Stocks were mixed Wednesday and the
was trading just off a record high as traders bet the Federal Reserve will begin cutting interest rates as soon as March.
shares rose 2.1%. A Bloomberg report said the electric-vehicle maker was preparing to launch a revamped version of its popular Model Y SUV from its Shanghai plant. Mass production may start as soon as mid-2024, people familiar with the matter told Bloomberg. The 2024 version of the Model Y will include significant exterior and interior changes.
was down 0.2%. Shares of the tech giant were on pace to fall for a fifth-straight session, which would mark the stock’s longest losing streak since the six-session streak that ended Oct. 20, 2023. On Wednesday, a U.S. appeals court paused an import ban by the International Trade Commission on several models of the
Watch in the U.S. The Biden administration earlier this week declined to pause the ban.
rose 7.1% and
was up 8.3%, leading cryptocurrency-related stocks higher.
founder Michael Saylor said Wednesday the company has bought 14,620 Bitcoin for around $615.7 million, at an average price of $42,110 each. MicroStrategy now holds 189,150 Bitcoin, acquired at an average price of $31,168 per Bitcoin, Saylor said.
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was falling 23% after the Food and Drug Administration put a clinical hold on a trial of a drug for non-small cell lung cancer following a patient fatality.
Shares of
rose 12% and
jumped 4% in Hong Kong trading after tumbling last week following proposed tougher new rules on gaming by Chinese regulators. U.S.-listed shares of both
and Tencent were down 5% and 3.6%, respectively.
was up 28% after the biopharmaceutical company received approval from the Food and Drug Administration for its on-body injector of cancer drug Udenyca.
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was up 0.3% after jumping 5.2% on Tuesday and closing as the best performer in the S&P 500. The chip maker said it would invest $25 billion in Israel to expand its wafer fabrication site after receiving $3.2 billion from the Israeli government.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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