The Federal Reserve cut interest rates by 0.25 percentage points on Thursday, bringing the federal funds rate to 4.5%-4.75%, its lowest since February 2023. The Fed's statement acknowledged solid economic growth and easing inflation but omitted prior language on confidence in reaching the 2% inflation target.
On Thursday, the Dow Jones Industrial Average was flat at 43,729.34 and the S&P 500 rose 0.7% to 5,973.10 while the Nasdaq spiked 1.5% to 19,269.46.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Rivian Automotive (NASDAQ:RIVN) closed the day with a 3.35% gain at $10.04. The stock's intraday high and low were $10.24 and $9.81, respectively, with a 52-week range of $24.61 to $8.26. Rivian reported third-quarter revenue of $874 million, missing the Street consensus estimate of $1.00 billion.
DraftKings Inc. (NASDAQ:DKNG) ended the day with a 1.91% increase at $38.98. The stock's intraday high and low were $39.38 and $38.3, respectively, with a 52-week range of $49.57 to $28.69. DraftKings reported third-quarter revenue of $1.095 billion, up 39% year-over-year, but missed the Street consensus estimate.
Block, Inc. (NYSE:SQ) fell by 3.05% to close at $75.27. The stock's intraday high and low were $78.08 and $74.94, respectively, with a 52-week range of $87.52 to $50.63. The Jack Dorsey-led company reported quarterly earnings of 88 cents per share, beating the analyst consensus estimate, but revenue missed the consensus estimate.
Pinterest Inc. (NYSE:PINS) saw a 0.50% increase to close at $33.93. The stock's intraday high and low were $34.65 and $33.91, respectively, with a 52-week range of $45.19 to $27. Pinterest reported third-quarter revenue of $898 million, beating the consensus estimate, but earnings per share missed analyst estimates.
Tesla Inc. (NASDAQ:TSLA) rose by 2.90% to close at $296.91. The stock's intraday high and low were $299.75 and $285.52, respectively, with a 52-week range of $299.75 to $138.8. Elon Musk's net worth soared by $26.5 billion in a single day following Donald Trump's victory in the 2024 election.
Prepare for the day's trading with top premarket movers and news by Benzinga.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
