On Tuesday, Wall Street began trading sideways after a bullish day on Monday. The S&P 500 index opened down 0.1 percent, while the Nasdaq technology index opened up 0.1 percent. Similarly, the Dow Jones opened with a 0.1 percent increase.
One of the world’s largest companies by market value, electric car manufacturer Tesla, saw a more than six percent increase in its stock on Monday. This rise was attributed to investors capitalizing on the company’s second quarter sales figures, which were released before Tuesday’s trading session began. During the second quarter, Tesla exceeded analyst expectations by selling a total of 440,000 cars when estimates were at 436,000. This news led to a cheerful start to Tuesday’s trading day with a 5.5 percent increase in the company’s stock.
In pre-trading activity before the stock market opened, traditional media company Paramount Global saw more than a three percent increase in its share price. It was reported that the company is in negotiations for a potential merger with Warner Bros. Discovery, which could be a significant move in the streaming service industry. Paramount Global’s class B share opened Tuesday’s trading day with a 3.6 percent increase