Top Stock Movers Now: Nvidia, Axon, Stellantis, and More

Key Takeaways

U.S. equities rallied from their recent slump at midday, driven higher by tech sector optimism. The Nasdaq was up more than 1%, and the Dow Jones Industrial Average and S&P 500 rose as well.

Nvidia ( NVDA ) shares advanced ahead of the artificial intelligence (AI) chipmaker's much-anticipated earnings report coming later today.

Shares of Axon Enterprise ( AXON ) took off after the Taser manufacturer easily beat earnings and revenue estimates and gave strong guidance on increased demand for its Taser 10 weapon, portable cameras, and premium subscriptions.

Super Micro Computer ( SMCI ) shares jumped when the computer server producer finally released financial reports, preventing a possible Nasdaq delisting.

Shares of Molina Healthcare ( MOH ) and other healthcare providers slid after the U.S. House of Representatives passed legislation that cuts federal spending on Medicaid.

Stellantis ( STLA ) shares declined after the carmaker behind brands such as Jeep and Chrysler posted weaker-than-expected results as it continued to struggle with falling sales and swelled inventory.

Shares of Lucid Group ( LCID ) sank when the luxury electric vehicle (EV) manufacturer’s CEO unexpectedly resigned.

Oil futures fell. Gold prices gained. The yield on the 10-year Treasury note was basically flat. The U.S. dollar climbed versus the pound and yen, and was little changed against the euro. Bitcoin traded lower.

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