---
title: "Breakfast | Tesla soared 22% after earnings, marking the best single-day gain in eleven years! NVIDIA increases investment in the Indian market"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/217818088.md"
description: "After exceeding expectations in the third quarter, Tesla's annual return turned positive, and Musk's net worth soared by $33.5 billion in a day! However, Wall Street advises investors not to overly emphasize the significant increase in stock price this time, as the uptrend triggered by the performance report may not be sustainable. NVIDIA has reached AI infrastructure cooperation agreements with several Indian tech giants, with Jensen Huang stating that India will become an AI export country"
datetime: "2024-10-24T23:46:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/217818088.md)
  - [en](https://longbridge.com/en/news/217818088.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/217818088.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/217818088.md) | [繁體中文](https://longbridge.com/zh-HK/news/217818088.md)


# Breakfast | Tesla soared 22% after earnings, marking the best single-day gain in eleven years! NVIDIA increases investment in the Indian market

### Overnight Market Overview

The three major US stock indexes only saw a decline in the Dow. The Dow fell for the first time in four days since June, dragged down by IBM and Boeing. The S&P rose for the first time in four trading days.

Following Tesla's financial report, the stock surged by 22%, marking the best single-day gain in over a decade and turning positive for the year.

Among electric vehicle concept stocks, Quantumscape Corp. rose by 25.48%, GreenPower Motor by 13.98%, Nikola by 6.3%, ZEEKR ADR by 4.33%, Cathie Wood's ETF ARKK rose by 3.54%, "Tesla's rival" Rivian rose by 2.66%, XPeng ADR fell by 6.18%, Hyzon Motors fell by 13.02%, Nio fell by 4.05%, and Li Auto rose by over 1%.

McDonald's, which caused serious E. coli infections in many parts of the US, rose by 1.01%. Yum Brands, the parent company of KFC, decided to remove fresh onions from some KFC, Pizza Hut, and Taco Bell stores due to E. coli infections, leading to a 0.64% drop in stock price.

Boeing fell by over 3.2% before closing down by 1.18%. The union stated that striking Boeing workers rejected the agreement and will continue the strike.

Among the stocks that released financial reports, IBM, whose third-quarter revenue fell below expectations, dropped by over 6%, marking the deepest decline in six months, while industrial leader Honeywell fell by over 5%.

Most cryptocurrencies rose, driving up stocks related to cryptocurrency/blockchain concepts. "Monster stock" Youzan Interactive rose by 137.5%, and "Bitcoin holding giant" MicroStrategy MSTR rose by 10.25%.

## Stock News

### Tesla Soars by 22%, Achieving the Largest Single-Day Gain in Eleven Years and Turning Positive for the Year

Tesla raised its full-year capital expenditure forecast for 2024, with third-quarter profits exceeding expectations. The quarterly report brought about the best single-day performance in over eleven years, boosting "Cathie Wood's" ETF by over 3.5%, and Musk's net worth increased by $33.5 billion in a single day.

Investors are optimistic about Tesla's third-quarter performance, believing that the company's most challenging period may have passed. However, JP Morgan advises investors not to overly emphasize the significant rise in stock price this time, as they believe that the uptrend triggered by the earnings report may not be sustainable.

### NVIDIA Partners with Several Indian Tech Giants for AI Infrastructure Collaboration

Jensen Huang stated that India will become an AI export country. The data center newly built by India's second-largest conglomerate, Reliance Group, will use NVIDIA's Blackwell chip, and other tech companies like Tech Mahindra will also utilize NVIDIA's technology. NVIDIA has also introduced a lightweight AI large model for the Indian market, allowing local enterprises to develop their own AI models.

### OpenAI Releases New Model sCM

sCM will usher in a new era of real-time, high-quality, cross-domain generative artificial intelligence for videos, images, 3D models, audio, etc., with a 50x speed increase in just two sampling steps, performance approaching or even surpassing diffusion models. With further system optimization, the speed can be even faster

### Horizon Hong Kong IPO a huge success, founder's wealth surges by $1 billion

On Thursday, Horizon's stock officially listed on the Hong Kong Stock Exchange, closing up 2.8%. Horizon's founder, Yu Kai, saw a significant increase in personal wealth mainly from holding Horizon shares, with his personal wealth reaching $915 million after the market close, placing him among the wealthiest individuals globally.

## Macro News

### U.S. October Markit Manufacturing PMI contracts again, services sector steady, inflation improving, weak job market

Due to strong demand in the services sector, U.S. business activity remained robust for most of October, expected to rebound to the highest level in over two years. However, the manufacturing sector contracted for the third consecutive month, albeit at a slower pace. While input costs remain high, the composite output price index fell to the lowest level in over four years this month. The composite employment index contracted for the third consecutive month.

### U.S. initial jobless claims unexpectedly drop last week, continued claims rise to highest level in three years due to hurricane impact

In the week ending October 19th, initial jobless claims in the U.S. were 227,000, below the expected 242,000 and the previous value of 241,000. Continued claims for unemployment benefits increased to nearly 1.9 million in the previous week.

### Is the U.S. stock market entering a "lost decade"? Another voice challenges Goldman Sachs

Long-time Wall Street bull Yardeni Research stated that investors should be cautious about concerns regarding the market, as the next few years will be a period of prosperity, with U.S. stocks possibly entering the "roaring 2030s". Compared to Goldman Sachs' forecast of a 3% increase, there is a greater likelihood of the S&P 500 rising by 11% annually in the future.

### The biggest enemy of the U.S. stock market - Japan?

The significant real interest rate differential between Japan and the U.S. is one of the main culprits for the continuous expansion of the valuation bubble in U.S. tech stocks. With the Bank of Japan ending its negative interest rate policy and the Federal Reserve starting a rate-cutting cycle, tech stocks, which are the backbone of the U.S. stock market, are facing downward risks

### 相关股票

- [NVIDIA (NVDA.US)](https://longbridge.com/zh-CN/quote/NVDA.US.md)
- [Tesla (TSLA.US)](https://longbridge.com/zh-CN/quote/TSLA.US.md)
- [OpenAI (OpenAI.NA)](https://longbridge.com/zh-CN/quote/OpenAI.NA.md)

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