Dow Jones Futures Rise After Stock Rout; These 5 Stocks Are Big Movers
Dow Jones futures rose solidly late Wednesday, along with S&P 500 futures and Nasdaq futures, but that came after Wednesday's stock market rout slammed the major indexes. After the close, Tesla (TSLA), Microsoft (MSFT), Advanced Micro Devices (AMD), Visa (V), Align Technology (ALGN) and O'Reilly Auto Parts (ORLY) were notable stocks moving on earnings.
Tesla stock soared late, while Dow Jones components Visa and Microsoft advanced. But AMD stock, Align stock and O'Reilly stock crashed....MORE
Dow Jones Futures Today
Dow Jones futures rose 0.4% vs. fair value. S&P 500 futures advanced 0.4%. Nasdaq 100 futures popped 0.7%. Remember that action in Dow futures, Tesla stock, AMD stock and elsewhere doesn't necessarily translate into actual trading in the next regular session. That's often been true in the current stock market correction, with big moves intraday and after hours.
In Wednesday's stock market trading, the Dow Jones slid 2.4%, falling below its 200-day line even with Dow giant Boeing (BA) rising on earnings. The Nasdaq composite plunged 4.4%, and the S&P 500 index lost 3.1%. All three indexes undercut Tuesday's intraday low. The latest stock market rout wiped out all the Dow Jones and S&P 500 gains for 2018.
Bottom line: It's a stock market correction.
Tesla earnings came in at $2.90 a share, blowing out estimates for a 19-cent loss. Revenue soared to $6.8 billion as Tesla Model 3 output picked up.
Shares jumped 12% in late trading. Tesla stock closed down 1.9% to 288.50. Shares shot up nearly 13% Tuesday after short-seller Citron Research went long on Tesla.
Analysts likely will have questions about Model 3 production, operating costs, capital spending and more for Elon Musk in the post-earnings conference call beginning at 6:30 p.m. ET.
Here's their immediately after the close post (4:12 PM ET)
The Stock Market Correction Just Got A Lot Worse
If interested here is Tesla's Investor page.