Live Nasdaq Composite: NVDA, TSLA Rise as Markets Lick Wounds

The markets are recovering from yesterday’s massive sell-off by starting today as a mixed bag. After the worst performances from the Nasdaq Composite and S&P 500 in several years, both indexes are showing fractional movement in either direction while the Dow Jones Industrial Average slides a bit further. Wall Street’s AI darling and a Mag 7 stock Nvidia (Nasdaq: NVDA) is helping sentiment today, rising 2.6% at last check and lifting some of its tech peers.

NVDA stock as well as Broadcom (Nasdaq: AVGO) were helped by analysts at Bernstein, who reiterated their “outperform” ratings on both stocks, advising investors to pounce on any dip.

Tesla (Nasdaq: TSLA) shares are also popping with a 3.6% gain after yesterday’s double-digit-percentage drop. President Trump has come out swinging against Tesla boycotters, announcing he would be buying an EV for  himself in support of Elon Musk, whose net worth was slashed by $29 billion in yesterday’s market sell-off. Morgan Stanley analysts have reiterated their overweight rating on Tesla stock, calling the pullback in the stock a “buying opportunity.” With the exception of Apple (Nasdaq: AAPL) stock, which is falling about 2%, each of the Mag 7 stocks started the day in the green.

Southwest Airlines (NYSE: LUV) is gaining 2.5% on the day after revealing it would begin charging customers for checked bags in a first for the airline.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Down 303.11 (-0.74%)
Nasdaq Composite: Up 23.62 (+0.11%)
S&P 500: Down 20.02 (-0.34%)

Market Movers

Meta Platforms (Nasdaq: META) is testing an in-house chip for AI systems, sending the stock about 2% higher on the day.

Netflix (Nasdaq: NFLX) is gaining 2.6% on the day after growing subscribers by 24 million in H2 2024.

Kohl’s (NYSE: KSS) stock is among the biggest losers today, falling over 16% on a disappointing profit and revenue outlook.

Athletic apparel company Nike (NYSE: NKE) stock is falling 2% today despite a positive analyst note. Barclays analysts consider NKE stock an “equal weight” rating, saying that the “fundamental bottom” is near. Nike reports its quarterly results later this month.

The post Live Nasdaq Composite: NVDA, TSLA Rise as Markets Lick Wounds appeared first on 24/7 Wall St..