The stock market rallied on Friday as weaker-than-expected employment data eased concerns over another Federal Reserve interest rate hike.
The U.S. added just 29,000 jobs in September, well below economists’ expectations of 90,000, while the unemployment rate edged up to 4.2%.
Overall, S&P 500 rose 0.7% to 7,723, while Nasdaq jumped 1.2% to 27,191.
Chart of the Day
Here is the one-year chart of Sea (SE) as of September 15, 2026, when the stock was at $103.
Sea stock is in the dumps even though the company is growing fast. Revenue jumped 48% last quarter, which translated into a 47% rise in gross profit. Then, in the end, profit growth was only 8%. Management says it is strengthening Shopee’s competitive moat as it continues to grow across Southeast Asia and Brazil.
Last quarter, Sea’s online shopping platform, Shopee, grew its Gross Merchandise Value (GMV) by 28% year over year, while monthly active buyers increased 18% and purchase frequency rose 8%, showing that more users were buying more often.
Sea continues to invest in three areas it described as structural moats: logistics, its loyalty program ShopeeVIP, and content.
Instant-delivery orders in Indonesia grew around 80%, fulfillment orders increased more than 20% quarter over quarter, and ShopeeVIP membership reached more than 15 million, up 45% from the previous quarter. At the same time, livestreaming and short-form video orders grew more than 50%, giving Shopee more ways to keep buyers engaged and drive purchases.
Sales & Marketing expenses increased 65% last quarter, while Provisions for Credit Losses jumped 72%. Why so much? With revenue up 48%, I would at least like 20% profit growth. Where is the money going?
SE was sold from the Growth Portfolio.
