The stock market had a mixed day on Thursday, with the Dow Jones Industrial Average hitting a 52-week high, while the Nasdaq retreated from its recent gains. The Dow was boosted by strong performances from companies like Salesforce and UnitedHealth Group, while the Nasdaq pulled back, with stocks like Nvidia and Meta Platforms undercutting buy points.
After hours, attention turned to earnings reports from companies like Dell Technologies, Elastic, and Ulta Beauty. While some companies reported disappointing results, others, like Elastic and Ulta Beauty, saw their stocks surge by more than 10% in extended trade.
Meanwhile, Tesla held its long-awaited Cybertruck event, with CEO Elon Musk handing over a dozen Cybertrucks to customers. The company also revealed prices and battery range for the electric pickup. Despite the event, Tesla stock fell on Thursday and continued to lose ground after hours.
Looking ahead to Friday, investors will be watching for November deliveries from Chinese electric vehicle rivals Li Auto, XPeng, and Nio, as well as a speech from Fed chief Jerome Powell and the release of manufacturing and construction data.
In premarket trading, Dow Jones futures were flat, S&P 500 futures lost 0.1%, and Nasdaq 100 futures fell 0.15%. The 10-year Treasury yield fell slightly to 4.33%.
Overall, the stock market rally has been a mixed bag, with the Dow leading the way and the Nasdaq pulling back from its recent gains. As investors continue to navigate the market, it’s important to stay engaged, remain flexible, and be prepared for potential pullbacks.