Market Slips Despite Strength; Dow Jones, Tesla, and Walt Disney Make Moves

The market continues to rally amid ongoing strength.[0] However, in Wednesday’s session the Dow Jones Industrial Average and the S&P 500 closed down slightly while the Nasdaq Composite lost 1%.[1] Meanwhile, the small-cap Russell 2000 declined 1.5%. The US10Y (10-year Treasury yield) increased 6 basis points to stand at 3.75%, while the US2Y (2-year yield) saw a rise of 2 basis points to 4.53%.[2]

Lyft (LYFT) shares plummeted after their fourth-quarter earnings report included a weak forecast.[3] Shares of Tesla (TSLA) rose by over 3% in response to news that sales of its electric vehicles increased due to recent price cuts. In January, 66,051 cars were delivered from its Chinese factories, representing a month-over-month growth of 18.4%.[4] The Dow Jones Industrial Average edged down 0.2% in last week’s stock market trading.[5] The S&P 500 index experienced a[6] The Nasdaq composite experienced a decrease of 2 The Russell 2000, composed of small-cap stocks,

Looking at individual stocks, Walt Disney (DIS) jumped more than +6% in pre-market trading after reporting Q1 revenue of $23.51 billion, above the consensus of $23.39 billion, and announcing a restructuring that includes 7,000 job cuts and $5.5 billion in cost savings.[7] The cost of crude oil in the United States increased by 1.7%, reaching $78[1]

Thus far, earnings for the fourth quarter have been reported by 63% of S&P 500 companies.[8] Fundstrat reported that 68% of those companies have outperformed their profit predictions by an average of 6%, and 63% have outperformed their revenue expectations by an average of 4%.[9] The price of gold fell by 0.97%, settling at $[9] On Friday evening,[3] At 12:30 p.m., Gov. Christopher Waller will give a speech, and Philadelphia Fed President Patrick Harker will speak at 4 p.m.[3]

The University of Michigan is also scheduled to release the results of its preliminary consumer sentiment survey for February at 10 a.m.[2] [10] Economists anticipate that the index will increase from 64.9 in January to 65 in February.[10] Traders might concentrate on the inflation information in the report, particularly the one-year and five-year inflation projections.[10]

0. “Dow Jones Rallies 250 Points After Jobless Claims; Tesla Stock Doubles From Lows” Investor’s Business Daily, 9 Feb. 2023,

1. “U.S. stock futures slip as rally to begin 2023 loses steam By”, 10 Feb. 2023,

2. “Nasdaq, S&P, Dow look for direction, set to end lower for the week on Fed concerns” Seeking Alpha, 10 Feb. 2023,

3. “Stocks end mostly higher, but S&P 500, Nasdaq book worst weekly losses since December” MarketWatch, 10 Feb. 2023,

4. “Stocks Relinquish Early Gains and Close Lower as Bond Yields Climb” Barchart, 9 Feb. 2023,

5. “Market Rally Pullback Continues — What’s Your Game Plan? Inflation Report Looms | Investor’s Business Daily” Investor’s Business Daily, 11 Feb. 2023,

6. “Futures Strong As Disney Jumps; Why This Rally Looks Healthy” Investor’s Business Daily, 9 Feb. 2023,

7. “Markets Today: Stocks Climb on Positive Earnings Results and Lower Bond Yields” Barchart, 9 Feb. 2023,

8. “Dow closes nearly 250 points lower, Nasdaq sheds 1% as Alphabet shares slide: Live updates” CNBC, 9 Feb. 2023,

9. “Stock market news today: Rising interest rates help spoil early gains” Markets Insider, 9 Feb. 2023,

10. “US Stocks Look Set To Steepen Losses For Week As Nasdaq, S&P Futures Plunge – Invesco QQQ Trust, Series 1” Benzinga, 10 Feb. 2023,