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Stocks open lower on US GDP print, tech earnings

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Seana Smith,Stock Market,Market Action

The major stock market averages (^DJI, ^IXIC, ^GSPC) are opening Thursday lower on the first-quarter GDP print and Big Tech stocks earnings results. The...

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Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. The Austin, Texas, company said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Investors and analysts were looking for some sign that Tesla will take steops to stem its stock's slide this year and grow sales.

-- The swaps market is flashing warnings there could be a dash for dollar liquidity on a scale last seen at the start of the pandemic, according to Mizuho International Plc.

 

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