The US stock market closed out the day with losses trimmed into gains, following a weak fourth-quarter delivery report from Tesla (TSLA). The Dow Jones Industrial Average rose 0.4% for its fourth straight session of declines, while Apple (AAPL) led the pack with a 3% decline.
Tesla sank 4.4% after the company reported lower-than-expected deliveries of 495,570 vehicles, below the consensus estimate of over 500,000. The shares slid further into negative territory, falling below their 21-day exponential moving average.
Meanwhile, Apple dropped 3% to test its 50-day line, while Cloudflare (NET) surged 6% after Goldman Sachs upgraded the stock from “sell” to “buy”. Synaptics (SYNA) and Alphabet’s (GOOGL) Google partnership also boosted shares of the chipmaker up 6%.
The market sentiment remained cautious as the Nasdaq tested a key level, with Tesla and Apple tumbling in sympathy. Big Stock Movers, including Cloudflare and Synaptics, were among those making gains.
In other news, initial weekly jobless claims fell to an eight-month low of 211,000, while the final December Purchasing Managers’ Manufacturing Index rose to a higher-than-expected 49.4.
The big stock movers included:
* MicroStrategy (MSTR), which rebounded 3.5% after a four-day losing streak
* Coinbase Global (COIN), which surged 2.5% in sympathy with Bitcoin-related stocks
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-tesla-stock-tsla-nvidia