U.S Stocks rise -Apple, Lyft, Alibaba ,D.R . Horton show momentum.

Wall Street’s main indexes advanced on November 11 as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound. Amongst the main stock which showed momentum were Apple, Lyft, D.R. Horton, and Norwegian Cruise Liner.

S&P’s growth stock index outperformed the economically sensitive value index in a reversal of Tuesday’s trend.

Markets have been further strengthened by the news that the legal challenges from outgoing  President Donald Trump have been shrugged off as they have not produced evidence of problems with votes leading to the smooth transition of power to the Biden team.

Traders this week have so far embraced many of the stocks hardest-hit by the pandemic, including the airline, cruise line, lodging, restaurant, and brick-and-mortar companies some analysts have called the “epicenter stocks.”

The jump, however, had come at the expense of the growth and tech stocks that led the markets higher earlier on during the pandemic.

The Nasdaq posted back-to-back sessions of declines greater than 1% through Tuesday’s close, while the Dow brought its cumulative advance for the week-to-date to nearly 4%. In the S&P 500, the energy, financials, and industrial sectors outperformed at the top of the week, after lagging for the year to date.

Lyft Inc jumped 6 percent after the ride-hailing app said it was working on a new service to take a slice of the burgeoning food-delivery market, as it works to make up for a drop in quarterly revenue.

The Philadelphia SE chip index rose about 3% after suffering sharp losses a day earlier.

Advancing issues nearly matched decliners on the NYSE, and on the Nasdaq, a 1.2-to-1 ratio favored advancers.

The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq Composite recorded 52 new highs and 1 new low.

The stocks in focus are :

Lyft Inc LYFT.O: up 4.4% premarket BUZZ-Street View: Lyft raises hopes for post-pandemic profitability

Alibaba BABA.N: down 1.3% premarket

JD.Com JD.O: down 0.6% premarket

Pinduoduo Inc PDD.O: down 0.6% premarket

BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny

D.R. Horton DHI.N: up 1.9% premarket BUZZ-Rises as brokerages raise PTs on strong results

Norwegian Cruise Line NCLH.N: up 0.7% premarket BUZZ-Up as brokers raise PT on vaccine optimism