Stock Market Update

Stock futures traded flat on Wednesday following the seventh consecutive session of gains for the Dow Jones Industrial Average. Yesterday, banks and tech stocks, particularly those involved in artificial intelligence, boosted the market.

Here are some of the stocks expected to make moves today:

Carvana (CVNA)

Carvana, the used-car retailer, saw a sharp decline of 8.6% in premarket trading. The company surprised investors by releasing its second-quarter earnings more than two weeks earlier than scheduled. Carvana’s earnings report is now set for today. So far this year, the stock has experienced an incredible 740% gain.

Goldman Sachs (GS)

Before the stock market opens, Goldman Sachs is scheduled to release its quarterly earnings report. Analysts anticipate a significant drop in profit for the bank due to a lackluster environment for mergers and acquisitions.

Tesla (TSLA)

Tesla’s stock declined slightly by 0.5% before the release of its earnings today after the market closes. In addition to its financial performance, investors will be closely watching the company’s conference call at 5:30 p.m. Eastern Time, where discussions regarding the speed and cost of expanding Tesla’s manufacturing footprint are expected.

ASML (ASML)

ASML, a Dutch manufacturer of lithography systems for the semiconductor industry, experienced a 1.3% decline in premarket trading. Despite warning about a delayed recovery in the semiconductor industry, the company raised its annual sales guidance.

Other companies reporting earnings before the market opens include U.S. Bancorp (USB) and Halliburton (HAL). Netflix (NFLX), International Business Machines (IBM), and United Airlines (UAL) are scheduled to release their earnings after the market closes.

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