On Monday, the Nasdaq underperformed the S&P 500 and the Dow as investors awaited Microsoft’s earnings and Tesla’s shares plummeted due to concerns over its spending plans.
Tesla’s announcement of increased capital expenditure forecast for 2023 to boost output resulted in a decline in consumer discretionary stocks. Initial data indicated that the Nasdaq Composite dropped by 0.28% to close at 12,038.56 points, while the S&P 500 gained 0.09% to finish at 4,137.13 points, according to WAM.
Meanwhile, the Dow Jones Industrial Average rose by 0.21% to reach 33,878.36 points. Reuters reported on the pressure from key megacaps weighing down the Nasdaq.
