Major Wall Street indices closed over 1% higher on Tuesday, led by upbeat corporate earnings and expectations that the Federal Reserve will slow down its rate hike pace as the central bank is set to announce its monetary policy on Wednesday. The employment cost index, a crucial measure of wages considered by the Fed, showed compensation rose 1% in the fourth quarter versus estimates of 1.1%. Meanwhile, the following are the five stocks that are drawing investors’ attention:
1. Tesla Inc TSLA: Shares of Tesla closed 3.94% higher on Tuesday. The EV-maker is planning to set up an assembly plant near a new Mexico City airport, which would function as an export hub for the company, reported Reuters, citing Mexican presidential spokesman Jesus Ramirez.
Also Read: Everything You Need To Know About Tesla Stock
2. Amazon.com, Inc. AMZN: Shares of Amazon ended 2.51% higher on Tuesday. According to a ruling by a National Labor Relations Board judge, the company violated federal labor law as part of its efforts to resist unionization at two of its facilities in New York City, reported Bloomberg.
3. Apple Inc AAPL: Shares of Apple closed 0.9% higher on Tuesday. The NLRB found the company holds workplace policies that unlawfully discourage employees from discussing working conditions.
4. Context Therapeutics Inc CNTX: Shares of the company closed 55.2% higher on Tuesday. Context Therapeutics announced its clinical trial collaborator, Stemline Therapeutics, received approval from the FDA for ORSERDU in ER+, HER2-, and ESR1-mutated breast cancer.
5. Snap Inc SNAP: Shares of the company closed 3.86% higher but lost 14.1% lower in extended trading after the company announced its quarterly earnings. Snap reported a net loss of $1.43 billion for 2022 and stated it would not provide expectations for revenue or EBITDA for the first quarter of 2023, given uncertainties related to the operating environment.
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