"Surging GDP Boosts Stocks, Tesla Tumbles: Jan. 25, 2024 Market Update"
Stocks rose following a stronger-than-expected GDP print, with the Dow gaining 0.6%, the S&P 500 adding 0.5%, and the Nasdaq Composite rising 0.2%. Tesla tumbled after reporting lower-than-expected fourth-quarter revenue and earnings, and forecasting lower volume growth in 2024. United Rentals led the S&P 500 higher after reporting record fourth-quarter sales and earnings, while American Airlines stock soared following a Q4 earnings beat and better-than-expected guidance. Boeing tumbled after the FAA barred it from expanding production of its 737 Max jets, and Northrop Grumman stock slipped on a $1.2 billion bomber charge. Humana's warning prompted a sell-off in health insurers, with its shares plunging to their lowest level since the beginning of the pandemic in 2020.