Stock market today: Nasdaq poised for a comeback as Tesla earnings lift spirits

Published On Oct 24, 2024, 12:03 PM

The Nasdaq gained about 0.6% following Tesla's strong quarterly earnings report, which marked its largest profit in over a year. Investors are optimistic about an upcoming earnings season, with Tesla's stock jumping over 15% due to forecasts of 20%-30% expansion in EV sales for 2025. In contrast, Boeing's stock fell nearly 3% after workers rejected a pay deal amid a $6 billion quarterly loss. Economic data showed a decline in jobless claims, indicating resilience in the labor market, which may impact Federal Reserve policies.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Positive

Tesla's earnings positive outlook and significant sales growth forecast make it an attractive investment. The strong performance could lead to further stock appreciation.

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Negative

Boeing faces ongoing labor issues and significant losses, which may hinder recovery in its stock price in the near term.

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