US stocks closed lower on the day but off their lows levels

US stocks close lower on the day but off their lowest levels:

• Dow industrial average -409.94 points or -0.96% at 42514.95. At session lows, the index was down -631.72.
• S&P index fell -53.78 points or -0.92% at 5797.42. At session lows the index was down -88.79 points
• NASDAQ index -296.47 points or -1.60% at 18276.65. At session low as the index was down -426.52 points.. The index had its worst day since September 6

After the close, there was a number of earnings releases highlighted by Tesla. Tesla shares are trading up 8.15% after-hours trading:

• EPS: $0.72 (beat expectations of $0.58)
• Revenue: $25.18B (missed expectations of $25.37B)
• Gross margin: 19.8% (beat expectations of 16.8%)
• Expects slight growth in vehicle deliveries in 2024

Looking at some the other earnings

United Rentals Inc (URI) Q3 2024: Shares are trading down -4.22% after-hours trading

• EPS: $11.80 (missed expectations of $12.48)
• Revenue: $3.99B (missed expectations of $4.01B)
• FY Revenue Guidance: $15.1B to $15.05B (previously $15.1B to $15.35B)

Raymond James Financial Inc (RJF) Q4 2024. Shares are trading up 1.19% in after-hours trading

• EPS: $2.95 (beat expectations of $2.41)
• Revenue: $3.46B (beat expectations of $3.32B)

ServiceNow Inc (NOW) Q3 2024. Shares are trading down -0.85% after-hours trading

• EPS: $3.72 (beat expectations of $3.46)
• Revenue: $2.81B (beat expectations of $2.74B)

International Business Machines Corp (IBM) Q3 2024: Shares are trading down 4.44% in after-hours trading

• EPS: $2.30 (beat expectations of $2.23)
• Revenue: $14.97B (missed expectations of $15.07B)

Las Vegas Sands Corp (LVS) Q3 2024. Shares are trading up 1.0% in after-hours trading:

• EPS: $0.44 (missed expectations of $0.54)
• Revenue: $2.68B (missed expectations of $2.78B)
• FY EPS Guidance: $2.45 (missed expectations of $2.48)

Mattel Inc (MAT) Q3 2024. Shares are trading up 3.37% in after-hours trading

• EPS: $1.14 (beat expectations of $0.95)
• Revenue: $1.84B (beat expectations of $1.68B)

Newmont Corporation (NEM) Q3 2024: Shares are down 6.37% in after-hours trading

• EPS: $0.81 (missed expectations of $0.87)
• Revenue: $4.05B (missed expectations of $4.67B)

T-Mobile US Inc (TMUS) Q3 2024: Shares are up 2.75% in after-hours trading

• EPS: $2.61 (beat expectations of $2.42)
• Revenue: $20.16B (beat expectations of $20.01B)
• FY EBITDA Guidance: $31.6B to $31.8B (previously $31.5B to $31.6B)

This article was written by Greg Michalowski at www.forexlive.com.