Stock market today: Tesla surges after earnings, stocks cling to gains ahead of Meta's report

Stocks were slightly higher on Wednesday, as bond yields rose and investors awaited more quarterly results from companies. The Nasdaq Composite was up about 0.3% and the S&P 500 was up more than 0.1%. The Dow Jones Industrial Average hovered just above the flat line. Bond yields ticked higher on Wednesday, which had notably been a recent headwind for stocks. The 10-year Treasury yield rose about six basis points to 4.66%, hovering near its highest level of 2024.

Meanwhile, Tesla shares jumped more than 10% after the EV maker's vow to speed up the launch of more affordable models eclipsed its quarterly earnings and revenue miss. That cheered up investors worried about growth amid a strategy shift to robotaxis and the planned cancellation of a cheaper model. The results from the first "Magnificent Seven" to report have intensified the already high hopes for Big Tech earnings, that the megacaps can revive the rally in stocks they powered.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: S&P 500, Nasdaq notch big gains as Tesla kicks off 'Magnificent 7' earningsThe wait for Tesla results is on as investors look to Big Tech earnings to buoy stocks.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq notch big gains with Tesla earnings on deckThe wait for Tesla results is on as investors look to Big Tech earnings to buoy stocks.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: 'Magnificent 7' power stock surge after CPI-fueled sell-offInvestors were bracing for a wholesale inflation print, after a surprise uptick in CPI shook markets and undermined bets on interest-rate cuts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »