Tesla Stock Jumps Higher Despite Stagnation in Nasdaq

Major US stock indices ended the day with minimal changes as investors awaited tomorrow’s crucial jobs report apart from tesla stock, which jumped higher. The NASDAQ managed a modest gain of 0.3%, closing at 17,127 points. In contrast, the Dow Industrial Average fell by 0.5%, settling at 40,755 points, while the S&P 500 decreased by 0.3% to finish at 5,503.42 points.

Tesla, however, saw a notable rise of about 6%, suggesting the potential for further gains. Overall, the market showed little direction, with indices fluctuating throughout the day as traders looked ahead to the significant US employment report due tomorrow. The 50 SMA (yellow) was broken n the daily chart, which opens the door for $250.

Tesla Chart Daily – Breaking Above the 50 SMA

Broadcom Earnings Report:

• EPS: $1.24 (Actual) vs. $1.20 (Expected) – “Above Expectations”
• Revenues: $13.07 billion (Actual) vs. $12.96 billion (Expected) – “Above Expectations”
• Adjusted EBITDA: $8.22 billion (Actual) vs. $7.89 billion (Expected) – “Above Expectations”
• Forward Guidance: $14 billion (Actual) vs. $14.1 billion (Estimated) – “Below Expectations”

Other Details:

• Semiconductor Solutions Revenue: $7.27 billion (Actual) vs. $7.41 billion (Expected) – “Below Expectations”
• Infrastructure Software Revenue: $5.80 billion (Actual) vs. $5.5 billion (Expected) – “Above Expectations”
• Adjusted Operating Income: $7.95 billion (Actual) vs. $7.73 billion (Expected) – “Above Expectations”
• Adjusted R&D Expense: $1.47 billion (Actual) vs. $1.47 billion (Expected) – “On Expectations”
• Capital Expenditure: $172 million (Actual) vs. $140.5 million (Expected) – “Below Expectations”

Nasdaq Index Live Chart

ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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