Nasdaq Closes Lower As Tesla Stock Dives 7%, Meta Stock Resumes Uptrend
The Tesla stock closed 7% lower today, dragging the Nasdaq lower, while most stocks such as Meta resumed the uptrend today, closing higher.
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The major US stock indices ended the session with a mixed performance, as investors navigated sector rotations and broader market uncertainty. The Dow managed to post gains, while the NASDAQ and Russell 2000 struggled, reflecting some pressure on tech and small-cap stocks. The S&P 500 remained flat, suggesting a wait-and-see approach in the broader market.
Federal officials continue to maintain a cautious “wait-and-see” approach, with little deviation in their messaging. Despite an initial dip at the open, US equities managed to climb slightly, showcasing the market’s underlying resilience. There is a renewed sense of optimism regarding China, though that particular trade narrative took a backseat today. Some investors had anticipated a more hawkish tone from Powell, but his remarks mirrored those from the post-FOMC press conference, reiterating that the Fed is in no rush to raise rates.
Closing Levels for Major US Indices:
- Dow Jones Industrial Average: Closed higher, gaining 123.24 points (+0.28%) to reach 44,593.65, extending its recent upward momentum.
- S&P 500: Edged up 2.07 points (+0.03%) to 6,068.51, maintaining stability but showing signs of hesitation at current levels.
- NASDAQ Composite: Declined 70.41 points (-0.36%) to 19,643.86, weighed down by losses in tech stocks.
- Russell 2000 (Small Caps): Dropped 12.23 points (-0.53%) to 2,275.70, underperforming as investor sentiment remained cautious toward smaller companies.
Tesla Stock Chart Daily – The 100 SMA Is Broken Without Support
Meanwhile, Tesla stands out as an exception in an otherwise strong week for major tech stocks. While many industry giants have posted gains, Tesla has struggled, experiencing a sharp and extended decline. After shedding 3.5% of its value yesterday, the stock took an even deeper hit today, dropping another 7%, adding to last week’s 10% slump and closing at $327.07, from $352 yesterday. One factor contributing to the downturn could be a recent downward revision in Tesla’s price target, as sentiment toward the EV leader appears to be weakening.
Meta Stock Chart Daily – The Upside Momentum Resumes
In other stock news Meta shares resumed the upside momentum after consolidating for several days and closed higher. Shares climbed by $2.40, or 0.3%, to $719.80. Intel’s stock jumped 6% as estimates for chip output in the United States increased owing to tariffs. Intel is establishing new production facilities in the United States. Shares closed up $1.20, or 6%, at almost $21.
Nasdaq Live Chart
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