Friday's big stock stories: What's likely to move the market in the next trading session

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Here's what CNBC TV's producers were watching as the S&P 500 rose for another record, and what's on the radar for the next session.

Tepper and China

• "Everything, everything, everything… ETFs, I would do futures, everything, everything" said David Tepper, head of Appaloosa Management Thursday morning on "Squawk Box" when asked about China. He's one of the most successful investors in history. He continued making his case by saying, "a long time ago in 2010 I think I said everything, and you know what was good, everything."
• Continuing on China, Tepper said, "This is incredible stuff for that place. So it's everything. I would like to see a pullback… I would have another newfound limit in a pullback."
• The iShares MSCI China ETF (MCHI) was up 8.7% on Thursday. It is up 17.4% in four days.
• The iShares China Large-Cap ETF (FXI) was up 8% Thursday. It is up 17.6% in four days.
• The KraneShares CSI China Internet ETF (KWEB) was up 11.6% Thursday. It is up 22% in four days.
• All three ETFs hit new 52-week highs during the session. We'll be following on Friday.

Tepper and the U.S.A.

• Tepper was less enthusiastic about the U.S., but he wasn't bearish. "I don't love the U.S. markets on a value standpoint, but I sure as heck won't be short, because I would be nervous as heck about the setup with easy money everywhere, a relatively good economy," he said.
• The S&P 500 hit a new high Thursday. It is up 2.3% in a month.
• The Dow Jones Industrial Average is 0.29% from a high. The index is up nearly 8% in three months.
• The Nasdaq Composite is 2.57% from a high. It's up 2.6% in a month.
• The Nasdaq 100 is 2.78% from a high. The index is up 3% in a month.
• Alibaba, which is a stock Tepper has held, was up 10% Thursday, hitting a new high. The stock is up about 19% in four days.

Beyond China and the other side of the yuan

• "I wonder what this looks like in 2025, 2026" said David Riedel, of Riedel Research on CNBC TV's "Fast Money." He made the point that you may find other parts of the international market that may be safer and bring more opportunity.
• "Fast Money" trader Dan Nathan also called attention to the problems in China's housing market and other parts of the economy that are still struggling. There are also the potential military and political flashpoints, so not everyone agrees with Tepper.
• The iShares MSCI India ETF (INDA) hit a record Thursday, as did the First Trust India Nifty 50 Equal Weight ETF (NFTY). Both are up almost 4% in the last month.
• The iShares MSCI South Korea ETF (EWY) was up nearly 6% Thursday. It is 3.5% from the July high.
• The iShares MSCI Emerging Markets ETF (EEM) was up 3.66% Thursday and hit a new high. It is up 6.9% in week to date.
• The iShares MSCI Emerging Markets ETF (EWQ) was up 3% Thursday. It is 3.5% from the May high.
• The iShares MSCI Japan ETF (EWJ) was up 2.88% Thursday. It hit a high, and it's up 2.5% in a week.

China and China

• On Friday, CNBC TV Megan Cassella will report on the tariff threat involving China which could be another overhang.
• Robert Frank, CNBC TV's wealth reporter will look at luxury stocks in China as economic stimulus plans go into effect. Burberry was up 12.5% Thursday. It remains 62% from the high hit in September 2023.
• LVMH was up about 11% Thursday. It is 20% from the March high.
• Hermes was up 9% Thursday. It is 8% from the March high.
• Prada was up 6% Thursday. It is 14% from the May high.
• Ralph Lauren was up 4.4% Thursday, hitting a new high. The stock is up 15.4% in September.

Copper

• The China-linked commodity is up 10% in September.
• It's now about 8% lower than it was in mid-May, when it hit a high.

The shipping stocks

• The sector was on the rise Thursday, perhaps in part due to Chinese stimulus.
• At the same time, there's a very serious strike threat in the U.S. CNBC TV's Frank Holland and Lori Ann Larocco are heading up our coverage. Workers may walk off the job Monday night without a deal.
• Cosco was up more than 10% Thursday. It is 18.6% from the June high.
• Frontline was up 6.6%. It's 22% from the May high.
• Star Bulk was up 3.86% Thursday, and it's 13.8% from the May high.
• Diana Shipping was up 2.82%, and it's 28.6% from the November high.
• Nordic American Tankers closed up up 2.55% Thursday. It's 25% from the October 2023 high. 

PayPal

• CNBC's MacKenzie Sigalos will report on the stock, one year since CEO Alex Chriss took the helm at PayPal.
• The stock is up 36% in a year.
• Affirm is up 110% during that time.
• American Express is up 77% in a year.
• Block is up 48% in a year, but it's still 24% since the March high.
• Mastercard is up 24% in a year.
• Visa is up 18% in a year.
• Global Payments is down about 17% in a year.

Costco

• The stock is down 1% in extended trading after the company posted earnings this afternoon. Results were mixed.
• Costco is down 2.4% since hitting a new high about two weeks ago.
• Jim Cramer, who returns next week, is a longtime holder. If you bought when he did in June 2020, you'd be outperforming the S&P 500 by far: The stock is up 210% since then. The S&P 500 is up 88% in the same time period.

Cassava Sciences

• The biotech company settled a case with the U.S. Securities and Exchange Commission on Thursday over "misleading claims" about an Alzheimer's clinical trial, according to the agency.
• Cassava Sciences is down 11% after hours.
• The name has been consistently high on the list of most-shorted stocks.