US Stocks Mixed, Tesla Up 3.64%, Broadcom Down 3.91%
Market Watcher12-18
On December 17, 2024, the US stock market closed with mixed results. The Dow Jones Industrial Average fell by 0.61%, the NASDAQ Composite decreased by 0.32%, and the S&P 500 declined by 0.39%.
In terms of industry sectors, the new energy vehicle sector saw significant gains, with Tesla ($TSLA$) rising by 3.64%, NIO ($NIO$) up by 2.71%, and XPeng ($XPEV$) increasing by 3.63%. The cannabis sector also performed well, with Aurora Cannabis ($ACB$) up by 4.20% and Tilray ($TLRY$) increasing by 3.33%. On the other hand, the semiconductor sector experienced a decline, with NVIDIA ($NVDA$) down by 1.22% and Broadcom ($AVGO$) falling by 3.91%.
Tesla ($TSLA$) saw a significant increase of 3.64%, reaching a new all-time high with a market capitalization exceeding $1.5 trillion. This surge was driven by positive earnings guidance and strong market performance.
NVIDIA ($NVDA$) dropped by 1.22% due to concerns over a slowdown in AI spending and rumors of overheating issues with its AI systems. Despite announcing a collaboration with Verizon to develop AI applications on Verizon's 5G private network, the stock continued to decline.
Amazon ($AMZN$) fell by 0.76% following news of an investigation by Italian authorities into tax and labor practices, including allegations of invoice fraud and illegal labor activities.
Alphabet ($GOOG$) decreased by 0.52%, despite the overall surge in quantum computing stocks. Google's stock hit a new high, driven by advancements in AI-driven content generation tools.
Meta Platforms ($META$) declined by 0.77% even as Truist Securities maintained a 'Buy' rating and raised the price target to $700 per share, indicating a positive outlook for the company's growth.
Broadcom ($AVGO$) experienced a significant drop of 3.91%, despite the record high of its shares. The decline was attributed to broader market trends and sector-specific challenges.
Pfizer ($PFE$) rose by 4.67% after releasing its 2025 full-year guidance, projecting revenues between $61 billion and $64 billion and adjusted diluted EPS between $2.80 and $3.00. The company expects COVID-19 vaccine and drug sales to remain consistent with 2024 levels.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.