Moovin Stonks | Tesla Didn't Deliver on Deliveries, Market Sighs

Kevin Travers joined discussion · Oct 2, 2024 22:58

Moovin Stonks | Tesla Didn't Deliver on Deliveries, Market Sighs

Good morning, traders. Happy Wednesday, October 2, the market is falling, a boring day after a crazy day. My name is Kevin Travers; here stonks and stories mooving the U.S. stock market today.

$Tesla (TSLA.US)$ fell 5%, the lowest on the Nasdaq after it posted Q3 deliveries that grew YoY and QoQ. The firm shipped 462,890 vehicles during the July-to-September period, nearly on point but 1,003 less than the highest of estimates. The result was a 6.4% increase over the third quarter of last year when its sales were impacted by factory upgrades that paused production.

$Humana (HUM.US)$ shares fell 17%, the lowest on the S&P 500 after the firm warned its insurance plans were facing a potential cut in the Medicare rating system. According to preliminary ratings released last night, Humana is facing a star rating cut: about 70% of its 4.5-star rated plans would fall to 3.5, meaning 15% less government rebates.

Nike $Nike (NKE.US)$ shares were down nearly 8% in recent Wednesday trading after the company reported lower fiscal Q1 earnings and an 8% drop in revenue, and cut its Q2 guidance to another loss of 8-10% YoY. The company reported fiscal Q1 earnings late Tuesday of $0.70 per diluted share, down from $0.94 a year earlier. Revenue for the quarter fell to $11.59 billion from $12.94 billion a year earlier. The firm also slashed guidance

Within industries tracked by moomoo, $Bilibili (BILI.US)$ was still leading live streaming services higher, climbing 83% in the past eight days on Chinese stimulus.

$Crude Oil Futures(APR5) (CLmain.US)$ climbed again following an Iranian missile barrage on Israel Tuesday. The IDF reported little damage, and Israel and its allies have not announced or taken retaliatory action.

$Bitcoin (BTC.CC)$ climbed $61k, gold fell while silver kept climbing $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.

The market fell Wendesday morning, but indexes were flat right before 11 am ET. The $S&P 500 Index (.SPX.US)$ climbed 2 bps, the $Dow Jones Industrial Average (.DJI.US)$ climbed 11 bps, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 6 bps.

US September ADP Nonfarm Employment came in at 143,000 vs 124,000 forecasts, higher than last month's 99,000.

Meanwhile, crude oil inventories came in much higher than estimated: firms added 3.889M barrels compared to a cut of 4.471M last week.

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Yesterday, users watched a dramatic horror unfold, while oil climbed, and ports shut down. User Stock_Drift said he thinks UPS and Fedex may see some action as air shippers while boats are kept from bay.

Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

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