Technology stocks outperformed last Wednesday, pushing the Nasdaq Composite up approximately 0.6%, marking a strong finish. Meanwhile, the S&P 500 registered a slight increase of 0.2%, continuing to recover from the longest losing streak of 2024. On the other hand, the Dow Jones Industrial Average suffered a small decline of 0.1%.

Tesla, led by Elon Musk, saw its shares soar nearly 12% after announcing plans to accelerate the rollout of more affordable electric vehicles, news that overcame concerns over recent financial results and a drop in revenue. “This has encouraged investors concerned about growth amid a strategic shift to robotaxis and the planned cancellation of a cheaper model,” said the company’s CEO.

Expectations surrounding the profits of large technology companies were amplified after the first reports of the so-called “Magnificent Seven”. Now, eyes are on Meta, which is expected to release its results after the market closes. Shares of the Facebook owner rose in anticipation of a possible ban on TikTok, also boosted by the vote in the Senate. Microsoft and Alphabet are also scheduled to reveal their results on Thursday, keeping the market on alert.

Boeing, in turn, reported better-than-expected results for the first quarter, before the market opened. The company reported a loss per share of $1.13, well below the $1.72 loss predicted by Wall Street analysts. Its shares experienced a rise of about 2% in morning trading.

At the time of publication, the price of BTC was quoted at US$66,044.74 with a drop of 0.5% in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.


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