Tech giants Tesla, Meta, and Microsoft edged higher in recent trading, despite mixed earnings reports. Nvidia, an AI stock, fell another 2% due to its decline following the launch of a new AI model.
The Dow Jones Industrial Average rose 240 points or 0.54%, with the Nasdaq and S&P 500 also gaining 0.18% and 0.53%, respectively. The US economy grew at an annualized rate of 2.3% in the fourth quarter, slightly below economists’ expectations.
Investors are awaiting earnings reports from Apple, set to be released after the closing bell, along with financial updates from payment giants Mastercard and Visa.
Tesla shares rose despite missing revenue expectations. The company reported $25.7 billion in revenue, up 2% compared to last year, but fell short of analysts’ estimates of $27.2 billion. Automotive revenue decreased by 8% during the quarter but still accounted for most of Tesla’s income.
Source: https://qz.com/dow-climbs-tesla-meta-microsoft-apple-earnings-nvidia-1851751929