Coming Soon: Federal QR Codes?

Thanks to a major overhaul of the US banking system taking place today, a QR code just like this one could soon be mandatory for millions of Americans and it has the backing of the White House, Federal Reserve and Treasury. What changes do these powerful organizations have planned for your money?

What's Going On With Nio Stock Today?

Adam Eckert
September 29, 2022

NIO Inc (NYSE:NIO) shares are trading lower Thursday alongside several Chinese names as global equities fall amid U.S. economic concerns and currency uncertainty. 

Labor Department data from Thursday showed that U.S. initial jobless claims unexpectedly fell last week to the lowest levels since April, signaling the labor market remains resilient despite continued rate hikes from the Federal Reserve.

Jobless claims decreased by 16,000 for the week ending Sept. 24 to 193,000, which was well below average economist estimates of 215,000. Gross domestic product dropped at an unrevised annual rate of 0.6% last quarter.

Related Link: Surprise! Jobless Claims Fall To Lowest Levels Since April: What You Need To Know Now

What Else Is Happening: Chinese EV names may also be facing selling pressure following the public debut of competitor Leapmotor in Hong Kong. 

Nio has also opened its first German battery swap unit, according to several reports. Over the next few days, Nio will be conducting final testing of the swap station.

See Also: What's Going On With Tesla Stock Today

NIO Price Action: Nio has a 52-week high of $33.80 and a 52-week low of $11.67.

The stock was down 9.95% at $15.61 at time of publication, according to Benzinga Pro.

Photo: courtesy of Nio.

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