Investing.com-- The S&P 500 snapped a three-day losing streak Thursday, as Tesla racked up its best day in over decade following the electric vehicle maker's better-than-expected quarterly results.) rallied 22% notching its biggest after the electric vehicle maker reported robust third-quarter profits and surprised investors with a prediction of 20-30% growth in sales next year.
Gross margins excluding credits, a closely watched performance metric, rose to 17.05% from 14.7% in the prior quarter The stock is the first of the so-called “Magnificent Seven” to report this earnings season, with its positive reading drumming up hopes of a similar trend from Tesla’s peers, which are due to report in the coming weeks.Around 29% of S&P 500 companies have reported results so far this quarter, according to data compiled by LSEG, with 81% beating earnings estimates.) stock fell 1.
Investors will also be keeping an eye on the political situation, with a WSJ poll on Wednesday putting former President Donald Trump, the Republican presidential candidate, heading his Democratic rival Kamala Harris 47% to 45%.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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