Major Wall Street indices ended lower on Tuesday as investors and traders braced for policy moves from the U.S. Federal Reserve on Wednesday.
Better-than-expected jobs data also means the central bank has more leeway to carry on with its aggressive policy. Job openings, a measure of labor demand, rose 437,000 to 10.7 million on the last day of September, reported Reuters. Meanwhile, here are the five stocks that are drawing retail investors’ attention.
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1. Amazon.com, Inc. AMZN: Shares of the retail giant closed 5.52% lower on Tuesday, taking the company’s market cap below the $1 trillion level for the first time since April 2020. Its market cap currently stands just above $987 billion as of Tuesday’s close. Investors and traders continued to punish the stock after the company released a disappointing fourth-quarter guidance. Amazon projects fourth-quarter revenue to be in the range of $140 billion to $148 billion versus an analyst estimate of $155.15 billion.
2. Advanced Micro Devices, Inc. AMD: AMD reported third-quarter revenue of $5.565 billion, up 29% year-over-year. The revenue total missed a Street estimate of $5.62 billion. The company projects fourth-quarter revenue in the range of $5.2 billion to $5.8 billion. Shares of the chip-maker closed 0.67% lower on Tuesday.
3. Alphabet Inc GOOGL GOOG: Former Google CEO Eric Schmidt’s philanthropic arm has issued recommendations intended at encouraging U.S. politicians to counter China’s rising technological ambitions, reported Bloomberg. Shares of Alphabet closed over 4% lower on Tuesday amid general market weakness. Investors continued to digest last week’s earnings where the company reported a revenue of $69.09 billion, up 6% year-over-year, with the total coming in below Wall Street estimates of $70.9 billion.
4. ProShares UltraPro QQQ TQQQ: The ProShares UltraPro QQQ, one of the largest leveraged ETFs tracking the Nasdaq-100 index, closed 3.1% lower on Tuesday. The ETF is built for short-holding periods to deliver triple the daily returns of the Nasdaq 100 index.
5. Tesla Inc TSLA: Tesla reportedly intends to commence mass production of its Cybertruck at the end of 2023, two years after the initial target for the much-awaited pick-up truck. Shares of Tesla closed 0.12% higher on Tuesday.
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