The Suez Canal, the second-biggest shipping channel in the world, is a <a href="https://markets.businessinsider.com/news/stocks/oil-price-brent-crude-suez-canal-blockage-container-cargo-2021-3-1030240995?utm_source=markets&amp;utm_medium=ingestgest">key shipping route</a> for crude and refined products, connecting Europe to Asia and has wreaked havoc on global maritime trade.<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest">West Texas Intermediate crude</a> climbed as much as 2.82%, to $60.21 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest">Brent crude</a>, oil's international benchmark, also rose by 2.55%, to $63.53 per barrel. Both benchmarks are on track for weekly losses.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingestgest">Gold</a> slipped 0.55% to $1,725.12 per ounce.

US stocks rise as recovery optimism grows after new vaccine pledge from Biden

<ul class="summary-list"><li>Apple was the most-purchased stock by <keyword id="11948148" type="UNKNOWN" weightage="60" keywordseo="retail-investors" source="Orion">retail investors</keyword> in 2021, according to Vanda Research. </li><li>AMC and Alibaba were the only two consumer services sector companies to make the tech-dominated list </li></ul>This year will stand out as one of major influence by retail investors on Wall Street, marked by the rally in so-called meme stocks that kicked off 2021 as investors banded together to fend off hedge funds shorting stocks including AMC and GameStop. Here are the Top 10 stocks purchased by retail investors during 2021, according to Vanda Research. The company's research tool tracks activity among such investors in more than 9,000 stocks and ETFs listed in the US. 1) <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple (AAPL)</a>Net purchases: $11.91 billion Year-to-performance: up 29%The tech behemoth is moving closer to hitting a $3 trillion market capitalization, which would be the first company in the world to reach that milestone. Ongoing global supply-chain problems <a href="https://www.businessinsider.com/apple-amazon-supply-chain-staffing-challenges-holiday-season-2021-10">have hurt iPhone production</a> but the stock has managed to forge ahead. The stock has two forces in its corner: a <a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-gains-fueled-by-retail-traders-huge-buyback-arsenal-2021-12">'cult following' among amateur investors</a> and the company's $90 billion share buyback program, Vanda said earlier this month. 2) <a href="https://markets.businessinsider.com/stocks/amd-stock">Advanced Micro Devices (AMD) </a>Net purchases: $7.39 billion Year-to-date performance: up 50%<div type="image" title="A screenshot from AMD's website showing embedded graphics products" height="500" width="1000" msid="88396618" hostid="261"></div>The stock was off its highs of the year but it had a monster rally of nearly 40% during November. Investors propelled it higher after the chipmaker raised its 2021 revenue outlook and beat third-quarter expectations.3) <a href="https://markets.businessinsider.com/stocks/nio-stock">NIO</a> Net purchases: $6.8 billion Year-to-date performance: down 38%<div type="image" title="Nio lineup" height="1920" width="3840" msid="88396620" hostid="261"></div>The Chinese electric vehicle maker recently has turned in record delivery figures that helped the stock price to all-time highs. But the stock has also run lower alongside other US-listed shares of Chinese companies in the wake of news Beijing-based ride-hailing company Didi's delisting less than six months after its US debut.4) <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC Entertainment (AMC)</a>Net purchases: $4.07 billion Year-to-date performance: up 1,273%<div type="image" title="2019 American Cinematheque Award - Arrivals - Beverly Hills, California, U.S., November 8, 2019 - Adam Aron." height="2213" width="4426" msid="88396621" hostid="261"></div>The movie-theater chain has been on a wild ride as part of the wider focus on meme stocks driven by retail investors this year. The company was hit hard by the coronavirus pandemic but movie screens are back open and AMC CEO Adam Aron has kept <a href="https://www.businessinsider.com/amc-adam-aron-twitter-reddit-investors-meme-stock-2021-12">engagement with retail investors alive in his communication on Twitter</a>.5) <a href="https://markets.businessinsider.com/stocks/pltr-stock">Palantir (PLTR)</a> Net purchases: $3.6 billion Year-to-date performance: down 19%<div type="image" title="Palantir 1" height="683" width="910" msid="88396623" hostid="261"></div>The data-mining company with defense contracts is one of the most-mentioned stocks among investors in the WallStreetBets community. As the year comes to a close, the company reportedly said it's working on shifting its <a href="https://www.nasdaq.com/articles/palantir-to-localize-uk-data-operations-as-privacy-regulations-tighten">UK metadata processing</a> out of the US as privacy regulations tighten worldwide. 6) <a href="https://markets.businessinsider.com/stocks/vz-stock">Verizon (VZ)</a> Net purchases: $3.07 billion Year-to-date performance: down 9.5%<div type="image" title="THOR vehicle prototype" height="974" width="1950" msid="88396626" hostid="261"></div>Shares of Verizon like other telecom stocks are lower this year but the largest mobile carrier in the US did turn in better-than-expected earnings for the third quarter. 7) <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft (MSFT) </a>Net purchases: $2.89 billion Year-to-date performance: up 46%<div type="image" title="Satya Nadella speaks in front of the image of a cell phone." height="2299" width="4600" msid="88396628" hostid="261"></div>The software maker has been among big winners during the coronavirus pandemic, with its stock price rising on the success of its Azure cloud business and as people rely more heavily on its suite of services in the shift to remote work. 8) <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla (TSLA) </a>Net purchases: $2.74 billion Year-to-date performance: up 32%<div type="image" title="Tesla CEO Elon Musk in a black suit walks on stage in front of an image of a Model Y vehicle" height="1314" width="2628" msid="88396630" hostid="261"></div>Delivery of Tesla cars has been on the rise this year but much focus lately has been on CEO Elon Musk who has been selling shares in a bid to reduce his tax liability. 9) <a href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia (NVDA)</a> Net purchases: $2.58 billion Year-to-date performance: up 113%<div type="image" title="A screenshot of Nvidia's series of GEFORCE RTX 30 graphic cards" height="796" width="1592" msid="88396632" hostid="261"></div>Global supply-chain issues have pressured Nvidia's shares during the year but blowout earnings result for the GPU manufacturer in the second quarter have aided overall gains. The company has also broadcast its vision for the metaverse and other gaming-related projects. 10) <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba (BABA) </a>Net purchases: $2.44 billion Year-to-date performance: down 49%<div type="image" title="alibaba jack ma NYSE" height="1000" width="2000" msid="88396634" hostid="261"></div>Shares of Chinese retail heavyweight have taken a hit largely as the Chinese government imposed regulatory crackdowns on a range of industries and as founder Jack Ma has been under scrutiny in Beijing. As for ETFs, retail traders piled into funds tracking the S&amp;P 500 and the Nasdaq 100. The top 10 most traded ETFs this year were: SPY, QQQ, TQQQ, LQD, TNA, IWM, TIP, SPXL, VTI and EMB.

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