On Thursday, Tesla (TSLA, Financial) emerged as the highest traded stock in the U.S. market, closing up by 2.90%, with a trading volume of $34.051 billion. The stock continues to be viewed as a "Trump concept stock" by many investors, partly due to Elon Musk's vocal support for Trump's campaign. Analysts suggest that Musk may be hopeful of regulatory relaxation, particularly concerning autonomous driving technology, under a Trump administration.
Separately, Tesla's potential plans for expansion in Mexico are under consideration. Mexico's Economy Minister, Marcelo Ebrard, is set to meet with Musk to discuss establishing an electric vehicle factory in northern Mexico. However, Tesla previously announced plans to produce more affordable cars using existing facilities, indicating that investment in new factories, including in Mexico, is unlikely in the short term.
NVIDIA (NVDA) closed 2.25% higher, with a trading volume of $30.02 billion. The company's market capitalization reached $3.652 trillion, solidifying its position as the world's largest by market value. Goldman Sachs maintained a "buy" rating for NVIDIA, forecasting a significant earnings boost in the upcoming quarters due to advancements like Blackwell and improved supply conditions. The firm predicts non-GAAP earnings per share of $4.63 and $5.54 for fiscal years 2025 and 2026, respectively, exceeding market expectations by 14%.
Amazon (AMZN) rose by 1.43%, trading $11.004 billion. Amazon Web Services (AWS) plans to invest €1.2 billion in Italy over the next five years to enhance its data center operations. The expansion is part of its broader strategy to bolster cloud services in Europe, and by 2029, AWS aims to invest a total of €2 billion in the region, creating up to 5,500 jobs across various sectors.
Apple (AAPL) gained 2.14%, with a trading volume of $9.316 billion. The European Commission is set to impose its first fine under the Digital Markets Act, potentially reaching €1.8 billion, due to Apple's restrictions on app developers directing users to non-Apple purchase options, allegedly preventing users from accessing cheaper prices.
Meta Platforms increased by 3.44%, trading at $8.493 billion, while Microsoft (MSFT) rose 1.25%, with $8.328 billion in transactions. Microsoft launched a new AI-powered text editing feature called "Rewrite" in its Notepad software for Windows Insiders, alongside new AI image editing tools in Paint.
MicroStrategy saw a 5.04% rise, with a trading volume of $6.359 billion, as U.S. cryptocurrency stocks climbed. Former President Trump has expressed a pro-cryptocurrency stance, pledging to position the U.S. as a crypto hub.
Mercadolibre, the largest e-commerce platform in Latin America, fell by 16.21% with $5.285 billion in trades. AppLovin's (APP) shares soared by 46.27%, driven by a strong earnings report. Alphabet's (GOOGL) A shares rose 2.40%, with Q3 revenue of $88.268 billion, marking a 15% increase year-over-year.
AMD gained 3.25%, trading $4.398 billion. Notably, AMD's data center revenue surpassed Intel's, indicating a market shift towards AMD. Meanwhile, financial stocks like JPMorgan Chase declined by 4.32%, trading $3.827 billion, and UnitedHealth Group saw a 1.47% increase, with $3.133 billion in trades, following positive earnings reports from competitors.
