Stocks opened higher on Thursday after data showed the U.S. economy remained strong in the final three months of 2023. However, major indexes lost steam around midday, pressured by a negative reaction from U.S. earnings. Magnificent 7 actions tesla TSLA ).
Before the opening bell, the Office of Economic Analysis GDP
The data points to an economy that remained resilient even as the Federal Reserve raised rates. Interest rates inflation next Fed meeting
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However, a series of recent economic reports have echoed today's data and reduced market expectations for a rate cut in March. In fact, according to the CME Group report FedWatch tool
Tesla Stock Soars After Earnings
In individual stock news, Tesla fell 12.1% after the electric vehicle maker reported earnings. In the fourth quarter, TSLA revealed earnings of 71 cents per share on $25.2 billion in revenue, while analysts expected earnings of 74 cents per share on $25.6 billion in sales. And while operating margin improved quarter over quarter to 8.2%, it was much lower than the 16% operating margin reported in the same period a year earlier.
Still, CFRA investigation rumored plans
PARA appears in response to the rumor that the company could be privatized
Elsewhere, Paramount Global (FOR ) - a member of Warren Buffett 's Berkshire Hathaway Stock Portfolio According to CNBC
The news of the layoffs comes immediately after Wednesday headlines
Regarding the main indices, the Dow Jones Industrial Average S&P 500 gained 0.5% to 4,894, and the Nasdaq Compound
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