U.S. stocks pare gains as yields surge, but gains in tech stocks led by Tesla limit downside

Investing.com – U.S. stocks pared gains on Wednesday, weighed by soaring Treasury yields and weakness in industrial stocks, but a surge in Tesla shares helped technology stocks add to gains ahead of a fresh round of earnings from major tech companies.

As of 14:22 ET (19:22 GMT), the Dow Jones Industrial Average was up 0.2%, the Dow Jones Industrial Average was up 0.3%, and the Dow Jones Industrial Average was up 0.1%.

Tesla leads technology stocks higher, Big Seven continues to profit; TSM helps chips rise

Tesla (NASDAQ: ) shares rose more than 11%, rebounding from a 15-month low hit earlier this week, after the electric car maker said it would accelerate the rollout of new cars including more affordable options in the second half of 2025. New electric models.

Cheaper electric car models could represent the next stage of growth for Tesla and could also boost sales of its highly profitable self-driving software.

Tech stocks will remain in focus on Wednesday, with Facebook owner Meta Platforms (NASDAQ: ) reporting earnings after the close, followed by tech giants Microsoft (NASDAQ: ) and Alphabet (NASDAQ: ) on Thursday. thereafter.

Like big tech stocks, chip stocks are also rising, with Texas Instruments (NASDAQ: ) rising 6% after first-quarter results that topped Wall Street expectations and upbeat second-quarter guidance.

Industrial stocks slide on pressure from Boeing, UPS, JetBlue

Boeing (NYSE:) shares fell more than 1% after U.S. Transportation Secretary Pete Buttigieg said Boeing must meet to convince the U.S. Federal Aviation Administration (FAA) that it has resolved quality control issues within a 90-day deadline before it can increase 737 production. Max jet.

The aircraft maker's shares rose more than 4% intraday after first-quarter revenue beat expectations.

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UPS Meanwhile, Services Inc (NYSE: ) also dragged industrial stocks lower after the delivery service company reported mixed first-quarter results, with profit beating expectations but revenue falling short of expectations after a 3.2% drop in freight volume.

JetBlue Airways (NASDAQ: NASDAQ: ) shook off the day's lows, but its shares fell 3%, dragging other airline stocks lower as the airline forecast a larger-than-expected drop in second-quarter revenue and worries about slower growth.

Uber (NYSE: ) fell 3% on concerns about increased competition after Tesla said it planned to enter the ride-hailing space, also weighing on industrial stocks.

Humana slides sharply despite poor first quarter, Hasbro tops profit podium

Humana Corporation The company (NYSE: ) fell 4% despite the health insurance company's first-quarter profit beating expectations.

Hasbro (NASDAQ: ) rose 11% after the toymaker reported a smaller-than-expected decline in first-quarter sales and profit that easily beat forecasts.

Energy stocks fall as oil prices fall

Energy stocks were trading below flat lines, weighed down by weak oil prices, despite data showing an unexpected build in U.S. inventories.

Inventories fell by 6.4 million barrels in the week ended April 19, missing expectations for a 1.6 million barrel increase.

(Peter Nurse and Ambar Warrick contributed to this article.)

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