U.S. stock markets saw a positive shift on Wednesday, with the S&P 500 and Nasdaq 100 indices turning green for the year. The market’s upbeat sentiment was buoyed by a favorable inflation report and easing trade tensions, particularly benefiting the tech sector.
The S&P 500 rose 0.1% to 5,892.58 for the day, while the Nasdaq gained 0.7% to 19,146.81. The Dow Jones Industrial Average ended Wednesday lower by 0.2% at 42,051.06.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
UnitedHealth Group Inc. UNH
UnitedHealth shares dipped 1.08% to close at $308.01, hitting an intraday high of $322.94 and a low of $307.11. The stock’s 52-week range is $307.11 to $630.73. The decline comes amid a criminal investigation by the U.S. Department of Justice into potential Medicare fraud, adding to the turmoil following the sudden exit of its CEO. In after-hours trading, UnitedHealth shares fell over 8% to $283.13.
Alibaba Group Holding Ltd. BABA
Alibaba’s stock rose 1.82% to $134.05, with a daily high of $134.51 and a low of $132.65. The 52-week high and low are $148.43 and $71.80, respectively. The stock’s upward momentum is fueled by investor optimism around its AI-driven transformation and a significant endorsement from Goldman Sachs, ahead of its upcoming earnings report.
Reddit Inc. RDDT
Reddit shares surged 11.06% to $125.32, reaching an intraday high of $130.11 and a low of $113.80. The stock’s 52-week range is $49.13 to $230.41. The rally follows strong first-quarter earnings that exceeded expectations, showcasing increased revenue, profitability, and user growth.
Rocket Lab USA Inc. RKLB
Rocket Lab’s stock climbed 10.54% to $24.13, with a high of $24.52 and a low of $21.86. The 52-week high and low are $33.34 and $4.15. The company’s shares rose following the successful return of its Pioneer spacecraft, marking its second Earth return mission in two months. Reddit posted earnings of 13 cents per share, beating the consensus estimate of 2 cents.
Tesla Inc. TSLA
Tesla shares increased by 4.07% to $347.68, with an intraday high of $350 and a low of $337. The stock’s 52-week range is $157.4 to $488.54. The rise is attributed to easing trade tensions between the U.S. and China, alongside renewed investor confidence in Tesla’s robotaxi rollout and next-gen vehicle production.
Benzinga Edge Stock Rankings shows Alibaba has Momentum in the 95th percentile and Growth in the 73rd percentile, but how does rival JD.com rank up against the Jack Ma-founded e-commerce giant in terms of Quality and Value? Find out here.
Photo Courtesy: Phongphan On Shutterstock.com
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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