Tencent pops, Chinese tech stocks, UnitedHealth approves dividend

Tencent (TCEHY) stock is climbing after the company reported a 15% jump in quarterly revenue.

Chinese tech stocks, including Alibaba (BABA), Baidu (BIDU), and JD.com (JD), are rising on Tencent's results, US rate cut optimism, and reports of Chinese scrutiny on Nvidia (NVDA) chips.

UnitedHealth (UNH) stock gains after the company's board approved a $2.21 per share quarterly dividend.

Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.

Video Transcript

00:00 Speaker A

It's time for your Yahoo Finance market minute. Stocks are rallying, flirting with fresh all-time highs as investors raise their expectations for a rate cut at the September meeting to nearly 100%. Chinese tech giant Tencent reporting a 15% jump in revenue driven by massive demand for newly released games. The company also boosting its capex spending in the second quarter, investing in AI upgrades for its for its advertising, gaming and social media businesses. We're seeing other Chinese tech stocks also getting a boost. Alibaba and Baidu both in the green. Tencent's rise, China's reported scrutiny of Nvidia's AI chips, as well as US rate cut optimism, all adding to gains in that sector. And United Health Group's board authorizing a quarterly dividend of $2.21 per share to be issued September 23rd. That news is sending shares higher. The stock's been under pressure this year as United Health faces rising costs, policy headwinds and operational concerns. And that's your Yahoo Finance market minute. Scan the QR code below to track the best and worst performing stocks of the session. Related Videos

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