Thursday's session on Wall Street ended with minor changes. The star of the session, after better-than-expected quarterly results and optimistic forecasts for 2025, was Tesla, which recorded the best day on the stock exchange in a decade. The increase in the company's shares significantly increased the estimated value of Elon Musk's net worth.
The Dow Jones Industrial dropped by 0.33% at the close of Thursday's session, to 42,374.36 points. At the end of yesterday, the S&P 500 increased by 0.21%. and amounted to 5809.86 points. Thus, the index broke the series of three declining days in a row. The Nasdaq Composite rose 0.76%. to the level of 18,415.49 points.
The star of Thursday's session
The star of Thursday's session was Tesla. The electric car manufacturer gained 22 percent at the end of the day. and recorded his best session in a decade.
Tesla share priceStooq.pl
Tesla's third-quarter earnings per share were 72 cents, compared to analyst consensus of 58 cents. Net profit rose to about $2.17 billion from $1.85 billion a year ago.
Tesla's revenues amounted to $25.18 billion, and the market expected $25.37 billion. This is a year-on-year increase of 8%.
– Market sentiment became slightly more positive after Tesla delivered a solid set of Q3 results. The automaker currently forecasts a slight increase in deliveries this year, said Jim Reid, senior strategist at Deutsche Bank. – Tesla rebounded from the unsuccessful launch of its Robotaxi with solid third-quarter results. These numbers mark a return to form after a weak second quarter, when profitability plummeted. There is still clear demand for electric vehicles, even if it is not growing as quickly as some had expected, said Russ Mould, chief investment officer at AJ Bell.
Due to Thursday's increase in Tesla shares, Elon Musk's fortune is at the top of the list of the richest with 13%. the company's shares increased by USD 33.5 billion in one day.
Quotes of other companies
Moreover, during Thursday's session on Wall Street UPS gained 5 percent The courier company's earnings per share in Q3 were $1.76. The expectation was $1.63 per share.
Southwest Airlines lost over 6% at the end of the day. despite announcing higher-than-expected third-quarter earnings per share and raising full-year earnings per share forecasts.
Honeywell International lost over 5 percent The company's revenues in Q3 were lower than analysts' consensus.
IBM dropped by over 6 percent. after the company failed to beat third-quarter revenue estimates. Shares Boeing dropped 1 percent after the company's employees voted on Wednesday to reject the contract offer and continue the strike, which has been going on for over five weeks. Gold producer Newmont it lost its value by almost 15%. The company reported that due to higher costs and weaker production in Nevada, it was unable to meet financial results forecasts in the third quarter.
About 160 companies from the S&P 500 index has released quarterly results so far, but its earnings growth has been disappointing.
– We have signaled that investors should expect market volatility in the run-up to the presidential elections USAand the S&P 500 index was at a record high before falling in recent days. As November 5 (US presidential election – editor) approaches, market sentiment will probably remain sensitive, Solita Marcelli from UBS wrote in a comment on the current situation. – However, we maintain a positive outlook for US stocks and expect the S&P 500 to reach 6,600 by the end of next year – Marcelli added.
Main photo source: PAP/EPA