The markets were wild on trade today. The Dow started out lower by 400 points, as investors continued to sell on mostly good economic and earnings numbers. But by lunch time, the markets started a rally that pushed it all the way back into positive territory. The Dow 30 ultimately erased all the day's losses and closed higher by 5. The S&P 500 stayed in the red for the day, but only by 5, and the Nasdaq 100 closed lower by 12.
Tesla (NASDAQ: TSLA) was one of the big names making headlines today as the company reported earnings that beat expectations. The stock sold off as CEO Elon Musk dodged analysts pointed questions during the earnings call, instead choosing to answer questions from a 25-year-old YouTube trader who has a total of 54 shares of Tesla. Shares have been under pressure for months now as investors are starting to wonder about the real financial future of this company.
The New York Times (NYSE: NYT) isn't dead yet. The company reported stronger earnings than Wall Street expected. Revenue was also higher than anticipated, as the company announced that it added 139,000 digital-only subscribers. The only downside is that even while they added all these digital subscribers, digital ad sales fell 6%.
Ferrari (NASDAQ: RACE) shares popped 4.45% on the day, nearing new highs as the company beat predictions on earnings and confirmed a positive forecast going forward for the year. Much of the success can be attributed to higher sales of its 12 -cylinder models. Shares are up by 26% on the year.
Other names that posted good earnings today were Church & Dwight (NYSE: CHD), Express Scripts, and even long-suffering Blue Apron (NASDAQ: APRN).