The U.S. stock market closed with a mixed bag on Tuesday, with the Dow Jones Industrial Average dipping slightly by 0.4% to 41,606.18. Meanwhile, the broader S&P 500 index edged up a modest 0.03% to 5,634.58, while the tech-heavy Nasdaq Composite gained 0.2%, finishing at 17,628.06.
The market’s focus is now firmly on the Federal Reserve’s meeting scheduled for Wednesday, where a cut in interest rates is widely expected. This potential rate cut has investors eagerly awaiting the Fed’s pronouncements and their impact on the market’s trajectory.
Here’s a look at some of the key stocks that captured the attention of retail traders and investors throughout the day:
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Intuitive Machines, Inc. (LUNR):
The company’s stock plunged by 5.59%, closing at $5.40, after hitting an intraday high of $5.87 and a low of $5.34. However, Intuitive Machines shares surged by an impressive 55.6% to $8.40 in extended trading after securing a lucrative NASA contract for communication and navigation services in the near-space region. This contract win signifies a significant boost for Intuitive Machines, signaling its growing role in the burgeoning space industry.*
Netflix Inc. (NFLX):
The streaming giant saw its stock rise by 1.49%, closing at $706.91. The stock reached an intraday high of $707.63 and a low of $698.37. Co-CEO Ted Sarandos made headlines with his assertion that there is “no such thing as too much content” in the ever-evolving streaming landscape, highlighting Netflix’s continued commitment to expanding its content library.*
Li Auto Inc. (LI):
The Chinese electric vehicle manufacturer’s stock soared by 12.28%, closing at $21.39. The stock hit an intraday high of $21.40 and a low of $20.21. This surge in Li Auto’s stock was attributed to a report suggesting that the People’s Bank of China plans to cut the bank reserve requirement ratio, a move that could inject more liquidity into the market and benefit Chinese companies, including Li Auto.*
Trump Media & Technology Group Corp (DJT):
The company’s stock fell by 6.60%, closing at $16.14, after reaching an intraday high of $17.09 and a low of $16.10. Former President Donald Trump’s launch of a new decentralized finance platform centered around a crypto token generated headlines, but it seems the market wasn’t entirely convinced by the move.*
Tesla Inc. (TSLA):
The electric vehicle maker’s stock increased by 0.48%, closing at $227.87. The stock reached an intraday high of $234.57 and a low of $226.55. Tesla’s decision to switch to “Full Self-Driving Supervised” for new cars sparked a flurry of conspiracy theories, adding further intrigue to the already-volatile stock.While investors await the Federal Reserve’s pronouncements, the market’s performance will continue to be shaped by a confluence of factors, including economic data, geopolitical developments, and company-specific news.
Stay tuned for further updates on the market’s performance and the Federal Reserve’s decision.
