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Happy Friday! Temu and Shein are great if you want to find some cheap clothes or goods that are on sale. But now, the products aren’t the only thing on sale, the share prices are as well. Here’s why Chinese names are taking a hit this morning, plus, the company that can’t seem to avoid the negative headlines.

—Aaron Bry

Plus, check out the company that’s reshaping at-home medical monitoring devices, including hand-held glucose tools.

MARKET SNAPSHOT

Yesterday: The rally continued! All major indices closed in the green, with tech continuing to lead the way with chips rebounding from their recent sell off. Moderna was a big loser on the day, trading down more than 10% after announcing cuts to its R&D and cost-cutting measures.

On Our Radar: Next week is all about the Fed’s interest rate decision coming on Wednesday, September 18.

TOP STORY

Team Biden Targets Shein And Temu With New Rules To Curb 'Abuse' Of US Trade Loophole

Basically: The Biden-Harris Administration announced new measures to tackle the abuse of the de minimis exemption by Chinese e-commerce platforms like Shein and PDD Holdings Inc owned Temu.

What Happened: As per the official statement from the White House on Friday, the de minimis exemption, which allows goods valued at $800 or less to enter the U.S. duty-free, has seen “increased abuse” over the past decade. Here are the stocks taking the biggest hit on the news, and the ones that are holding up.

PRESENTED BY GLUCOTRACK

Poster Presentations, Upcoming Human Trials, Recently Secured Funding And More: Glucotrack’s Plans To Transform The Continuous Glucose Monitoring Market

When it comes to continuous glucose monitoring devices (CGM) there are multiple ones available. One company that seems to stand out is Glucotrack, Inc. (NASDAQ: GCTK). It aims to take the CGM market to the next level with its device which it says overcomes the shortcomings of today’s CGMs. 

It's making strides in proving that. Not only is Glucotrack getting the word out via poster presentations at key medical conferences but it just completed its second long-term study that demonstrated sustained accuracy of Glucotrack’s CBGM, which can last up to three years. That alone seems groundbreaking for the company, given most of the devices on the market don’t last more than a year. It also measures blood glucose not interstitial glucose, something it says rivals can’t claim. 

On top of that, Glucotrack just deepened its talent pool by naming Andy Balo, a former DexCom Inc.(NASDAQ: DXCM) executive, to its board. Balo brings decades of regulatory, clinical and quality experience to the company. And there’s even more news on developments coming out of Glucotrack. To learn all about it click here.

FIVE ZINGERS

Better Late Than Never: Oracle updated its guidance, just days after reporting earnings, sending the stock to new all-time highs.

Betting On Brazil: Flutter is making a big bet on Brazil, with the FanDuel parent company investing $350 million in NSX Group.

Earnings Slump: Adobe failed to impress investors with its earnings report, with the stock taking a big hit this morning despite a double beat on top-line earnings.

On Cloud 9: $RH shares are skyrocketing after the luxury furniture store reported strong earnings. These other stocks are also moving higher on the news.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Boeing Worker's 'Strike At Midnight' Threatens Aircraft Production As Financial Risks Loom After 30,000 Workers Vote For Industrial Action

Basically: Boeing Co faces potential disruptions in its aircraft production as workers decide on a strike.

What Happened: Over 30,000 Boeing employees are set to strike on Friday after rejecting a proposed labor contract, reported CNBC. Workers in Seattle and Oregon voted 94.6% against the tentative agreement, which was presented by Boeing and the International Association of Machinists and Aerospace Workers. Here’s why the strike could lead to even more negative headlines for Boeing.

PRESENTED BY BENZINGA

New Recommendation: Buy These Three Stocks on Monday

These three stocks are expert-selected, fully analyzed, and ready to be added to your portfolio Monday morning. Get your hands on these picks and learn which market catalysts and major news events might be driving the market this week, right here.

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