On Tuesday, November 12, 2024, the US stock market closed with mixed results. The Dow Jones Industrial Average fell by 0.86%, the NASDAQ Composite decreased by 0.09%, and the S&P 500 declined by 0.29%.

In sector performance, US cannabis stocks surged by 4.86%, with notable gains in Canopy Growth Corporation, Tilray Inc., and Cronos Group Inc.. US silver stocks also saw an increase of 1.40%, including Pan American Silver and First Majestic Silver. Conversely, US e-commerce stocks dropped by 2.39%, with Alibaba Group, Pinduoduo Inc., and JD.com among the decliners. The US solar energy sector experienced a significant decline of 5.58%, with Daqo New Energy Corp. and Enphase Energy leading the losses.

Meta Platforms Inc. saw a slight increase of 0.28% after hedge fund ValueAct Capital took a $1 billion stake in the company, indicating potential for future growth. Tesla Motors dropped by 6.10% due to a significant decline in its October retail sales in China, which fell by 43.9% month-over-month, largely attributed to the export of most Model Y and 3 units.

Shopify Inc. experienced a massive gain of 21.04% following its third-quarter results, which showed a 26% increase in sales and a 24% increase in gross merchandise volume. The company expects continued growth in the fourth quarter, with revenue growth forecasted in the mid- to upper 20% range.

Netflix rose by 1.75% as its ad-supported tier now has 70 million monthly active users globally, nearly doubling the number reported earlier this year. This growth is driven by the increasing adoption of its ad-based plan and recent popular shows and live streaming events.

Boeing fell by 2.54% after Spirit AeroSystems entered into an advance payments agreement with Boeing, committing to pay up to $350 million to address financial challenges faced by Spirit AeroSystems.