Tesla Stock Is Up as the Dow Edges Down Again

Illustration by Michael George Haddad

U.S. stocks looked set to open lower on Wednesday, after the Dow Jones Industrial Average broke a six-day winning streak in the previous session.

Futures on the S&P 500 were down 0.2%, while Dow Jones Industrial Average futures were down 0.2% and the Nasdaq Composite Index futures were 0.4% lower.

Trade tensions with China still linger, though investors remain hopeful that President Donald Trump and President Xi Jinping will make progress at the G-20 meeting in Japan later this month.

Of course, optimism that the Federal Reserve will reduce interest rates remains a factor, and could outweigh some of the concerns about trade.

Here are five stocks making moves this morning:

Tesla stock (ticker: TSLA) is up 2.9% to $223.42 after CEO Elon Musk reiterated that there is not a demand problem for the Model 3 and said there is a “decent shot” at a production record in the second quarter.

Lam Research (LRCX) is down 3.1% to $184 after the stock was downgraded to In-line from Outperform at Evercore ISI.

• Dave & Buster’s (PLAY) is down 19.9% to $41.30 after missing earnings estimates and lowering its guidance for fiscal 2020.

British American Tobacco (BTI) is down 4.3% to $37.23 after reporting that it had lost cigarette market share and the company warned of steeper declines.

Trade Desk (TTD) is down 4.8% to $237.30 after the stock was downgraded to Reduce from Neutral by Nomura.