[NYSE Brief] NVIDIA Reverses to Rise in After-Hours Trading... Tesla Falls for 5th Consecutive Trading Day

NYSE Major Indices Mixed

The New York Stock Exchange closed mixed as NVIDIA earnings expectations and tariff concerns offset each other.

On the 26th (local time), the Dow Jones Industrial Average closed at 43,433.12, down 188.04 points (0.43%) from the previous trading day.

Meanwhile, the Standard & Poor's (S&P) 500 index closed up 0.81 points (0.01%) at 5,956.06, and the tech-heavy Nasdaq index finished at 19,075.26, up 48.88 points (0.26%).

Investors awaited NVIDIA's earnings report, released after market close, as questions arose about continued investment in AI stocks following the emergence of China's generative AI DeepSeek.

After market close, NVIDIA announced revenue of $39.33 billion for the last quarter (November 2024-January 2025). This is 3.3% higher than Wall Street's average forecast of $38.05 billion compiled by market research firm LSEG. Earnings per share (EPS) of $0.89 exceeded expectations ($0.84).

Quarterly revenue guidance also surpassed market expectations. NVIDIA projected revenue of around $43 billion for this quarter (February-April), approximately 2% above market expectations of $41.78 billion.

NVIDIA's stock, which closed up 3.67% in regular trading from the previous day, is rising around 2% in after-hours trading following the earnings announcement.

President Donald Trump's tariff policies limited the upside for indices.

Trump confirmed he would proceed with the previously suspended 25% tariffs on Canadian and Mexican products. Additionally, on the 26th, he announced that 25% tariffs on European Union (EU) products would soon be announced.

Disappointing consumer economic indicators also affected the market. On the 25th, the Conference Board (CB) announced that the February Consumer Confidence Index recorded 98.3 (base 100 in 1985), significantly below market expectations.

By individual stocks, Tesla's share price returned to levels seen immediately after Trump's election confirmation last November. Tesla's stock closed down 3.96% today, following yesterday's sharp 8.39% decline. This marks the fifth consecutive trading day of decline. The market capitalization based on today's closing price stands at $935.4 billion.

Market analysts interpret this as concern that Tesla's business will be impacted by the sharp decline in European sales and CEO Elon Musk's political activities leading DOGE, which may create antipathy among American and European consumers.

Jeong-dong Noh, Hankyung.com Reporter dong2@hankyung.com