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Major Wall Street indices closed in the green on Wednesday despite the Federal Reserve‘s meeting minutes indicating a continued hawkish tone from the central bank. According to the summary of the minutes, participants generally observed that a restrictive policy stance would need to be maintained until incoming data provided confidence that inflation was on a sustained downward path to 2%, which was likely to take some time.
At the same time, the November Job Openings and Labor Turnover report (JOLTS) came in slightly better than anticipated, indicating continued labor market strength. Meanwhile, here are the five stocks that are drawing investors’ attention:
1. Tesla Inc TSLA: Shares of Tesla closed 5.12% higher on Wednesday. The move comes after the stock fell over 12% on the first trading day of the year following concerns over weakening demand and logistical problems that hampered deliveries. A general disregard for the Federal Reserve minutes by Wall Street seems to have acted in favor of the price movement.
Also Read: Everything You Need To Know About Tesla Stock
2. Amazon.com, Inc. AMZN: Amazon’s lay-offs will impact more than 17,000 employees, a higher figure than the company initially planned, reported The Wall Street Journal. This would mark the most reductions revealed so far in a wave of cutbacks at major technology companies, the report said citing people familiar with the matter. Shares of Amazon ended 0.79% lower but gained 1.79% in extended trading.
3. Apple Inc AAPL: France’s privacy watchdog CNIL said it imposed an 8 million euro ($8.49 million) fine linked to ad personalization in Apple’s App Store, according to Reuters. Shares of the iPhone maker closed 1.03% higher on Wednesday.
4. Alibaba Group Holding Ltd BABA: NYSE-listed shares of Alibaba closed 13.01% higher on Wednesday following news that Chinese regulators cleared a plan by billionaire Jack Ma’s Ant Group Co. to raise 10.5 billion yuan ($1.5 billion) for its consumer unit.
5. Microsoft Corp MSFT: Shares of Microsoft closed 4.37% lower on Wednesday. UBS analyst Karl Keirstead downgraded the stock from ‘Buy’ to ‘Neutral’ and lowered the price target from $300 to $250, citing a softening outlook for Microsoft Azure and Office.
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Image and article originally from www.benzinga.com. Read the original article here.