S&P 500 goes nowhere as Tesla tumbles
The S&P 500 went nowhere on Tuesday while the Nasdaq 100 and Russell 2000 retreated.
Consumer discretionary was far and away the worst-performing S&P 500 ETF; most gained on the day, led by consumer staples.
Tesla was bedeviled by a swath of negative news, including negative analyst commentary, poor January sales figures, and the progress that competitor BYD has made on its self-driving system.
Super Micro Computer’s torrid rally as of late reversed course in a hurry, with shares cratering ahead of its business update after the close.
On the other hand, chip darling of yesteryear Intel soared amid a flurry of bullish options activity and Vice President JD Vance’s pledge to boost domestic chip production.
Coca-Cola was a bright spot on the bad tape, posting a big gain after reporting higher-than-expected sales that included a boost to both volumes and prices.
AMC rocketed higher on elevated volumes and little news.
Financial data company FIS fizzled after reporting poor sales and providing underwhelming earnings guidance.
Hotel operator Marriott slumped after forecasting slower net room growth for 2025.
