Top Stock Movers Now: JPMorgan Chase, Tesla, Uber, and More

Key Takeaways

• Major U.S. indexes climbed to fresh highs Friday after strong earnings reports from big banks and a lower-than-expected reading on wholesale inflation. 
• Shares of JPMorgan Chase and Wells Fargo jumped following their earnings news.
• Tesla shares slumped as the electric vehicle maker’s Cybercab and Robovan unveiling Thursday failed to impress investors.

Major U.S. indexes climbed to fresh highs Friday as a reading on wholesale inflation came in lower than expected, and banks kicked off earnings season with strong results. The Dow and S&P 500 hit all-time highs, while the Nasdaq also gained.

JPMorgan Chase (JPM) shares surged after the financial giant reported a jump in net interest income (NII). Shares of Wells Fargo (WFC) also climbed as the bank posted better-than-expected profit on higher fees.

Fastenal (FAST) shares were higher after the maker of fasteners and other industrial supplies reported growing revenue even as disruptions caused by Hurricane Helene cut into sales.

Tesla (TSLA) shares sank after the electric vehicle (EV) maker’s Cybercab and Robovan unveiling Thursday failed to impress investors. However, the news lifted shares of Uber Technologies (UBER) and Lyft (LYFT), which are working on their own autonomous vehicles. 

Shares of Stellantis (STLA) slumped after the automaker announced it was shaking up its management team, including the ouster of its CFO.

A.O. Smith (AOS) shares tumbled as the maker of water heaters and boilers cut its forecast on lower demand in North America and China.

Oil futures fell and gold prices rose. The yield on the 10-year Treasury note edged lower. The U.S. dollar rose versus the yen, but lost ground to the euro and pound. Most major cryptocurrencies traded in the green.

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