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Tesla snatched biggest gain in 11 years: How long will the rally last?
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Market Climbs Following Tesla Earnings Beat | Wall Street Today

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Kevin Travers joined discussion · Oct 24 15:35
Market Climbs Following Tesla Earnings Beat | Wall Street Today
The market climbed on Thursday. The S&P 500 and Nasdaq gained on healthcare and tech while consumer, tech, and infrastructure pulled down the Dow.
Just past 4 pm ET the     $S&P 500 Index (.SPX.US)$ traded +0.21%, the         $Dow Jones Industrial Average (.DJI.US)$ fell 0.34%, and the     $Nasdaq Composite Index (.IXIC.US)$ climbed 0.46%.
MACRO
October S&P Global  climbed to 47.8 in October from 47.3 in September, above estimates. The index still suggests contraction in the sector, as does any reading under 50.
The index for services climbed to 55.3 in October from 55.2 in September, compared with expectations for a slight decrease to 55.0. The services index indicates expansion in the sector, which aligns with the Philadelphia Fed and Richmond Fed
SECTORS
$Crude Oil Futures(JAN5) (CLmain.US)$ fell back to $70/barrel. The Wall Street Journal attributed the decline to a loss of steam in conflict from the Middle East- U.S. Secretary of State Antony Blinken is planning to negotiate a Gaza ceasefire on his trip to the Middle East, according to the Journal.
Market Climbs Following Tesla Earnings Beat | Wall Street Today
$Bitcoin (BTC.CC)$ hovered at $68k. Gold climbed but silver fell.       $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the       $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell.
MOOVERS
$Capri Holdings (CPRI.US)$ shares tumbled after media reports that a federal judge on Thursday blocked $Tapestry (TPR.US)$'s planned acquisition of Capri Holdings on Thursday. The deal would have combined two of the handbag industry's biggest players. Shares of Capri slumped 50% after hours, while Tapestry shares were up 9%. The Federal Trade Commission in April moved to block the deal.
$IBM Corp (IBM.US)$ fell sharply in today's pre-market trading session following a third-quarter revenue miss of $14.968 billion vs estimates of $15.07 billion. It was pulling the Dow down with a 6% drop; the index's lowest decliner.
$Tesla (TSLA.US)$ climbed 21%, one of the highest on the S&P 500 after the firm reported Q3 adjusted earnings of $0.72/share, vs estimates of $0.59/share, on revenue of $25.18B vs estimates of $25.52B. Importantly, the firm posted a margin that grew by 19%, compared to the estimated 16%.
Shares of   $Newmont (NEM.US)$, a gold miner, were tumbling after the firm reported third-quarter adjusted earnings of 81 cents per share, below estimates of 86C, and revenue below estimates. Gold prices have been at all-time highs for nearly an entire year. It was falling 14%, at the time the lowest decliner on the S&P 500.
$Viking Therapeutics (VKTX.US)$ shares jumped 21% in Thursday trading, after reporting a narrower-than-expected loss late Wednesday.
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Market Climbs Following Tesla Earnings Beat | Wall Street Today
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
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