Direct from Wall Street | US stock markets weak, Nasdaq +0.1%. Tesla rises (+12.1%) due to Elon Musk’s promises

Wall Street closes weak: Dow Jones -0.1%, S&P 500 +0.02%, Nasdaq +0.1%. Tesla is up (+12.1%) despite the company reporting a halved profit and a nearly 10% drop in revenue in the first quarter. But Elon Muskduring the presentation of the quarterly accounts, he promised new, more economical models.

The US quarterly reporting season is off to a good start, “with 70 companies in the S&P 500 reporting results that beat analysts’ estimates by an average of 10%”, he insists. Steven Bell, chief economist for EMEA at Columbia Threadneedle Investment. However, the trend “can be partly attributed to the downward revision of analysts’ forecasts before the earnings season”, from 7% at the beginning of the year to 2% now. The downward revision, continues Bell, “is concentrated in the healthcare, energy, materials and industrial sectors” while the estimated profit of Beautiful Seven “are revised upwards by 6%, for expected growth of 38% per year”. Excluding these technology leaders, “the remaining 493 companies in the S&P 500 are expected to record negative growth for the fifth consecutive quarter, with a forecast of -2%,” concludes the expert.

At the same time on the part of the company’s CEO Trump Media, Devin Nune, called on House Republican leaders to investigate possible “illegal manipulation” of the company’s stock. According to Nunes the stock, which is a victim of short selling naked, the practice of selling company shares without first borrowing them for that purpose. Trump Media is up about 9.5%

5.30pm – The price lists are still conflicting. Joe Biden signs law against TikTok

US stock markets remain mixed as they await the next inflation data, due on Friday 26 April. Two hours after the start of trading, the Dow Jones lost 0.3%, the S&P 500 turned lower and lost 0.1% while the Nasdaq remained in positive territory and grew by 0.2%. Yields on US government bonds are still rising with the two-year Treasury reaching 5% and the 10-year at 4.65%. Both bonds return yield levels they haven’t had since November 2023.

The price of petroleum oil in a volatile period in which prices rose for a while after the release of the data weekly stocks, decreased by 5.6 million barrels. The package of laws approved by the US Senate also includes strengthening sanctions against Iranian oil and targeting ports, ships and oil refineries that accept the Islamic Republic’s crude shipments.

In that package, a “sell or ban” law was approved that mandates the sale (or ban) of. TikTok in the United States: President Biden signed the provision, setting the deadline for ByteDance, the Chinese company that owns the video platform, on January 19, 2025. By that date the company will have to decide whether to sell the business in the United States or accept a software bid.

3.30pm – US stock markets open mixed

3.30pm Wednesday 24th April Dow Jones it loses 0.1%.S&P 500 earns 0.1% and Nasdaq growing by 0.5%. The euro/dollar exchange rate is 1.0697. Oil prices are falling with Brent trading at 88.2 dollars per barrel (-0.2%) and WTI at 83 dollars (-0.4%). Performance of Treasury for 10 years however, it remains above 4.6%.

“A growing amount debt The United States, worth 34 trillion dollars, does not doubt the ability of the US Treasury to finance itself, but it needs high returns to attract a sufficient number of investors to take the funds,” he explains. Raffaele PrincipeDpam fixed income fund manager,

At the same time, the US Congress has approved, after a long negotiation process between Democrats and Republicans, an aid fund for several countries. Delivery has 61 billion aid of dollars forUkraine, 26 billion for Israel and 8 billion for Taiwan and the Indo-Pacific region. The controversial law was also passed in the same fund “sell or ban” which puts to the Chinese company ByteDance, the owner of TikTokchoose between selling the software in the US or banning it within a year.

About the total data of the day, in March durable goods orders in the United States they returned to growth by 2.6% to 283.4 billion dollars, according to analysts’ expectations. Excluding orders from the travel sector, the figure increased by 0.2% compared to +0.1% in February, revised from a previous +0.5%. Five stocks to watch on Wednesday 24 April.

1) Tesla rallying thanks to Musk’s promises

At 3.30pm shares in Elon Musk’s carmaker were up 11%, despite the company reporting a halving in profit and a nearly 10% drop in revenue in the first quarter. Musk, during the data presentation, promised new, cheaper models.

2) Boeing grows after better-than-expected accounts

At 3.30 pm Boeing shares increased by 3.8%. In the first quarter, the company reported an adjusted loss of $1.13 per share, better than the loss of $1.76 per share estimated by Lseg analysts. Revenue of $16.57 billion also exceeded forecasts.

3) Nvidia towards the availability of Run: ai

At 3.30 pm the American chip giant gained 1.5%. According to the Israeli financial newspaper CalcalistNvidia is reportedly close to closing the acquisition of startup Run:ai for nearly $700 million.

4) Airbnb promoted by Mizuho

At 3.30pm the short-term lease was up 3% after Mizuho brought the stock to buy from either side. Mizuho noted some of the drivers, including the potential launch of sponsored ads and increased demand from the Olympics.

5) Moderna in collaboration with OpenAI

At 3.30pm Moderna shares were up 1%. The pharmaceutical company has partnered with OpenAI to use Sam Altman’s company’s AI generation tools in the field of mRNA medicine.

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