Yahoo finance sp50012/8/2023 ![]() On Wednesday, shares fell by 2.7% to 346.19, reversing a five-month breakout. ![]() NFLX stock rose by over 10% in pre-market trading. Earnings also exceeded projections while revenue was in line. Netflix, however, enjoyed positive news with the addition of 8.76 million streaming subscribers, surpassing expectations. The 200-day line is expected to offer support, with 212.36 marking the area’s low on August 18th. Although Tesla stock currently has a 278.98 cup-with-handle base, the handle’s validity is at risk. On Wednesday, shares dropped 4.8% to 242.68, falling below the 50-day line. Tesla stock experienced a sharp decline of nearly 7% in pre-market trading as a result. Furthermore, CEO Elon Musk’s comments about the Tesla Cybertruck were not optimistic, cautioning about financial contributions, production difficulties, and limiting growth projections. Revenue increased by 9% to $23.35 billion, which still fell short of expectations. Tesla’s disappointing earnings report emphasized a significant drop in earnings per share, falling 37% to its worst level in two years. Neither Arista Network’s top customers, Meta and Microsoft, revealed their earnings. ANET stock showed promise as well, just below a 198.46 cup-with-handle buy point. Microsoft stock approached the 366.78 consolidation buy point, recovering the 50-day line. Meta stock hovered just below a 326.20 buy point while still maintaining an early entry of 312.87. Adobe stock, slightly below the 570.24 flat-base buy point, continued to perform well. Several stocks showed great potential for investment. The energy sector, however, remained resilient amidst the overall decline. The Russell 2000 suffered the most, experiencing a significant tumble of 2.1%. The S&P 500 index retreated 1.3% and the Nasdaq composite lost 1.6%. The Dow Jones Industrial Average fell 1%, dropping below the 200-day line. Wednesday’s stock market trading further reinforced the downturn. It’s important to note that pre-market activity in Dow futures and other indices doesn’t always indicate trading patterns in regular sessions. Nasdaq 100 futures, on the other hand, rose 0.1%. Dow Jones futures dropped 0.1%, while S&P 500 futures fell 0.1%. On Wednesday, the stock market experienced significant losses as Treasury yields reached 16-year highs and numerous earnings reports and guidance were disappointing. As for stocks to watch, Adobe, Arista Networks, Microsoft, and Meta Platforms all showed promise for potential investment opportunities. Additionally, Costco Wholesale CEO Craig Jelinek plans to step down in January, with COO Ron Vachris taking over. Notable reports came from Taiwan Semiconductor and Lam Research. Conversely, Netflix saw a surge in stock price due to strong subscriber growth and the announcement of price hikes. Tesla faced a significant drop due to weak earnings and cautious statements from CEO Elon Musk about the Cybertruck and other products. Investor attention turned to the 10-year Treasury yields, which continued to climb toward 5%. While Dow Jones and S&P 500 futures fell slightly, Nasdaq futures edged higher. Please note comments are moderated before publication.The stock market experienced a mixed start on Thursday. Got a comment? Leave your thoughts in the comments section, below. ![]() To learn more about Yahoo Finance Plus please visit: įollow Yahoo Finance Premium on Twitter: Yahoo Finance YouTube Channel Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Yahoo Finance’s Brooke DiPalma highlights the athleisure brands timeline up until this point, outlining growth drivers and its possible expansion into Chinese consumer markets.įor more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Īt Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Lululemon (LULU) joins the S&P 500 (^GSPC) on Wednesday, replacing video game developer Activision Blizzard upon the approval of its acquisition by Microsoft. Yahoo Finance published this video item, entitled “Lululemon joins S&P 500, here’s a look at the company’s comeback story” – below is their description.
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