Daily summary

Shares of European automakers BMW, Volkswagen and Renault jumped on Wednesday morning after the European Union Initiated anti-subsidy investigations into Chinese electric vehicles.

Shares of pioneer electric vehicle maker Tesla (NASDAQ: TSLA) jumped 10% on Monday after the global investment bank Morgan Stanley upgraded the stock to “Overweight.” The investment bank said its Dojo supercomputer could power a nearly $600 billion surge in the electric car maker's market value.

Shares of the video game retailer GameStop (NYSE: GME) jumped more than 8% in after-hours trading on Wednesday after the company reported better-than-expected fiscal second-quarter earnings report. GameStop's Q2 net sales were up 2% to $1.16 billion from $1.14 billion a year ago.

Crude oil prices spiked to fresh ten-month highs on Tuesday after the largest oil producers & exporters namely Saudi Arabia and Russia agreed to extend their voluntary oil production cuts through the end of this year.

Global equity markets slid lower today after the disappointing August services PMI readings from China and European regions. The China service sector activity falls to an eight-month low in August.