US Stock Markets Open Flat After Tesla Earnings
The US stock markets opened flat on Thursday after Tesla and IBM announced their third quarter earnings. Minutes into the trade, the Dow Jones Industrial Average rose 29.96 points or 0.08%, S&P 500 also rose over 0.13%, while Nasdaq was up 0.01%.
Tesla and IBM were down over 5% after announcing their earnings. Tesla’s profit plunged as rising costs undercut a record quarter of vehicle sales, exposing strains on its operations. Adjusted earnings were 50 cents a share in the period, down 31% from a year ago, the company said Wednesday in a statement. Tesla’s operating expenses soared 50% to $3.4 billion in the quarter, and it now estimates the impact of US tariffs was $400 million in the period.
Impact on Indian Investors
Indian investors looking to invest in the US stock markets should be aware of the current trends and news. They can visit https://sharemarketcoder.in/?s=US+stock+market+news to stay updated on the latest news and trends. Additionally, they can also check https://sharemarketcoder.in/?s=how+to+invest+in+US+stock+market to learn more about investing in the US stock markets.
Wall Street Closes in the Negative
This comes after Wall Street closed in the negative on Wednesday with Dow Jones down 0.7% and S&P 500 and Nasdaq Composite seeing a decline of 0.5% and 0.9%, respectively.
With employment remaining the biggest fear, “we don’t think the CPI number tomorrow will carry much weight as the Fed meeting starts next Tuesday,” Andrew Brenner at NatAlliance Securities told Bloomberg.
Sectoral Indices
In the early minutes of trading, nine of the 11 sectoral indices were trading in green. Energy and Industrial sectors led the advance, while consumer discretionary and consumer staples were the sectors in red.
Nike Inc., Amazon.com, Goldman Sachs Group Inc. and Boeing Co. were amongst the gainers for the day. On the other hand, McDonald’s Corp., Coca-Cola Co. and Microsoft Corp. were in the red.
Commodity Markets
As the US market opened, spot gold rose 1% to $4,140.10 an ounce. Crude oil prices rose, with the West Texas trading 5.1% higher at $61.47 per barrel.
The Bloomberg Dollar Index was little changed, with the British Pound at $1.3345 and the Japanese yen fell 0.4% at 152.54 per dollar.
Bitcoin, the largest traded cryptocurrency was up 1.3% at $109,136.22.
Indian Stock Market
Indian investors can also visit https://sharemarketcoder.in/?s=Nifty+today to stay updated on the latest Nifty levels and news. Additionally, they can also check https://sharemarketcoder.in/?s=Sensex+news to stay updated on the latest Sensex news and trends.
Conclusion
In conclusion, the US stock markets opened flat on Thursday after Tesla and IBM announced their third quarter earnings. Indian investors should be aware of the current trends and news in the US stock markets and can visit https://sharemarketcoder.in/?s=US+stock+market+trends to stay updated.