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Tesla reports Q4 earnings: Weak sales and lower margins
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Wall Street Today | First of Mag 7 Earnings Disappoint While Apple and Microsoft Vie for #1

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Moomoo Recap US joined discussion · Jan 24 15:24
Wall Street Today | First of Mag 7 Earnings Disappoint While Apple and Microsoft Vie for #1
RECAP
US benchmark equity indexes were higher intraday, as $Netflix(NFLX.US)$ results helped boost the S&P 500 and the Nasdaq Composite, and Tesla results disappointed after hours.
The $Nasdaq Composite Index(.IXIC.US)$ rose 0.36% at 15,481 while the $S&P 500 Index(.SPX.US)$ rose 0.08% to 4,868. The $Dow Jones Industrial Average(.DJI.US)$ fell 0.26% to 37,806. Among sectors, communication services led the gainers, while materials saw the steepest decline.
MACRO
Treasury Yields Pare Declines After U.S. PMI Reports
Treasury yields pulled back from declines seen on Wednesday after data showed U.S. businesses experienced a strong upturn in activity at the start of the year. In data released on Wednesday, the S&P flash U.S. services and manufacturing PMI reports both jumped in January.
The yield on the $U.S. 2-Year Treasury Notes Yield(US2Y.BD)$ dipped to 4.3% Wednesday. Yields move in the opposite direction to prices. The yield on the $U.S. 10-Year Treasury Notes Yield(US10Y.BD)$ rose to 4.17% Wednesday.
The services reading of business activity rose to a seven-month high of 52.9 from 51.4 in December, while the manufacturing gauge of output climbed to a 15-month high of 50.3 from 47.9 previously.
The U.S. Treasury's auction of $61 billion worth of 5-year notes is scheduled for 1 p.m. Eastern time. The prospect for some volatility in yields ramps up on Thursday with the release of weekly initial jobless claims, a preliminary reading of fourth-quarter gross domestic product and December's durable-goods orders. On Friday, the December personal consumption expenditures index, the Fed's favored inflation gauge, will be published.
SECTORS
Nvidia, AMD, SemiConductor Stocks Extend Record-Breaking Rally Fueled by ASML's Growth Outlook
by Luzi Ann Santos | moomoo News
$NVIDIA(NVDA.US)$ and $Advanced Micro Devices(AMD.US)$ extended their record-breaking rally that was fueled by $ASML Holding(ASML.US)$'s growth outlook.
Wall Street Today | First of Mag 7 Earnings Disappoint While Apple and Microsoft Vie for #1
ASML President and Chief Executive Officer Peter Wennink said he sees 2024 as "an important year to prepare for significant growth that we expect for 2025." ASML shares surged 10% as Europe's largest tech company reported that fourth-quarter orders more than tripled from three months earlier amid a rebound in demand.
"Industry end-market inventory levels continue to improve, and litho tool utilization levels are beginning to show improvement," Wennink said, referring to the company's extreme ultraviolet (EUV) lithography systems that enables mass production of the world’s most advanced microchips. "Our strong order intake in the fourth quarter clearly supports future demand."
Semiconductor stocks tracked by moomoo advanced 2.2% led by Nvidia. Shares of the market-leader in chips used in artificial intelligence climbed back above $600, touching an intraday record of $628 Wednesday afternoon. AMD shares soared as much as 7.2% to an all-time intraday high of $180.58.  
COMPANIES
Tesla Reported Earnings Shortly After Close
The electric vehicle maker $Tesla(TSLA.US)$ reported slimmer margins and lower EPS than the market expected.
Technology giant IBM Reports Earnings
$IBM Corp(IBM.US)$ beat earnings estimates Wednesday, posting a higher revenue than expected, sending the stock up 6%.
ServiceNow Q4 2023 Adj EPS $3.11 Beats $2.79 Estimate
$ServiceNow(NOW.US)$ reported quarterly earnings of $3.11 per share, which beat the analyst consensus estimate of $2.79 by 11.47 percent.
Netflix Beats on Customer Growth
$Netflix(NFLX.US)$ shares were up 12%, the top gainer on the S&P 500 and the Nasdaq. Late Tuesday, the streaming giant logged fourth-quarter revenue that exceeded Wall Street's estimates amid stronger-than-anticipated membership growth. The company said that it was entering 2024 with "good momentum."
DuPont Falls on Earnings Outlook, Worst Trading Day Since 2008
$DuPont(DD.US)$ saw the steepest decline on the S&P 500 intraday, down 13%. The company's initial first-quarter outlook fell short of analysts' expectations.
Microsoft's Journey to $3 Trillion Aided by Cloud Growth, AI Optimism, and Big Deals
$Microsoft(MSFT.US)$'s market valuation crossed $3 trillion for the first time Wednesday, the latest landmark that the nearly 50-year-old software has passed rapidly.
Spirit Aero Shares Rise as Boeing Reportedly Misinstalled Door Plug on Alaska Air Jet
$Spirit Aerosystems(SPR.US)$ shares gained 6.8% after the Seattle Times reported that $Boeing(BA.US)$ mechanics reinstalled improperly the fuselage on the $Alaska Air(ALK.US)$ jet before it blew off the aircraft earlier this month.
Alphabet Rises 1.9%, Surpassing All-Time Closing High Midday
Shortly after noon, $Alphabet-C(GOOG.US)$ and $Alphabet-A(GOOGL.US)$ rose past their all time high losing prices, though they pulled back before the market closed.
Source: Bloomberg, Dow Jones, CNBC, Reuters
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