The US stock market closed lower on Wednesday, with major indices experiencing losses. The Dow Jones Industrial Average dropped nearly 1% to 42,514.95, the S&P 500 followed suit with a similar decline, closing at 5,797.42, and the Nasdaq saw a steeper drop of 1.6%, ending the day at 18,276.65.
Several stocks caught the attention of retail traders and investors throughout the day. Here’s a breakdown of some of the key movers:
Tesla Inc. (TSLA)
closed the day down 1.98% at $213.65, after reaching an intraday high of $218.72 and a low of $212.11. The stock’s 52-week range is $271 to $138.8. The Elon Musk-led company reported third-quarter revenue of $25.18 billion, an 8% year-over-year increase, but missing the Street consensus estimate.Spirit Airlines, Inc. (SAVE)
experienced a significant surge of 45.97%, closing at $3.08. The stock reached an intraday high of $3.2 and a low of $2.53, with a 52-week range of $17.49 to $1.4. The airline is once again exploring a merger deal with Frontier Group Holdings Inc. amid potential bankruptcy filing talks.International Business Machines Corp (IBM)
ended the day with a slight increase of 0.22% at $232.75. The stock’s intraday high was $233.34 and the low was $230.26. It has a 52-week range of $237.37 to $136.05. IBM reported third-quarter revenue of $14.968 billion, missing the consensus estimate.Boeing Co (BA)
closed down 1.76% at $157.06, after reaching an intraday high of $161.47 and a low of $153.53. The 52-week range for the stock is $267.54 to $146.02. Boeing reported a 1% year-over-year revenue decline in the third quarter of 2024.Arm Holdings Plc (ARM)
saw a decline of 6.67%, closing at $142.41. The stock hit an intraday high of $148.44 and a low of $140.7, with a 52-week range of $188.75 to $47.14. The company has reportedly threatened Qualcomm Inc. with the cancellation of its chip design license.These developments highlight the ongoing volatility in the market as investors grapple with economic uncertainties and company-specific news. Stay tuned for further updates on these stocks and other market movers.
