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Alibaba, Wayfair upgrade, Snap subscriptions: Trending stocks

Stocks were higher in early trading on Friday after experiencing a down week amid the Federal Reserve's September meeting.

Alibaba (BABA) shares rose as the Chinese government could be relaxing stock restrictions on foreign ownership of domestic publicly traded companies, according to a report from Bloomberg.

Wayfair (W) shares were up after the stock received an upgrade from Bernstein to "market perform" from "underperform," as well as a raised price target to $65 from $60.

Snap Inc. (SNAP) shares rose as the social media app has over five million users on its Snapchat+ paid subscription plan.

Yahoo Finance Live takes a look at some of the trending tickers of the day. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video transcript

BRAD SMITH: We're about 30 minutes into the trading day. Let's take a look at how things are shaping up right now. Stocks right now are higher after a three-day sell-off. Investors facing the harsh reality that interest rates could stay higher for longer. Bond yields also are not helping the matters here. The 10-year touching 4.5% for the first time since 2007.


SEANA SMITH: Taking a look at some of the individual names, Alibaba is rising this morning on a Bloomberg report that the Chinese government is considering easing the limits on foreign ownership of domestically listed companies. Now, this comes as the world's second largest economy is attempting to recover its faltering economy and equity market.

BRAD SMITH: And we also have our eyes on Wayfair. The online furniture retailer got an upgrade today from Bernstein, the analysts boosting the company to market perform from underperform and raising its price target to $65 from $60 citing improving revenue growth and margins.

SEANA SMITH: And we're watching Snap moving higher today on news that the social media app now has over 5 million members on its Snapchat Plus subscription plan. For about $4 a month, users get early access to new features, like an AI generated selfie maker. Now, at that price, with 5 million users, this feature could generate about $240 million a year for Snap.