Wall Street witnessed a bullish rally on Wednesday, with the S&P 500 and the Dow Jones indices hitting record highs. This surge in the market was driven by optimism ahead of Thursday's Consumer Price Index inflation report and the start of the third-quarter earnings season.
On the day, the Dow Jones Industrial Average closed nearly 1% higher at 42,512, while the S&P 500 increased by 0.7% to finish at 5,792.04. The Nasdaq also rose, ending the day up 0.6% at 2,200.59.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. PLTR closed the day with a gain of 4.05%, ending at $43.13. The stock hit an intraday high of $43.34, surpassing its previous 52-week high. The company’s shares have seen a significant surge, marking a 133% year-to-date gain in 2024. Palantir’s Artificial Intelligence Platform, launched in 2023, is making strides across various industries, from defense to healthcare.
Costco Wholesale Corporation COST shares traded 2.10% higher, closing at $909.10. The company reported net sales of $24.62 billion for September, an 8.9% increase over sales from the same period last year. Comparable sales, excluding the impacts from changes in gasoline prices and foreign exchange, were up in the U.S., Canada, and e-commerce.
Boeing Inc. BA shares traded lower by 3.41%, closing at $149.37. The company is facing a potential credit downgrade due to strike risks and complicated finances. A protracted strike by the company’s machinist union has disrupted production schedules and is anticipated to cost Boeing over $1 billion per month.
Celsius Holdings, Inc. CELH shares traded higher by 6.16%, closing at $30.51. The stock has become a favorite among retail investors and chatter on social media revolved around the stock reaching key support levels and bouncing higher.
Tesla Inc. TSLA shares traded lower by 1.41%, closing at $241.05. The company’s upcoming unveiling of its dedicated robotaxi product is the first step towards unlocking a multi-trillion dollar market, according to Ark Invest analyst Tasha Keeney. She expects Tesla's upcoming robotaxi unveil and subsequent launch of its autonomous ride-hailing platform to dominate Tesla's valuation, nearing about 90% of its enterprise value over the next five years.
Photo by Phongphan on Shutterstock
Prepare for the day’s trading with top premarket movers and news by Benzinga.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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