U.S. Stocks Close Higher as Dow Jones Gains Over 100 Points; Tesla Reports Strong Q2 Earnings
- Shams Ul Zoha
- July 20, 2023
- 1:17 pm
WHAT YOU SHOULD KNOW
- U.S. stocks showed positive performance, with the Dow Jones closing 0.31% higher at 35,061.21, while the Nasdaq and S&P 500 gained 0.03% and 0.24%, respectively.
- Tesla’s stock price decreased by 0.71% for the day, closing at $291.26, with an intraday high and low of $299.29 and $289.52, respectively. The company reported strong Q2 revenue of $24.93 billion, a 47% year-over-year increase, and a profit of 91 cents per share, beating analysts’ estimates.
- Despite Tesla’s positive earnings report, its stock experienced a slight dip, indicating potential market reactions to various factors beyond the company’s financial performance.
U.S. stocks had a positive trading session, with the Dow Jones index gaining over 100 points and closing 0.31% higher at 35,061.21 on Wednesday. The Nasdaq and the S&P 500 also saw modest gains, closing up by 0.03% and 0.24%, ending the day at 14,358.02 and 4,565.72, respectively.
Among the stocks that garnered attention from retail traders and investors throughout the day was Tesla Inc. However, Tesla’s stock performance for the day showed a slight decrease of 0.71%, closing at $291.26. The stock experienced intraday fluctuations, reaching a high of $299.29 and a low of $289.52, with its 52-week range spanning from $101.81 to $314.67.
Despite the dip in stock price, Tesla delivered strong financial results in the second quarter, reporting revenue of $24.93 billion, a significant 47% increase year-over-year, surpassing the Street’s consensus estimate. Additionally, the company posted a profit of 91 cents per share for the quarter, outperforming the Street estimate of 82 cents per share.
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