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Tesla shares not only erased losses from earlier in the day, but are now trading about 6% higher to add to their extraordinary 2020 run. The stock initially fell after Tesla announced a $2 billion common stock offering. Tesla shares are currently on track for their biggest one-day gain since a 13.7% surge on Feb. 4. âImbert
Shares of the technology sector hit a new all-time intraday high on Thursday. Applied Materials was the sector’s top performer, gaining more than 5%, after the company beat top and bottom line estimates for the first quarter. Other top-performers included Fidelity National Information Services, which gained more than 4%, as well as Fiserv, Lam Research and Paycom Software, which were all up more than 2%. â Francolla, Stevens
Stocks are off their lows of the day around midday Thursday, and the Nasdaq turned positive as big tech Microsoft and Facebook led the gains. The Dow pared losses to trade about 90 points lower, after dropping 205 points at its session low. The S&P 500 is last down 0.1%. âLi
The ETFs that track the S&P 500 real estate and utilities sectors hit intraday records on Thursday as traders hedged some of their risk exposure amid renewed coronavirus fears. The Real Estate Select Sector SPDR Fund (XLRE) rose 0.6% while the Utilities Select Sector fund (XLU) gained 0.8%. Real estate and utilities are considered to be defensive sectors because they are typically less tied to economic turbulence. âImbert, Francolla