The S&P 500 reached a new all-time high on Wednesday, while other major U.S. indices closed with mixed results. The Dow increased by 0.13% to reach 38,612.24, but the NASDAQ experienced a small decline of 0.32% to settle at 15,580.87. In contrast, the S&P 500 managed to close in positive territory, gaining 0.13% and reaching 4,981.80.
The highlight of the trading day was the release of Nvidia Corporation’s fourth-quarter earnings data. The company’s non-GAAP earnings per share exceeded expectations at $5.16 compared to the Wall Street estimate of $4.64.
Here are the top stocks that attracted the attention of retail traders and investors throughout the day:
1. Nvidia Corp (NASDAQ: NVDA)
Nvidia’s stock dipped 2.85% to close at $674.72. In after-hours trading, however, the shares soared 9.07% to $674.72. The company’s fourth-quarter earnings beat expectations, driven by significant growth in its Data Center and Gaming sectors. Nvidia’s forward guidance also exceeded forecasts, indicating strong demand for its accelerated computing and AI technologies.
2. Rivian Automotive (NASDAQ: RIVN)
Rivian’s shares fell 3.15% to end at $15.39. The stock has fluctuated between $11.68 and $28.06 over the past year. While the company beat revenue estimates in the fourth quarter, it missed EPS projections and announced a workforce reduction to improve cost efficiency. Rivian remains focused on the full electrification of the automotive industry but has a cautious outlook for 2024 due to economic uncertainties.
3. Intuitive Machines Inc (NASDAQ: LUNR)
LUNR’s stock plummeted 15.20% to close at $9.32. Despite the day’s stock volatility, the company’s Nova-C class lunar lander is en route to the Moon, highlighting its pioneering role in space exploration. The stock’s 52-week range is $2.09 to $136.00.
4. Etsy Inc (NASDAQ: ETSY)
Etsy saw a positive change of 1.66%, closing at $77.13. The stock’s 52-week range is $58.20 to $133.49. Despite mixed fourth-quarter results, Etsy’s CEO, Josh Silverman, remains optimistic about growth initiatives, including the launch of “Gift Mode” to enhance the gifting experience. The company anticipates a stronger performance in the latter half of 2024, with significant investments in product and marketing.
5. Tesla Inc (NASDAQ: TSLA)
Tesla’s stock slightly increased by 0.52%, ending the day at $194.77. The stock’s 52-week range is $152.37 to $299.29. Tesla continues to dominate the EV market, especially in California, where the Model Y and Model 3 were the top-selling vehicles in 2023.
Overall, the S&P 500 reaching an all-time high indicates positive market sentiment. Investors will continue to closely monitor the performance of these top stocks and the overall market conditions.
Note: This article is for informational purposes only and does not constitute investment advice.
